Summary of Segment Reporting Changes

The following table presents a reconciliation of previously reported segment results for the years ended 2023 and 2022 to our segment results under the new segment structure beginning in the first quarter of 2024, reflecting the combination of Iponweb and Marketing Solutions into the newly created Performance Media segment.

Year ended Dec 31, 2023 Year ended Dec 31, 2022
($ in thousands; unaudited) As originally reported Recast As originally reported Recast
Gross Profit $ 863,044 $ 863,044 $ 795,200 $ 795,200
Other Cost Of Revenue 159,562 159,562 133,024 133,024
Contribution ex-TAC $ 1,022,606 $ 1,022,606 $ 928,224 $ 928,224

Year ended Dec 31, 2023 Year ended Dec 31, 2022
($ in thousands; unaudited) As originally reported Marketing
Solutions 		Iponweb Recast As originally reported Marketing
Solutions 		Iponweb Recast
Revenue
Performance Media - 1,617,973 122,465 1,740,438 - 1,762,517 52,169 1,814,686
Marketing Solutions 1,617,973 (1,617,973) - - 1,762,517 (1,762,517) - -
Retail Media 209,007 - - 209,007 202,317 - - 202,317
Iponweb 122,465 - (122,465) - 52,169 - (52,169) -
Total $ 1,949,445 $ - $ - $ 1,949,445 $ 2,017,003 $ - $ - $ 2,017,003
Contribution ex-TAC
Performance Media - 696,681 122,465 819,146 714,695 52,169 766,864
Marketing Solutions 696,681 (696,681) - - 714,695 (714,695) - -
Retail Media 203,460 - - 203,460 161,360 - - 161,360
Iponweb 122,465 - (122,465) - 52,169 - (52,169) -
Total $ 1,022,606 $ - $ - $ 1,022,606 $ 928,224 $ - $ - $ 928,224



CRITEO S.A.
Segment Information
(U.S. dollars in thousands, unaudited)

Three Months Ended Twelve Months Ended
2022 2023 2022 2023
March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 December 31 December 31
Revenue
Performance Media 463,888 440,423 405,751 504,624 406,995 424,344 419,380 489,719 1,814,686 1,740,438
Retail Media (2)
46,679 54,667 41,170 59,801 38,021 44,590 49,813 76,583 202,317 209,007
Total 510,567 495,090 446,921 564,425 445,016 468,934 469,193 566,302 2,017,003 1,949,445
Contribution ex-TAC
Performance Media 186,088 177,969 176,485 226,322 183,266 196,699 196,959 242,222 766,864 819,146
Retail Media (2)
30,829 36,556 36,893 57,082 37,352 43,518 48,436 74,154 161,360 203,460
Total (1)
216,917 214,525 213,378 283,404 220,618 240,217 245,395 316,376 928,224 1,022,606

YoY Change
Three Months Ended Twelve Months Ended
2022 2023 2022 2023
March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 December 31 December 31
Revenue
Performance Media (4) % (10) % (12) % (13) % (12) % (4) % 3 % (3) % (10) % (4) %
Retail Media (2)
(19) % (14) % (18) % (21) % (19) % (18) % 21 % 28 % (18) % 3 %
Total (6) % (10) % (12) % (14) % (13) % (5) % 5 % - % (11) % (3) %
Contribution ex-TAC
Performance Media (3) % (8) % (3) % (1) % (2) % 11 % 12 % 7 % (4) % 7 %
Retail Media (2)
46 % 36 % 28 % 19 % 21 % 19 % 31 % 30 % 29 % 26 %
Total (1)
2 % (3) % 1 % 3 % 2 % 12 % 15 % 12 % 1 % 10 %



YoY Change at Constant Currency (3)

Three Months Ended Twelve Months Ended
2022 2023 2022 2023
March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 December 31 December 31
Revenue
Performance Media 1 % (2) % (2) % (6) % (8) % (3) % - % (3) % (2) % (4) %
Retail Media (2)
(18) % (12) % (14) % (18) % (18) % (18) % 19 % 26 % (16) % 3 %
Total (1) % (3) % (3) % (8) % (9) % (4) % 2 % - % (4) % (3) %
Contribution ex-TAC
Performance Media 2 % 2 % 11 % 8 % 4 % 12 % 9 % 6 % 6 % 7 %
Retail Media (2)
48 % 42 % 32 % 23 % 22 % 20 % 29 % 29 % 33 % 26 %
Total (1)
6 % 7 % 14 % 10 % 6 % 13 % 13 % 10 % 10 % 11 %

(1) Refer to the Non-GAAP Financial Measures section of this filing for a definition of the Non-GAAP metric.

(2) Today, Criteo recognizes Retail Media revenue on a net basis, whereas revenue from arrangements running on legacy Retail Media solutions were accounted for on a gross basis. Most clients using Criteo's legacy Retail Media solutions transitioned to this platform by the end of 2022. During the transition period, Revenue declined but Contribution ex-TAC margin increased. Contribution ex-TAC was not impacted by this transition.

(3) Constant currency measures exclude the impact of foreign currency fluctuations and is computed by applying the prior year monthly exchange rates to transactions denominated in settlement or billing currencies other than the US dollar.


Attachments

  • Original Link
  • Permalink

Disclaimer

Criteo SA published this content on 04 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2024 12:17:12 UTC.