EX-99.1 2 exhibit991.htm EX-99.1 Document

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, 2023Year ended Dec 31, 2022
($ in thousands; unaudited)As originally reportedRecastAs originally reportedRecast
Gross Profit$863,044 $863,044 $795,200 $795,200 
Other Cost Of Revenue159,562 159,562 133,024 133,024 
Contribution ex-TAC$1,022,606 $1,022,606 $928,224 $928,224 

Year ended Dec 31, 2023Year ended Dec 31, 2022
($ in thousands; unaudited)As originally reportedMarketing
Solutions		IponwebRecastAs originally reportedMarketing
Solutions		IponwebRecast
Revenue
Performance Media— 1,617,973 122,465 1,740,438 — 1,762,517 52,169 1,814,686 
Marketing Solutions1,617,973 (1,617,973)— — 1,762,517 (1,762,517)— — 
Retail Media209,007 — — 209,007 202,317 — — 202,317 
Iponweb122,465 — (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 Solutions696,681 (696,681)— — 714,695 (714,695)— — 
Retail Media203,460 — — 203,460 161,360 — — 161,360 
Iponweb122,465 — (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 EndedTwelve Months Ended
2022202320222023
March 31June 30September 30December 31March 31June 30September 30December 31December 31December 31
Revenue
Performance Media463,888 440,423 405,751 504,624 406,995 424,344 419,380 489,719 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 
Total510,567 495,090 446,921 564,425 445,016 468,934 469,193 566,302 2,017,003 1,949,445 
Contribution ex-TAC
Performance Media186,088 177,969 176,485 226,322 183,266 196,699 196,959 242,222 766,864 819,146 
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 EndedTwelve Months Ended
2022202320222023
March 31June 30September 30December 31March 31June 30September 30December 31December 31December 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 EndedTwelve Months Ended
2022202320222023
March 31June 30September 30December 31March 31June 30September 30December 31December 31December 31
Revenue
Performance Media1 %(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 Media2 %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.