Criteo Q3: Mobile Momentum, Geographic Expansion

CriteoQ3In its first earnings disclosure since going public, French retargeter Criteo cited vertical expansion beyond its heritage of retail and travel retargeting client base.

CEO Jean-Baptiste “JB” Rudelle noted “major” US client wins in the financial and auto verticals helped the company post revenue growth of 57.8%, increasing from 72.1 million euros in the third quarter of 2012 to 113.8 million euros this Q3.

The company on Wednesday named Tribal Fusion’s Robert Deichert as COO of North America business, charged with leading expansion in the US and in Canada.

Criteo says it’s satisfied with the reception incurred from the financial community around its IPO as the company announced its Q3 earnings Thursday.

Rudelle also mentioned Criteo’s completed acquisition of mobile technology company Ad-X Tracking, whose tools around mobile performance optimization, in-app analytics, and download tracking is intended to complement Criteo’s existing stack. Mobile, Rudelle said, has been a strong priority within Criteo’s R&D agenda.

Since the acquisition closed, Criteo has focused on integrating Ad-X’s technology, relocating Ad-X’s technical team to Paris to combine it with Criteo’s R&D team in Paris. Because mobile contributes to 30% of Criteo’s largest client business, Rudelle said it’s “definitely one of the most important agenda points on our R&D roadmap.”

Globally, Criteo has grown 62% over this time last year, totaling 4,631 clients globally. In particular, the company notably increased its footprint in Latin America, with “double-digit growth” in Brazil and similar traction in Western Europe. Criteo also said it had developed a fully-owned Russian subsidiary, had pushed further into Eastern Europe and Middle East, and had grown in  Japan, where according to Rudelle more than 40% of clients are mobile-integrated. An expanded partnership with Yahoo Japan gave Criteo access to additional impressions on premium properties.

Get the rest of the earnings results here.

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