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Criteo (CRTO) investor relations material
Criteo Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Achieved strong Q3 2025 results with revenue of $470M (up 2% YoY), contribution ex-TAC of $288M (up 6–8% YoY), and adjusted EBITDA of $105M (up 28% YoY), with net income surging to $40M (+552% YoY) and diluted EPS at $0.70 (+536% YoY).
Retail Media drove over $450M in media spend (up 26% YoY), with revenue up 10% to $67M and contribution ex-TAC up 11%, while Performance Media revenue rose 1% to $403M and contribution ex-TAC increased 5–7%.
Announced intention to redomicile to Luxembourg and directly list on Nasdaq, aiming for greater capital flexibility, shareholder value, and index eligibility.
Strong operational leverage, disciplined cost management, and high client retention (~90%) supported results, with operating expenses down 8% YoY.
Named Edouard Dinichert as Chief Customer Officer and launched new partnerships and API integrations, including with Google, Microsoft, Mirakl, and DoorDash.
Financial highlights
Revenue: $470M (+2% YoY); contribution ex-TAC: $288M (+6–8% YoY); gross profit: $256M (+11% YoY); adjusted EBITDA: $105M (+28% YoY); adjusted EBITDA margin: 36%.
Net income: $40M (up from $6–10M YoY); diluted EPS: $0.70 (+536% YoY); adjusted diluted EPS: $1.31 (+36% YoY); basic EPS: $0.72.
Free cash flow: $67M (+74% YoY); free cash flow conversion: 64% of adjusted EBITDA; cash and equivalents: $255M; total liquidity: $811M; no long-term debt.
Operating expenses decreased 8% YoY to $205M.
Share repurchases: $11M in Q3; $115M YTD; $104M remaining authorization.
Outlook and guidance
Reaffirmed full-year 2025 contribution ex-TAC growth of 3–4% at constant currency; adjusted EBITDA margin guidance raised to ~34%.
Q4 2025 contribution ex-TAC expected between $325M–$331M (down 3–5% YoY at constant currency); adjusted EBITDA between $113M–$119M.
CapEx for 2025 projected at ~$110M or slightly above 5% of revenue; higher CapEx expected in 2026 for data center renewals.
Anticipates low overall growth in 2026 due to temporary retail media impacts, with Q1 as the low point.
Guidance reflects temporary impact from scope changes with two retail media clients and absence of one-time tiered fees.
Elaborate on redomiciliation's capital allocation benefits
Detail Q4 Retail Media client scope changes
How does agentic AI drive shareholder value?
How will agentic AI partnerships monetize?
Quantify Google partnership's 2026 impact?
Commerce GO: incremental growth vs. existing?
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Criteo S.A. is a global technology company specializing in performance marketing and advertising solutions. It offers personalized advertising services powered by data analytics and machine learning. The company is headquartered in Paris, France, and its shares are listed on the NASDAQ.
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