CRITEO REPORTS RECORD FIRST QUARTER 2025 RESULTS

Financial Performance - Criteo reported Q1 2025 revenue of $451 million, a slight increase of 0.3% year-over-year, with a gross profit of $237 million, reflecting a 9% increase [2][7][10] - Net income surged to $40 million, up 367% from $9 million in Q1 2024, resulting in a diluted EPS of $0.66, compared to $0.12 in the previous year [2][11][12] - Adjusted EBITDA for the quarter was $92 million, a 30% increase year-over-year, with an adjusted diluted EPS of $1.10, up from $0.80 [2][12][26] Cash Flow and Liquidity - Cash flow from operating activities increased significantly to $62 million, compared to $14 million in Q1 2024, while free cash flow reached $45 million, a substantial rise from $1 million [2][14][40] - As of March 31, 2025, the company had $329 million in cash and marketable securities, with total financial liquidity of approximately $810 million [9][15] Share Repurchase and Corporate Governance - The company deployed $56 million for share repurchases in Q1 2025 [2][8] - Frederik van der Kooi was appointed as Chairperson of the Board of Directors, and Stefanie Jay was nominated for election to the Board [4] Segment Performance - Retail Media revenue grew by 17% year-over-year, or 18% at constant currency, while Performance Media revenue decreased by 2%, but increased by 1% at constant currency [18][44] - Retail Media Contribution ex-TAC increased by 17% year-over-year, driven by new client integrations and platform strength [8][18] Market Outlook - The company anticipates low-single-digit growth in Contribution ex-TAC at constant currency for the upcoming quarters, with an adjusted EBITDA margin expected to be around 33% to 34% [27][20] - A significant client in the Retail Media segment plans to reduce the scope of services starting November 1, 2025, which may impact future revenue [19]