10-K · April 28, 2026
Criteo positions itself as a Commerce AI platform scaling both Performance Media and Retail Media, activating over $4.3 billion of media spend in 2025 and reaching ~740 million DAUs (over 3 billion across channels). The…
Earnings analysis · 10-Q
CRTO earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Criteo's Q1 2026 report showed a substantial decline in revenue and profitability, attributed primarily to challenging market conditions, especially in the Retail Media and Americas segments. Despite outperforming EPS…
Read full summary
Criteo's Q1 2026 report showed a substantial decline in revenue and profitability, attributed primarily to challenging market conditions, especially in the Retail Media and Americas segments. Despite outperforming EPS expectations, the revenue decreased by 6% year-over-year, reflecting ongoing client budget constraints and macroeconomic pressures.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.73
- Gross margin
- 52%
What stood out
-
Substantial Revenue Beat
Actual revenue was $424.6 million, significantly surpassing estimates of $248 million.
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EPS Exceeds Expectations
Criteo reported an EPS of $0.73, exceeding forecasts by 40%.
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Impact of Currency Fluctuations
Revenue positively impacted by $15.2 million due to currency fluctuations.
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Adjusted EBITDA Down
Adjusted EBITDA fell by 30% YoY to $64.9 million due to reduced revenue and higher operating costs.
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Segment Performance Declines
Retail Media revenue decreased by 31% YoY, while Performance Media decreased by 2%.
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Cash Flow Improvements
Operating cash flow improved to $48.2 million despite a YoY total decrease.
What to watch
-
Geopolitical and Economic Uncertainty
Macroeconomic volatility could impact client budgets and spending, increasing risk of revenue declines.
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Regulatory Compliance Risks
Stricter privacy laws could impede Criteo's operational flexibility and growth potential.
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Dependence on Existing Clients
92% of Q1 revenue came from existing clients, raising concerns over customer concentration risks.
Management's outlook
Management anticipates continued volatility and potential low-single-digit revenue declines in 2026.
Earlier filings 4
10-K · February 26, 2026
Criteo reported 2025 revenue of $1,944.9M (up 1% year-over-year, flat at constant currency) with gross profit rising 7% to $1,049.4M and contribution ex‑TAC up 5% to $1,174.6M. Profitability improved: net income rose…
10-Q · July 31, 2025
Criteo reported a modest revenue increase of 2% in Q2 2025 to $482.7M with gross profit rising 11% to $258.5M driven by lower traffic acquisition costs. Contribution ex-TAC rose 9% to $292.1M and Retail Media remained…
10-Q · May 2, 2025
Criteo reported Q1 2025 revenue of $451.4M, up 0.3% year-over-year (3% constant currency), with gross profit rising 9% to $236.98M and operating income improving to $48.17M (operating margin ~10.7%). Net income was…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.