NEW YORK - May 3, 2017 - Criteo S.A. (NASDAQ: CRTO), the performance marketing technology company, today announced financial results for the first quarter ended March 31, 2017.
• Revenue increased 29% (or 30% at constant currency1) to $517 million.
• Revenue excluding Traffic Acquisition Costs, or Revenue ex-TAC,2 grew 29% (or 30% at constant currency) to $210 million, or 41% of revenue.
• Adjusted EBITDA2 grew 16% (or 18% at constant currency) to $56 million, or 27% of Revenue ex-TAC.
• Cash flow from operating activities increased 134% to $44 million.
• Free Cash Flow2 increased 136% to $16 million.
• Net Income decreased 22% to $15 million, driven by the accounting impact of the HookLogic, Inc. ("HookLogic") acquisition.
• Adjusted Net Income per diluted share2 increased 6% to $0.46.
“I'm excited about the significant 30% growth in Q1," said Eric Eichmann, CEO, “which demonstrates the broadly accepted value of our performance marketing platform for commerce companies and brands.”
"We continue to deliver impressive cash flow generation, while investing in the business," said Benoit Fouilland, CFO. "This, combined with rapid profitable growth, makes our model differentiated and attractive."
• Our user graph continues to grow in scale and efficiency, with 67% of Revenue ex-TAC generated from users matched across devices thanks to the graph.
• Our next generation header bidding technology is now connected to over 100 publishers, delivering very promising performance.
• We added over 950 net clients, ending the quarter with more than 15,000 commerce and brand clients, while maintaining a 90% client retention across the business.
• The growth in same-client Revenue ex-TAC remained strong at over 15% at constant currency.
• We launched alpha partnerships on a potential video product with several large U.S. and European clients, with positive first results and a growing pipeline of demand.