Criteo reports Strong Q4 and FY 2023 results, targets Mid-Single-Digit Growth in 2024
Criteo this week reported Q4 and FY 2023 financial results. Revenue flat year-over-year in Q4, up 3% at constant currency.
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.
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