Criteo Shares Drop After Q4 Results; Boosts Share Buyback

Criteo SA CRTO reported fourth-quarter FY21 revenue ex-TAC growth of 9% Y/Y to $276.2 million, beating the consensus of $273.9 million.
Revenue decreased by 1% Y/Y, or increased by 1% at constant currency, to $653 million.
Revenues ex-TAC from Marketing Solutions rose 7% in CC to $228.4 million, and Retail Media grew 41% Y/Y to $47.8 million.
Media spending grew close to $850 million. Same-client contribution ex-TAC increased 9% Y/Y in CC.
Margin: Adjusted EBITDA margin contracted 100 bps to 40%. Non-GAAP EPS of $1.44 beat the consensus of $1.08.
Criteo generated $66 million in operating cash flow and held $571 million in cash and equivalents.
Outlook: Criteo sees Q1 FY22 revenue ex-TAC of $216 million - $220 million, below the consensus of $233.41 million.
Criteo sees FY22 revenue ex-TAC growth of 10% - 12% at CC.
Share Buyback: The board extended the share repurchase program from $175 million ADSs to $280 million.
Price Action: CRTO shares traded lower by 5.27% at $34.84 on the last check Wednesday.

Momentum26.48

Growth74.54

Quality95.54

Value68.22

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