UNITED STATES SECURITIES AND EXCHANGE COMMISSION Securities registered pursuant to Section 12(b) of the Act: Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the Fiscal Year Ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission file number: 001-36153 Criteo S.A. France Not Applicable (State or other jurisdiction of ...

Criteo S.A. (NASDAQ:CRTO) Q4 2021 Earnings Conference Call February 9, 2022 8:00 AM ET Company Participants Edouard Lassalle - SVP, Market Relations and Capital Markets Megan Clarken - CEO Sarah Glickman - CFO Todd Parsons - CPO Conference Call Participants Doug Anmuth - JPMorgan Richard Kramer - Arete Research Dan Salmon - BMO Capital Markets Tim Nollen - Macquarie Matthew Thornton - Truist Securities Operator Good morning and welcome to Criteo’s Fourth Quarter and Fiscal Year 2021 Earnings Call. All parti ...

2021 Performance and Strategy - Criteo achieved profitable, double-digit growth and repositioned to outperform the market[6] - The company activated $2.7 billion in media spend and drove ~$40 billion in commerce outcomes for customers[7] - Criteo's strategy is to be the world's leading Commerce Media Platform, targeting a massive potential TAM of $100 billion by 2024[8] Q4 2021 Performance - Criteo's Q4 2021 Contribution ex-TAC grew by +11% YoY, exceeding guidance[9] - Retail Media grew +41% YoY, driving strong business diversification[9] - Marketing Solutions grew +7% YoY, with retargeting remaining stable despite a $(57) million privacy impact[9] 2021 Business Momentum - Retail Media experienced +58% growth in 2021, with a +63% increase in media spend[10] - Marketing Solutions grew +6% in 2021, with Omnichannel solutions growing by +112%[11] - Non-retargeting Marketing Solutions grew +50% in 2021[11] 2022 Priorities and Outlook - Criteo is focused on integrating IPONWEB, scaling the Commerce Media Platform, and differentiating through a First-Party Media Network in 2022[17] - The company targets double-digit Contribution ex-TAC growth of +10% to +12% in 2022 at constant currency[32] - Non-retargeting solutions are expected to grow by ~+45% in 2022, including ~+50% for Retail Media[32]

Financial Data and Key Metrics - Revenue for Q3 2021 was $509 million, growing 8% year-over-year, with 72% of growth driven by existing customers and 28% by new clients [30] - Revenue ex-TAC grew 14% to $211 million, with a margin of 41.5%, up 200 basis points year-over-year [31][32] - Adjusted EBITDA was $68 million, up 37% at constant currency, resulting in a margin of 32%, up 6 points year-over-year [40] - Free cash flow was $35 million in Q3, reaching $112 million for the first nine months of 2021 [46] - The company repurchased 1 million shares in Q3 at an average cost of $38.6 per share, with a total share buyback program extended to $175 million [47][48] Business Line Performance - New Solutions grew 66% year-over-year, now representing 28% of total business, up 3 points compared to Q2 [14] - Marketing Solutions saw strong performance, with retargeting growing 1% despite identity restrictions, and Audience-first Targeting solutions growing close to 50% [16][17] - Retail Media delivered 65% growth in Revenue ex-TAC, accelerating by 16 points versus Q2, with 70% year-to-date growth [20] - Omnichannel solutions now represent 20% of New Solutions within Marketing Solutions, growing about 140% [18] Market Performance - Americas: Revenue ex-TAC grew 18% at constant currency, driven by Retail Media and strong performance with Strategic and Core Retail customers [35] - Asia-Pac: Revenue ex-TAC grew 15% at constant currency, driven by Retail business recovery in Japan and enterprise clients in South-East Asia and Korea [36] - EMEA: Revenue ex-TAC grew 8% at constant currency, with strong traction from Retail customers in Germany and Retail Media in France [37] Strategic Direction and Industry Competition - The company is focused on its Commerce Media Platform, leveraging first-party data and AI to drive sustainable growth and long-term shareholder value [6][9] - Retail Media is a key growth area, with the Retail Media Platform now accounting for 62% of Retail Media revenue, up from less than 5% in Q3 2020 [37][38] - The company is well-positioned to capitalize on the shift away from third-party cookies, with 60% of daily active users on the web addressable through direct media integrations [25][28] Management Commentary on Operating Environment and Future Outlook - The company expects a strong holiday season, with ecommerce remaining strong and retailers accelerating investments in multi-channel fulfillment [49][50] - Inflationary pressures and supply chain challenges have not materially impacted the business, with the company's diversified customer base providing resilience [52] - The company raised its full-year 2021 Revenue ex-TAC growth guidance to approximately 10% at constant currency, with new solutions expected to grow above 50% [55] Other Important Information - The company has a global consumer reach of 650 million Daily Active Users and access to over $900 billion of ecommerce sales [8] - The Total Addressable Market for Commerce Media is expected to reach $100 billion by 2024, growing 22% per annum [9] - The company is actively working on alternative solutions to iOS and Chrome, with less than 10% of Revenue ex-TAC exposed to Apple users [10][12] Q&A Session Summary Question: Agency Partnerships and Supply Chain Impact [58] - Agency partnerships have grown significantly, with about a third of business running through agencies today, and further growth expected [59][61] - Supply chain challenges have not significantly impacted advertising spend, with clients shifting focus to promoting available stock [63][64] Question: Bonus Provisions and Travel Recovery [67] - Bonus provisions for 2021 are based on performance, with no catch-up expected in 2022 [69] - Travel business is recovering, with growth double that of last year but still about half of 2019 levels, with new bookings expected in Q4 [70] Question: Privacy Impact and Clean Rooms [72] - The company expects less than $60 million in incremental privacy impacts for 2022, primarily from ATT and iOS 15 [73][74] - Clean rooms are seen as an opportunity, with the company actively partnering with major players to integrate first-party data [75][76] Question: Google Cookie Elimination and Retargeting [80] - The company is well-positioned for Google's cookie elimination, with a focus on building first-party data and product development [81][82] - Retargeting remains resilient, with growth expected to continue in Q4 and 2022 [83] Question: Contextual Advertising and Shoppable Video Ads [88] - The company's contextual advertising capabilities are enhanced by its first-party data and AI expertise, making it a strong player in the market [89][91] - Shoppable video ads are a key focus, with initial testing showing promising results, particularly in online video [94] Question: UID 2.0 Progress [95] - The company is actively supporting UID 2.0, with a focus on interoperability and ecosystem readiness [96][97]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from _________ to _________ | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------- ...

Q2 2021 Performance Highlights - Activated Media Spend reached $620 million, a +31% increase year-over-year at constant currency[19] - Revenue reached $551 million, a +22% increase year-over-year at constant currency[19] - Revenue ex-TAC was $220 million, an +18% increase year-over-year at constant currency, exceeding guidance by 4 percentage points[19] - Adjusted EBITDA was $67 million, a +61% increase year-over-year at constant currency and +12% compared to guidance[19] - Non-GAAP Diluted EPS was $0.63, a +133% increase[19] Growth & New Solutions - New Solutions grew +50% and accounted for 25% of total business[8, 20] - Retargeting grew +10%[20] - Targeting Solutions grew +52%[20] - Retail Media grew +49%[20] First-Party Data & Supply - Approximately 60% of web DAUs are addressable through direct publisher integrations[12] 2021 Outlook - The company raised its 2021 Revenue ex-TAC outlook to $882.7 million to $900.4 million, representing +6% to +8% growth at constant currency[49, 50]

Criteo SA (NASDAQ:CRTO) Q2 2021 Earnings Conference Call August 4, 2021 8:00 AM ET Company Participants Edouard Lassalle - VP and Head, Investor & Analyst Relations Megan Clarken - CEO & Director Sarah Glickman - CFO & Principal Accounting Officer Todd Parsons - Chief Product Officer Conference Call Participants Douglas Anmuth - JPMorgan Chase & Co. Sarah Simon - Berenberg Matthew Thornton - Truist Securities Andrew Boone - JMP Securities Timothy Nollen - Macquarie Research Daniel Salmon - BMO Capital Marke ...

PART I FINANCIAL INFORMATION [Item 1 Unaudited Financial Statements](index=3&type=section&id=Item%201%20Unaudited%20Financial%20Statements) This section presents Criteo S.A.'s unaudited condensed consolidated financial statements as of June 30, 2021, covering financial position, income, comprehensive income, equity, and cash flows, with detailed notes [Condensed Consolidated Statements of Financial Position (Unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Position%20(Unaudited)) | Metric | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :-------------------------------- | :--------------------------- | :----------------------------- | | Total assets | $1,842,442 | $1,853,410 | | Total liabilities | $684,373 | $700,723 | | Total equity | $1,158,069 | $1,152,687 | - Total assets slightly decreased from **$1,853.4 million** at December 31, 2020, to **$1,842.4 million** at June 30, 2021, while total liabilities also decreased, and total equity saw a minor increase[14](index=14&type=chunk) [Condensed Consolidated Statements of Income (Unaudited)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Unaudited)) | Metric | Three Months Ended June 30, 2021 (in thousands) | Three Months Ended June 30, 2020 (in thousands) | Six Months Ended June 30, 2021 (in thousands) | Six Months Ended June 30, 2020 (in thousands) | | :-------------------------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Revenue | $551,311 | $437,614 | $1,092,388 | $940,990 | | Gross profit | $182,869 | $146,002 | $361,567 | $318,208 | | Income from operations | $19,729 | $9,789 | $53,948 | $33,591 | | Net income | $15,029 | $6,150 | $38,479 | $22,578 | | Basic EPS | $0.24 | $0.09 | $0.61 | $0.34 | | Diluted EPS | $0.23 | $0.09 | $0.58 | $0.34 | - For the three months ended June 30, 2021, revenue increased by **26% YoY to $551.3 million**, and net income surged by **144% YoY to $15.0 million**, with basic EPS rising from **$0.09 to $0.24**[17](index=17&type=chunk) - For the six months ended June 30, 2021, revenue grew by **16% YoY to $1,092.4 million**, and net income increased by **70% YoY to $38.5 million**[17](index=17&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Unaudited)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Unaudited)) | Metric | Three Months Ended June 30, 2021 (in thousands) | Three Months Ended June 30, 2020 (in thousands) | Six Months Ended June 30, 2021 (in thousands) | Six Months Ended June 30, 2020 (in thousands) | | :-------------------------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Net income | $15,029 | $6,150 | $38,479 | $22,578 | | Other comprehensive income (loss) | $10,472 | $10,227 | $(25,882) | $(3,971) | | Total comprehensive income | $25,501 | $16,377 | $12,597 | $18,607 | - Total comprehensive income for the three months ended June 30, 2021, increased to **$25.5 million** from **$16.4 million** in the prior year, driven by higher net income and positive foreign currency translation differences[20](index=20&type=chunk) - For the six months ended June 30, 2021, total comprehensive income decreased to **$12.6 million** from **$18.6 million**, largely due to significant negative foreign currency translation differences[20](index=20&type=chunk) [Condensed Consolidated Statements of Shareholder's Equity (Unaudited)](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholder's%20Equity%20(Unaudited)) | Metric | December 31, 2020 (in thousands) | June 30, 2021 (in thousands) | | :-------------------------------- | :----------------------------- | :--------------------------- | | Common shares | $2,161 | $2,173 | | Treasury stock | $(85,570) | $(111,823) | | Additional paid-in capital | $693,164 | $720,762 | | Accumulated other comprehensive income (loss) | $16,027 | $(7,438) | | Retained earnings | $491,359 | $519,893 | | Equity-attributable to shareholders of Criteo S.A. | $1,117,142 | $1,123,567 | | Non-controlling interests | $35,545 | $34,502 | | Total equity | $1,152,687 | $1,158,069 | - Shareholders' equity attributable to Criteo S.A. increased from **$1,117.1 million** at December 31, 2020, to **$1,123.6 million** at June 30, 2021, driven by net income and share-based compensation, partially offset by increased treasury stock and decreased accumulated other comprehensive income[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) | Metric | Six Months Ended June 30, 2021 (in thousands) | Six Months Ended June 30, 2020 (in thousands) | | :-------------------------------- | :------------------------------------------ | :------------------------------------------ | | Net income | $38,479 | $22,578 | | Cash from operating activities | $103,722 | $90,120 | | Cash used for investing activities | $(56,814) | $(50,618) | | Cash (used for) from financing activities | $(27,374) | $120,097 | | Net increase (decrease) in cash and cash equivalents | $1,510 | $159,418 | | Net cash and cash equivalents at end of period | $489,521 | $578,181 | - Net cash from operating activities increased to **$103.7 million** for the six months ended June 30, 2021, from **$90.1 million** in the prior year[27](index=27&type=chunk) - Cash used for investing activities increased to **$56.8 million**, primarily due to capital expenditures and marketable securities investments[27](index=27&type=chunk) - Cash used for financing activities was **$27.4 million**, a significant change from **$120.1 million** generated in the prior year, mainly due to share repurchases[27](index=27&type=chunk) [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) [Note 1. Summary of Significant Accounting Policies](index=12&type=section&id=Note%201.%20Summary%20of%20Significant%20Accounting%20Policies) - Criteo S.A. is a global technology company focused on enabling marketers and media owners to drive commerce outcomes through its Commerce Media Platform, which activates first-party, privacy-safe data[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) - The unaudited condensed consolidated financial statements adhere to U.S. GAAP, with certain information condensed or omitted per SEC rules, and rely on key estimates for revenue recognition, credit loss allowances, income taxes, business combinations, and share-based compensation[36](index=36&type=chunk)[37](index=37&type=chunk) - A significant accounting policy update for 2021 involves recognizing revenue for Retail Media Platform transactions on a net basis, as Criteo acts as an agent without controlling advertising inventory or assuming inventory risks[39](index=39&type=chunk) [Note 2. Significant Events and Transactions of the Period](index=14&type=section&id=Note%202.%20Significant%20Events%20and%20Transactions%20of%20the%20Period) - Criteo announced a workforce restructuring plan on February 1, 2021, expecting completion by year-end 2021, with **$5.0 million** in severance restructuring charges recorded for the period ended June 30, 2021[45](index=45&type=chunk) Restructuring Liability | Metric | Amount (in thousands) | | :-------------------------------- | :-------------------- | | Restructuring liability - January 1, 2021 | $510 | |

Criteo S.A. (NASDAQ:CRTO) Q1 2021 Results Earnings Conference Call May 5, 2021 8:00 AM ET Company Participants Edouard Lassalle - SVP, Market Relations & Capital Markets Megan Clarken - Chief Executive Officer Todd Parsons - Chief Product Officer Sarah Glickman - Chief Financial Officer Geoffroy Martin - General Manager of our Growth Portfolio Conference Call Participants Tim Nollen - Macquarie Daniel Salmon - BMO Capital Markets Doug Anmuth - JPMorgan Matthew Thornton - Truist Securities Operator Good morn ...

| --- | --- | |-------|-------| | | | | | | Safe Harbor Statement This presentation contains "forward-looking" statements that are based on our management's beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, projections, competitive position, industry environment, potential growth opportunities, potential market opportunities and the ...