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- Criteo SA CRTO reported second-quarter FY21 revenue ex-TAC growth of 22% Y/Y to $220.2 million, beating the analyst consensus of $208.7 million.
- Revenues from Marketing Solutions rose 19% Y/Y to $193.3 million, and Retail Media grew 53% Y/Y to $26.9 million.
- The media spend increased 31% Y/Y. New solutions grew 50% Y/Y at constant currency.
- Criteo added over 700 net new clients and closed Q2 with over 21,300 clients. Same-client revenue increased 22% Y/Y, and same-client revenue ex-TAC2 increased 16% Y/Y at constant currency.
- It acquired media technology company Mabaya and added Best Buy and a large high-end fashion specialty retailer in the U.S to the Retail Media Platform.
- Adjusted EBITDA margin expanded 900 bps to 31%.
- Non-GAAP EPS of $0.63 beat the analyst consensus of $0.47.
- Criteo generated $26 million in operating cash flow and held $553 million in cash and equivalents.
- Outlook: Criteo sees Q3 revenue ex-TAC of $202 million - $205 million above the analyst consensus of $199.6 million.
- Price action: CRTO shares traded lower by 1.04% at $40.77 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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