Criteo reports Strong Q4 and FY 2023 results, targets Mid-Single-Digit Growth in 2024

Criteo reports Strong Q4 and FY 2023 results, targets Mid-Single-Digit Growth in 2024
Criteo

Criteo this week reported Q4 and FY 2023 financial results. Revenue flat year-over-year in Q4, up 3% at constant currency.

Contribution ex-TAC (profitability measure) up 12% year-over-year, 10% at constant currency.

Net income of $62 million in Q4, up from $16 million.

Adjusted EBITDA of $139 million, up 33% year-over-year.

Targeting mid-single-digit growth in Contribution ex-TAC at constant currency for 2024.

Increased share buyback authorization by $150 million.

Strong Q4 and FY 2023

Criteo delivered a strong Q4 and FY 2023, exceeding expectations.

Revenue remained flat year-over-year in Q4 but increased 3% at constant currency.

Contribution ex-TAC, a key profitability measure, grew 12% year-over-year and 10% at constant currency.

Net income jumped significantly to $62 million in Q4, compared to $16 million the prior year.

Adjusted EBITDA reached $139 million, representing a 33% increase year-over-year.

Retail Media and Marketing Solutions Performance

Retail Media revenue grew 28% year-over-year, demonstrating continued strength in onsite performance.

Marketing Solutions revenue saw a slight decrease, but Contribution ex-TAC remained positive.

The company is focusing on both Retail Media and Marketing Solutions for future growth.

2024 Outlook

Criteo expects mid-single-digit growth in Contribution ex-TAC at constant currency for 2024.

Adjusted EBITDA margin is projected to be between 29% and 30% of Contribution ex-TAC.

The company is committed to returning value to shareholders through share repurchases.


Read more