Performance advertising company, Criteo has announced its first full set of financials since going public on the Nasdaq stock exchange late last year.
Fourth-quarter revenue at Criteo jumped 57% to €135.9 million compared to €86.6 million in the same quarter in 2012. Whereas it increased 63% to €444 million in the fiscal year 2013 compared to €271.9 million at the end of the previous 12 months.
Criteo managed to turn its loss-making income of €3.3 million in Q4 2012 to €4.7 million in the black at the end of 2013’s fourth quarter, a rise of €8 million. For fiscal 2013 net income totalled €1.4 million, up from €0.8 million in 2012.
Buoyed by Criteo’s strong results, the company’s co-founder and CEO, JB Rudelle, explained that it was the best set of figures in its history thanks to the launch of a number of new display products.
"We delivered a record quarter and a record year in 2013, exceeding our expectations,” Rudelle said. "We introduced several new products and we are particularly pleased with the strong launch of our mobile offering in the fourth quarter.
With our new products ramping quickly on new screens and devices, we are excited about 2014 and our future growth opportunities."
EBITDA, cash flow and 2014
There was a 227% rise in EBITDA from €4.4 million in Q4 2012 to €14.5 million in the latest quarter. It was a similar story for the fiscal year 2013 where EBITDA stood at €31.3 million, which grew by 85% on 2012’s €4.4 million.
Cash flow from operating profits grew by 62% to €12.3 million in Q4 2013, an improvement on €7.6 million from the same period in 2012. Over the course of fiscal 2013 Criteo’s cash flow reached €24.7 million, more than double 2012’s €11.8 million.
Looking to the future, Criteo expects revenue to hit between €246 million and €251 million when fiscal 2014 comes to a close. Adjusted EBITDA for the fiscal year ending December 31, 2014 of €47 million to €51 million has also been forecasted.