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CRTO

Criteo S.A.

CRTO

Criteo S.A. • NASDAQ
$19.88 ▲ 0.96% (+0.19)
Market Cap $1.06 B
52w High $47.27
52w Low $19.15
Dividend Yield 0%
P/E 6.72
Volume 102.64K
Outstanding Shares 53.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $469.66M ▼ $204.854M ▼ $40.077M ▲ 8.533% ▲ $0.72 ▲ $88.899M ▲
Q2-2025 $482.671M ▲ $228.063M ▲ $21.25M ▼ 4.403% ▼ $0.4 ▼ $66.213M ▼
Q1-2025 $451.434M ▼ $188.809M ▼ $37.928M ▼ 8.402% ▼ $0.7 ▼ $76.592M ▼
Q4-2024 $553.035M ▲ $202.715M ▼ $71.095M ▲ 12.855% ▲ $1.3 ▲ $116.98M ▲
Q3-2024 $458.892M $222.33M $6.245M 1.361% $0.11 $30.917M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $255.014M ▲ $2.062B ▼ $891.349M ▼ $1.131B ▲
Q2-2025 $223.587M ▼ $2.114B ▼ $986.611M ▼ $1.089B ▲
Q1-2025 $313.151M ▼ $2.128B ▼ $1.028B ▼ $1.065B ▲
Q4-2024 $316.935M ▲ $2.266B ▲ $1.185B ▲ $1.049B ▼
Q3-2024 $231.75M $2.208B $1.123B $1.051B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $40.077M ▲ $89.6M ▲ $-27.398M ▼ $-11.238M ▲ $49.311M ▲ $66.632M ▲
Q2-2025 $22.92M ▼ $-1.397M ▼ $-24.187M ▼ $-48.349M ▲ $-80.147M ▼ $-36.648M ▼
Q1-2025 $40.011M ▼ $62.341M ▼ $-17.538M ▲ $-54.794M ▲ $-4.772M ▼ $45.25M ▼
Q4-2024 $71.944M ▲ $169.454M ▲ $-38.935M ▼ $-116.144M ▼ $6.953M ▲ $147.706M ▲
Q3-2024 $6.263M $57.51M $-23.836M $-52.343M $-7.708M $38.083M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Retail Media
Retail Media
 $60.00M ▲$90.00M ▲$60.00M ▼$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Criteo’s sales have been fairly steady over the past few years, but the mix and profitability have improved. Gross profit has grown faster than revenue, which suggests better pricing, stronger product mix, or improved efficiency in how it runs campaigns. Operating profit dipped a couple of years ago but has since recovered, pointing to better cost control and a more profitable business model. Net earnings and earnings per share are now solidly positive again after a very weak patch, indicating the company has come through a transition phase and is running leaner and more focused than before. Overall, this is an advertising tech business that has stabilized its top line while quietly rebuilding its margins.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. Total assets have gradually increased over time, showing ongoing investment in the platform and operations. Cash levels are healthy, even if they’ve come down from earlier highs, and the company carries only a small amount of debt relative to its size. Equity has been broadly stable, which means the business has not been heavily diluted or over-levered to grow. This combination—solid cash, modest debt, and stable equity—gives Criteo room to keep investing in its strategy and to absorb industry bumps without overstretching its finances.

Cash Flow

Cash Flow Criteo consistently generates cash from its operations, year after year. Free cash flow has stayed positive throughout the period, even as the company continues to spend meaningfully on technology and infrastructure. Capital spending is moderate and appears well covered by internal cash generation, rather than relying on borrowing. This pattern—steady operating cash and recurring free cash—suggests the core business is cash-efficient and can fund its own growth and innovation efforts without putting pressure on the balance sheet.

Competitive Edge

Competitive Edge Criteo sits in a tough, fast-moving part of the advertising world, but it has carved out a clear niche around “commerce media.” Its edge comes from three main areas: a very large pool of shopping and transaction data, strong AI models tuned specifically for commerce, and deep relationships with retailers and brands. These reinforce each other: more clients bring more data, which improves performance and helps retain those clients. The focus on the open internet, rather than on closed “walled garden” platforms, gives advertisers an alternative to the largest tech players. That said, Criteo still faces intense competition from giants like Google, Meta, Amazon, and newer ad-tech platforms, along with regulatory and privacy changes that can affect how data is used. Its position is strong but not unchallenged, and continued execution is key.

Innovation and R&D

Innovation and R&D Innovation is at the heart of Criteo’s story. The company is heavily focused on AI and machine learning tailored to commerce—using shopping and transaction data to predict what people are likely to buy and how best to reach them. It has built a full “commerce media platform” that serves both advertisers and retailers, expanding from simple retargeting into full-funnel campaigns, video, and contextual ads. On the frontier, Criteo is investing in agentic AI for more autonomous campaign planning, conversational and shoppable ad formats, in-game and livestream advertising, and tools to let different platforms’ AI systems communicate safely. The shift away from third-party cookies and into first-party, retailer-owned data plays directly into this strategy. The main risk is execution: the company must keep innovating fast enough to stay ahead of rivals and to turn these new ideas into scaled, profitable products.

Summary

Criteo today looks like a mature but evolving ad-tech platform: revenue has leveled off, but profitability, cash generation, and the quality of earnings have improved. Its finances are conservative, with a solid balance sheet and recurring free cash flow, giving it the flexibility to keep investing. Competitively, its strength lies in commerce-focused data and AI, and in its role as a partner for retailers and brands across the open internet. The long-term opportunity is tied to the growth of retail media, commerce-driven advertising, and new AI-powered formats, while the main uncertainties come from heavy competition, changing privacy rules, and the need to continually innovate. Overall, this is a business that has used a period of transition to strengthen its foundations and is now leaning into a more focused, commerce-centric future.

NEWS

November 3, 2025 · 9:00 AM UTC

Xnurta Announces Criteo Integration To Simplify Omnichannel Ad Management

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October 29, 2025 · 7:02 AM UTC

Criteo Names Amazon Veteran Edouard Dinichert as Chief Customer Officer

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October 29, 2025 · 7:01 AM UTC

Criteo Announces Intention to Redomicile to Luxembourg and List Ordinary Shares on Nasdaq

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October 29, 2025 · 7:00 AM UTC

CRITEO REPORTS STRONG THIRD QUARTER 2025 RESULTS

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October 15, 2025 · 7:00 AM UTC

CRITEO TO ANNOUNCE THIRD QUARTER 2025 FINANCIAL RESULTS ON OCTOBER 29, 2025

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