Criteo’s activated media spend surges 30% to $4.1 billion in 2023

Commerce media company Criteo reported a revenue of $566 million for Q4 2023, up 0.3% YoY. Gross profit was $277 million and net income for Q4 was $62 million. Gross profit increased by 12% YoY in Q4 2023 (Q4 2022: $247 million). Revenue for the entire fiscal year 2023 was $1.9 billion and gross profit was $863 million. Revenue for 2023 decreased by 3%, and gross profit increased by 9%. 

Criteo’s activated media spend, which is the sum of its marketing solutions revenue, the media spend activated on behalf of its retail media clients, and the media spend activated by Iponweb, was $1.3 billion in Q4 and $4.1 billion in the last 12 months, growing 30% year-over-year at constant currency. In Q4, retail media revenue increased 28%, or 26% at constant currency, reflecting continued strength in Retail Media onsite. 

“We achieved double-digit growth for the second consecutive year, with a historic milestone of crossing $1 billion in Contribution ex-TAC for the first time and Retail Media now surpassing $200 million in annual revenue,” said Megan Clarken, Chief Executive Officer of Criteo. “As we step into 2024, we look forward to harnessing the opportunities that lie ahead, and our commitment remains steadfast towards sustainable, profitable growth to drive shareholder value.”

Sarah Glickman, Chief Financial Officer, said, “In 2023, we delivered an adjusted EBITDA margin of 30%,  above guidance, and we deployed $125 million of capital for share repurchases to drive shareholder value. Our record fourth quarter performance reflects building momentum for our  Commerce Media Platform and our strong focus on cost efficiencies, setting the stage for continued growth and robust profitability in 2024.”