Criteo announced its financial results for the second quarter that ended on June 30, 2014. It reported impressive results, with almost 66 per cent increase it its revenue in the second quarter.
- Revenue in the second quarter 2014 increased 66.3 per cent to Eur 165.3 million, as compared to Eur 99.4 million in the second quarter 2013
- Revenue excluding TAC (traffic acquisition costs), or revenue ex-TAC, in the second quarter 2014 grew 67.4 per cent to EUR 67.0 million, or 40.5 per cent of revenue, as compared to EUR 40.0 million, or 40.3 per cent of revenue, in the second quarter 2013
- Net income in the second quarter 2014 increased by EUR 8.0 million to EUR 2.4 million, compared to a net loss of EUR 5.6 million in the second quarter 2013
- Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the second quarter 2014 was EUR 13.2 million, an increase of EUR 12.6 million, as compared to EUR 0.7 million in the second quarter 2013.
- Cash flow from operating activities in the second quarter 2014 increased 170.0 per cent to EUR 11.2 million, as compared to EUR 4.1 million in the second quarter 2013
- Free cash flow for the second quarter 2014 was EUR 0.7 million, an increase of EUR 3.2 million, as compared to a negative EUR 2.5 million free cash flow in the second quarter 2013
- The new Criteo engine was rolled out to approximately 60 per cent of Criteo’s client base during the quarter, delivering a significant increase in post-click sales for these marketers
- Total number of clients grew by 564 in the second quarter to 6,131, representing a 43% year-over-year growth, including strong acceleration in the mid-market segment
- New client additions in the second quarter 2014 included:
1. In Asia-Pacific: AB Road, music.jp
2. In EMEA: Abritel (Homeaway group), ING, PayPal, Samsung, VoyageSNCF.com
3. In America: Orvis, PartyCity
“We delivered another record quarter exceeding our expectations, driven by focused execution across the business in all regions. We are very pleased by the success of our significant technology enhancements and the broadening of our client base across geographies,” stated JB Rudelle, Co-Founder and CEO, Criteo.