CRITEO CRITEO November 2, 2023 This presentation contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently available to them. All statements other than present and historical facts and conditions contained in this presentation, including statements regarding our possible or assumed future results o ...

This Form 10-Q may contain market data and industry forecasts that were obtained from industry publications. These data and forecasts involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such information. We have not independently verified any third-party information. While we believe the market position, market opportunity and market size information included in this Form 10-Q is generally reliable, such information is inherently imprecise. Item 1. Financial St ...

Criteo S.A. (NASDAQ:CRTO) Q2 2023 Earnings Conference Call August 2, 2023 8:00 AM ET Company Participants Melanie Dambre - Vice President, Investor Relations Megan Clarken - Chief Executive Officer Sarah Glickman - Chief Financial Officer Todd Parsons - Chief Product Officer Conference Call Participants Mark Zgutowicz - Rosenblatt Securities Ygal Arounian - Citigroup Doug Anmuth - JPMorgan Mark Kelley - Stifel Matthew Thornton - Truist Securities Brian Fitzgerald - Wells Fargo Tim Nollen - Macquarie Richard ...

Note 18. Subsequent Events The Company evaluated all subsequent events that occurred after June 30, 2023 through the date of issuance of the unaudited condensed consolidated financial statements and determined there are no significant events that require adjustments or disclosure. 31 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion should be read in conjunction with the unaudited condensed consolidated financial statements and related no ...

Criteo S.A. (NASDAQ:CRTO) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET Company Participants Melanie Dambre - Vice President-Investor Relations Megan Clarken - Chief Executive Officer Sarah Glickman - Chief Financial Officer Todd Parsons - Chief Product Officer Conference Call Participants Mark Kelley - Stifel Ygal Arounian - Citigroup Matthew Cost - Morgan Stanley Mark Zgutowicz - Benchmark Company Richard Kramer - Arete Research Tim Nollen - Macquarie Matthew Thornton - Truist Securities Operato ...

Q1 2023 Contribution ex-TAC Mix & Growth1 7 Activated media spend is defined as the sum of our Marketing Solutions revenue, the media spend activated on behalf of our Retail Media clients and the media spend activated by IPONWEB 2. Backdrop 2021 Winner in Diversity France Digitale Talent Awards | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------|--------|--------|--------| | ($ in millions) | Q1'23 | Q1'22 | 2022 | | CASH FROM OPERATING ACTIVI ...

| --- | --- | --- | --- | --- | --- | |-------|------------|-------|------------|-------|--------------| | March | 31, 2023 | | | 31, | March 2022 | | | | | | | | | | | (in | thousands) | | | | +10% | | -10% | | | +10% | | 236 | $ | (236) | $ | — $ | | For the three months ended March 31, 2023, net cash used for financing activities was $(72.2) million, resulting mainly from a $(51.0) million payment for our share repurchase program, a $(22.0) million payout of the current portion earn-out liability resulti ...

93 We are mainly exposed to changes of foreign currency exchange rate fluctuations. 94 Evaluation of Disclosure Controls and Procedures Changes in Internal Control Over Financial Reporting 95 We have established our leading market position in commerce media by focusing on three key assets that differentiate us: actionable commerce data, extensive media access, and world-class predictive AI technology. Our large dataset is uniquely focused on commerce and shoppers, our media access across our broad direct ne ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------|-------|-------|-------|-------|-------|-------|-------|-------------| | | | | | | | | | | | Gross Media Spend in $m | 104 | | | | | | | 348 +35%2 | | Revenue in $m | | | | | | | | 59.8 -18%2 | | Contribution ex-TAC in $m | 21.1 | | | | | | | 57.1 +23% 2 | | Contribution ex-TAC Margin | 36.4% | | | | | | | 95.5% | Transitory Impact • Platform transition completed at the end of 2022 • Going forward, Revenue and Contributi ...

Financial Data and Key Metrics Changes - Revenue for 2022 was $2 billion, with Contribution ex-TAC growing by 10% at constant currency to $928 million, despite $60 million in incremental signal loss impacts [56][74] - Adjusted EBITDA margin was 29%, with record free cash flow of $200 million and adjusted EPS of $2.76, including five months of contribution from Iponweb [57][74] - Q4 revenue was $564 million, with Contribution ex-TAC at $283 million, reflecting a year-over-year headwind from weaker foreign currencies of $21 million [64][74] Business Segment Data and Key Metrics Changes - In Retail Media, revenue was $202 million, with Contribution ex-TAC growing 33% year-over-year to $161 million, driven primarily by the U.S., UK, and Germany [63][74] - Marketing Solutions revenue was $1.8 billion, with Contribution ex-TAC at $715 million, as Commerce Audiences grew by 26% at constant currency, offsetting lower Retargeting [63][74] - Retail Media, Commerce Audiences, and Iponweb combined represented 47% of Contribution ex-TAC in Q4, up from 41% in Q3 and 32% in Q4 last year [65] Market Data and Key Metrics Changes - Conversations with CMOs indicate delays in ad budgeting processes due to uncertainties regarding inflation and interest rates, but marketers are not blindly cutting budgets [59][74] - Retail spend was soft across all regions, particularly in fashion and department stores, while travel remained strong [68][74] - The company expects Contribution ex-TAC growth of approximately 30% for Retail Media in 2023, anticipating further share gains [75] Company Strategy and Development Direction - The company aims to accelerate its position in Commerce Media, focusing on Retail Media as a non-cyclical growth area [52][54] - The strategy includes doubling the size of the Retail Media team and enhancing go-to-market efforts with retailers [113] - The company is focused on integrating Iponweb and leveraging its capabilities to enhance product offerings and drive growth [50][74] Management's Comments on Operating Environment and Future Outlook - The macroeconomic environment has changed significantly, but the company's strategy remains intact, with a focus on profitable growth and aligning cost structures [60][74] - The company anticipates stronger organic growth later in the year as new capabilities ramp up and seasonal trends in Retail Media take effect [17][74] - Despite lower visibility on near-term trends, the long-term opportunity for the company remains intact, with a strong focus on execution [54][74] Other Important Information - The company ended the year with non-targeted solutions representing close to half of its business in Q4, compared to 32% a year ago [38] - The company has about $835 million in total liquidity, providing significant financial flexibility for growth and capital allocation strategies [72] - The Board of Directors authorized an extension of the share repurchase program from $280 million to $480 million, demonstrating confidence in the business strategy [73] Q&A Session Summary Question: Can you provide an update on Commerce Max and key gating factors? - The company is focused on unifying planning and spending across its network, addressing fragmentation in Retail Media [14][93] Question: How do you see 2023 as a year of sales execution? - The company views 2023 as a year of acceleration, focusing on monetizing retailer inventory and enhancing targeting capabilities [91][113] Question: Can you discuss the impact of AI on Criteo's ad stack? - The company is leveraging AI capabilities to enhance predictions and performance, utilizing unique access to commerce data [100][101] Question: What are the expectations for Retail Media growth? - The company expects Retail Media to continue showing robust growth, with a target of approximately 30% growth in Contribution ex-TAC for 2023 [75][81]