Criteo SA (NAS:CRTO)
$ 42.7 0.35 (0.83%) Market Cap: 2.39 Bil Enterprise Value: 2.24 Bil PE Ratio: 24.83 PB Ratio: 2.24 GF Score: 61/100
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Q2 2024 Criteo SA Earnings Call Transcript

Aug 01, 2024 / 12:00PM GMT
Release Date Price: $46.96 (+5.42%)

Key Points

Positve
  • Criteo SA (CRTO) achieved double-digit organic growth for the third consecutive quarter.
  • The company reported record top-line and adjusted EBITDA margin for Q2 2024.
  • Criteo SA (CRTO) extended its partnership with Microsoft, enhancing its retail media suite.
  • Strong client retention with close to 90% and significant growth in retail media activated media spend.
  • The company raised its financial guidance for 2024, expecting Contribution ex-TAC to grow 10% to 12% year over year.
Negative
  • The transition of Criteo SA (CRTO)'s largest retail client to a direct sales model impacted Q2 results.
  • Foreign currency headwinds negatively affected revenue by $6 million.
  • The company faces macroeconomic uncertainties that could impact future performance.
  • The integration of Microsoft Advertising's client base may require incremental investment.
  • Retail media offsite campaigns are still in early stages, indicating potential challenges in scaling.
Operator

Good morning and welcome to Criteo's second quarter 2024 earnings call. (Operator Instructions).

Please note, this event is being recorded.

I would now like to turn the call -- conference over to Melanie Dambre, Vice President, Investor Relations. Please go ahead.

Melanie Dambre
Criteo SA - Head of Investor Relations

Good morning, everyone, and welcome to Criteo's second quarter 2024 earnings call. Joining us on the call today are Chief Executive Officer, Megan Clarken, and Chief Financial Officer, Sarah Glickman, are going to share some prepared remarks. Todd Parsons, Chief Product Officer, will join us for the Q&A session.

As usual, you will find our Investor presentation on our Investor website now as well as our prepared remarks and transcript after the call.

Before we get started, I would like to remind you that our remarks will include forward-looking statements, which reflects critical judgments, assumptions, and analysis only as of today. Our actual results may differ materially from current expectations based

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