Criteo S.A. Files 2023 Annual Report on Form 10-K

Ticker: CRTO · Form: 10-K · Filed: Feb 23, 2024 · CIK: 1576427

Criteo S.A. 10-K Filing Summary
FieldDetail
CompanyCriteo S.A. (CRTO)
Form Type10-K
Filed DateFeb 23, 2024
Risk Level
Pages15
Reading Time18 min
Key Dollar Amounts$29 billion, $1, $4 billion, $42 billion, $110 billion
Sentimentneutral

Sentiment: neutral

Topics: Criteo, 10-K, Annual Report, Advertising, Financials

TL;DR

<b>Criteo S.A. has submitted its 2023 annual 10-K filing, detailing its financial performance and corporate information.</b>

AI Summary

Criteo S.A. (CRTO) filed a Annual Report (10-K) with the SEC on February 23, 2024. Criteo S.A. filed its annual report for the fiscal year ended December 31, 2023. The filing is a Form 10-K, indicating a comprehensive overview of the company's financial performance and condition. The report covers the period from January 1, 2023, to December 31, 2023. Criteo S.A. is incorporated in I0 with its principal business address in Paris, France. The company's Standard Industrial Classification is Services-Advertising Agencies (7311).

Why It Matters

For investors and stakeholders tracking Criteo S.A., this filing contains several important signals. This 10-K filing provides investors and analysts with a detailed look at Criteo's financial health, operational strategies, and risk factors for the 2023 fiscal year. Understanding the specifics within this report is crucial for assessing Criteo's market position, future growth prospects, and potential challenges in the advertising technology sector.

Risk Assessment

Risk Level: — Criteo S.A. shows moderate risk based on this filing. The company operates in the advertising agencies sector, which is subject to evolving digital marketing trends, regulatory changes, and intense competition, as detailed in its 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Criteo's performance and strategic positioning in the competitive ad-tech market.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-02-23 — Filing Date (Filed as of date)

Key Players & Entities

  • Criteo S.A. (company) — Filer name
  • Paris (location) — Business address city
  • 7311 (industry_code) — Standard Industrial Classification

FAQ

When did Criteo S.A. file this 10-K?

Criteo S.A. filed this Annual Report (10-K) with the SEC on February 23, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Criteo S.A. (CRTO).

Where can I read the original 10-K filing from Criteo S.A.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Criteo S.A..

What are the key takeaways from Criteo S.A.'s 10-K?

Criteo S.A. filed this 10-K on February 23, 2024. Key takeaways: Criteo S.A. filed its annual report for the fiscal year ended December 31, 2023.. The filing is a Form 10-K, indicating a comprehensive overview of the company's financial performance and condition.. The report covers the period from January 1, 2023, to December 31, 2023..

Is Criteo S.A. a risky investment based on this filing?

Based on this 10-K, Criteo S.A. presents a moderate-risk profile. The company operates in the advertising agencies sector, which is subject to evolving digital marketing trends, regulatory changes, and intense competition, as detailed in its 10-K filing.

What should investors do after reading Criteo S.A.'s 10-K?

Review the detailed financial statements and risk factors in the 10-K to assess Criteo's performance and strategic positioning in the competitive ad-tech market. The overall sentiment from this filing is neutral.

How does Criteo S.A. compare to its industry peers?

Criteo operates within the digital advertising industry, a sector characterized by rapid technological advancements, evolving privacy regulations, and significant competition from global players.

Are there regulatory concerns for Criteo S.A.?

The advertising technology sector is subject to increasing regulatory scrutiny regarding data privacy and consumer protection, impacting how companies like Criteo collect and utilize data for targeted advertising.

Industry Context

Criteo operates within the digital advertising industry, a sector characterized by rapid technological advancements, evolving privacy regulations, and significant competition from global players.

Regulatory Implications

The advertising technology sector is subject to increasing regulatory scrutiny regarding data privacy and consumer protection, impacting how companies like Criteo collect and utilize data for targeted advertising.

What Investors Should Do

  1. Analyze Criteo's revenue streams and growth drivers for FY2023.
  2. Evaluate the company's operational expenses and profitability trends.
  3. Assess the identified risks and their potential impact on future performance.

Year-Over-Year Comparison

This filing represents the annual update for the fiscal year 2023, providing the latest financial and operational data compared to previous periods.

Filing Stats: 4,533 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-02-23 07:09:20

Key Financial Figures

  • $29 billion — he open Internet, driving approximately $29 billion of commerce outcomes for our customers
  • $1 — our commerce data, we have exposure to $1 trillion in online sales transactions o
  • $4 billion — ata and other assets, we activated over $4 billion of media spend on behalf of our clients
  • $42 billion — g Amazon and China), or SAM, will reach $42 billion in advertising spend by 2025. We also e
  • $110 billion — Media opportunity is expected to reach $110 billion in advertising spend by 2025. When inc
  • $290 billion — for Commerce Media is expected to reach $290 billion in advertising spend by 2025. 2 Crite

Filing Documents

Risk Factors

Item 1A Risk Factors 18

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 39 Item 1C Cybersecurity 39

Properties

Item 2 Properties 41

Legal Proceedings

Item 3 Legal Proceedings 41

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 41 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 42

[Reserved]

Item 6 [Reserved] 53

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 54

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 80

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 81

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 81

Controls and Procedures

Item 9A Controls and Procedures 81

Other Information

Item 9B Other Information 82

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 82 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 83

Executive Compensation

Item 11 Executive Compensation 83

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 83

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 83

Principal Accounting Fees and Services

Item 14 Principal Accounting Fees and Services 83 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 84

Form 10-K Summary

Item 16 Form 10-K Summary 86 General Except where the context otherwise requires, all references in this Annual Report on Form 10-K ("Form 10-K") to the "Company," "Criteo," "we," "us," "our" or similar words or phrases are to Criteo S.A. and its subsidiaries, taken together. In this Form 10-K, references to "

quot; and "US
quot; are to United States dollars. Our audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. Unless otherwise indicated, the statistical and financial data contained in this Form 10-K are presented as of December 31, 2023. Trademarks "Criteo," the Criteo logo and other trademarks or service marks of Criteo appearing in this Form 10-K are the property of Criteo. Trade names, trademarks and service marks of other companies appearing in this Form 10-K are the property of their respective holders. Special Note Regarding Forward-Looking Statements This Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that are based on our management's beliefs and assumptions and on information currently available to our management. All statements other than present and historical facts and conditions contained in this Form 10-K, including statements regarding our future results of operations and financial position, business strategy, plans and our objectives for future operations, are forward-looking statements. When used in this Form 10-K, the words "anticipate," "believe," "can," "could," "estimate," "expect," "intend," "is designed to," "may," "might," "objective," "plan," "potential," "predict," "project," "seek," "should," "will," "would" or the negative of these and similar expressions identify forward-looking statements. You should refer to Item 1A "Risk Factors" o

Business

Item 1. Business History and Development of the Company Criteo S.A. was initially incorporated as a socit par actions simplifie , or S.A.S., under the laws of the French Republic on November 3, 2005, for a period of 99 years and subsequently converted to a socit anonyme , or S.A. We are registered at the Paris Commerce and Companies Register under the number 484 786 249. Our agent for service of process in the United States ("U.S.") is National Registered Agents, Inc. Business Overview We are the global Commerce Media company that enables marketers and media owners to drive better commerce outcomes. We leverage commerce data and artificial intelligence ("AI") to connect ecommerce, digital marketing and media monetization to reach consumers throughout their shopping journey. Our vision is to bring richer experiences to every consumer by supporting a fair and open internet that enables discovery, innovation, and choice – powered by trusted and impactful advertising. Since 2018, and accelerating since 2020, we have deeply transformed the Company from a single-product to a multi-solution platform provider, diversifying our business. We enable brands', retailers' and media owners' growth by providing best-in-class marketing and monetization services and infrastructure on the open Internet, driving approximately $29 billion of commerce outcomes for our customers – in the form of product sales for retailers, brands and marketers and advertising revenues for media owners. We differentiate ourselves by delivering the best performing commerce audiences at scale and we deliver this value by activating commerce data in a privacy-by-design way through proprietary AI technology to reach and engage consumers in real time with highly relevant digital advertisements ("ads") based on shared characteristics across all stages of the consumer journey. Our data offers deep insights into consumer intent and purchasing habits. Our focus is on commerce media. As of December 31, 2023,

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