Criteo (CRTO) FY2024 results: revenue $1.9 billion, down 0.8% on the year

Criteo S.A. (CRTO) reported revenue of $1.9 billion for fiscal 2024, the year ended 31 December 2024, down 0.8% on the year before. Net income was $112 million, up 109.5%, and diluted earnings per share $1.90. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue

$1.9 billion

-0.8% on the year

FY2017FY2024

Operating margin

7.8%

4.0% a year earlier

FY2017FY2024

Net income

$112 million

+109.5% on the year

FY2017FY2024

Diluted EPS

$1.90

+115.9% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,933	1,949	2,017	-0.8%
Cost of revenue	812	927	1,089	-12.4%
Gross profit	983	863	795	+13.9%
Gross margin	50.8%	44.3%	39.4%
Research and development	279	242	188	+15.3%
Operating income	151	77.2	24.3	+96.1%
Operating margin	7.8%	4.0%	1.2%
Interest expense	1.8	2.2	2.0	-18.7%
Pre-tax income	154	74.7	42.1	+106.7%
Income tax	39.8	20.1	31.2	+98.1%
Effective tax rate	25.8%	26.9%	74.1%
Net income	112	53.3	9.0	+109.5%
Net margin	5.8%	2.7%	0.4%
Diluted EPS	$1.90	$0.88	$0.14	+115.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	258	224	256	+15.1%
Capital expenditure	78.1	116	63.8	-32.7%
Free cash flow	180	108	192	+66.5%
Free cash flow margin	9.3%	5.5%	9.5%
Cash from investing	-97.9	-109	-166
Cash from financing	-270	-147	-113
Depreciation and amortisation	89.4	84.8	89.0	+5.4%
Share-based compensation	103	97.2	65.0	+5.6%
Buybacks	225	125	136	+79.0%
Diluted shares, weighted	59m	60m	63m	-2.7%
Shares outstanding at period end	58m	61m	63m	-5.6%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,049	1,080	1,048	-2.8%
Non-controlling interest	31.9	31.8	33.1	+0.4%
Operating lease liabilities	77.6	83.1	77.5	-6.6%
Other liabilities	1,108	1,197	1,190	-7.5%
Total liabilities and equity	2,266	2,392	2,349	-5.2%
Fixed assets	107	126	131	-15.2%
Goodwill	515	524	515	-1.7%
Intangible assets	158	181	176	-12.4%
Investments	41.8	22.5	25.1	+85.5%
Cash and equivalents	291	336	348	-13.6%
Receivables	801	776	709	+3.3%
Other assets	352	425	444	-17.2%
Total assets	2,266	2,392	2,349	-5.2%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.