Digital performance advertising, Criteo, has some good numbers to show for the first quarter ended March 31, 2014. Revenue in the Q1 2014 increased 60.8 per cent (or 68.4 per cent at constant currencies) to Euro 152.5 million, compared with Euro 94.9 million in the first quarter 2013. Revenue excluding Traffic Acquisition Costs, or Revenue ex-TAC, in the first quarter 2014 grew 68.2 per cent (or 75.7 per cent at constant currencies) to Euro 62.7million, or 41.1 per cent of revenue, compared with Euro 37.3 million, or 39.3 per cent of revenue, in the first quarter 2013.
“We delivered another record quarter, exceeding our expectations. We are pleased with the increasing contribution of mobile driving our growth, as well as the broadening of our client base across all markets,” said JB Rudelle, Criteo’s Co-Founder and CEO in a prepared statement.
Two important reasons for the growth has been attributed to the growth in mobile adoption for Criteo clients and growth coming from new clients as well.
The contribution of existing clients to Criteo’s year-over-year growth accelerated in the quarter. The mobile solution on all leading browsers contributed to 15 per cent of revenue ex-TAC in March 2014, compared with 10 per cent in December 2013, driven by advertiser adoption across geographies.
“We continued to generate profitable growth in the quarter, further demonstrating the robustness and scalability of our financial model. As we progress into 2014, we intend to accelerate our investments to further support our future growth,” added Benoit Fouilland, Criteo’s Chief Financial Officer.