Criteo S.A.-CRITEO REPORTS RECORD FOURTH QUARTER 2024 RESULTS

Core Insights - Criteo S.A. appointed Michael Komasinski as the new Chief Executive Officer, effective February 15, 2025, succeeding Megan Clarken [22][23] - The company deployed a record $225 million for share repurchases in 2024, with the remaining share buyback authorization increased to$ 200 million [8][27] - Criteo is targeting mid-single-digit growth in Contribution ex-TAC for 2025 [24][32] Financial Highlights - For Q4 2024, revenue was $553 million, a decrease of 2% year-over-year, while gross profit increased by 9% to$ 301 million [6][9] - Fiscal year 2024 revenue totaled $1.9 billion, down 1% from the previous year, with gross profit rising 14% to$ 983 million [7][13] - Net income for Q4 2024 was $72 million, up 16% year-over-year, and for the fiscal year, net income reached$ 115 million, a 110% increase [10][14] Non-GAAP Financial Metrics - Contribution ex-TAC for Q4 2024 was $334 million, reflecting a 6% year-over-year increase, while for the fiscal year, it was$ 1.1 billion, up 10% [6][13] - Adjusted EBITDA for Q4 2024 was $144 million, a 4% increase year-over-year, and for the fiscal year, it was$ 390 million, representing a 29% increase [11][15] - Free Cash Flow for Q4 2024 was $146 million, up 3% year-over-year, and for the fiscal year, it was$ 182 million, a 65% increase [17][35] Operating Performance - Retail Media Contribution ex-TAC grew 25% year-over-year at constant currency in 2024, while Performance Media Contribution ex-TAC increased by 8% [8][19] - The company expanded its platform adoption to 3,500 brands and 225 retailers, including Harrods [8] - Criteo's media spend was $4.3 billion in 2024, growing 5% year-over-year at constant currency [8][19] Shareholder Value Initiatives - The company demonstrated a commitment to shareholder value by increasing its share repurchase program from$ 630 million to $805 million [27][28] - The share repurchase program aims to limit future dilution for shareholders and fund potential acquisitions [27][28]