Performance advertising technology Criteo has published its financial results for the first quarter of 2014, where it made healthy year-on-year gains in sales and profits.
Revenue from Q1 of 2014 rose by 61% to €152.5 million from €94.9 million at the end of the corresponding quarter last year. Criteo's net income was similarly strong, increasing by €3.1 million to €3.8 million, compared to €0.7 million from Q1 in 2013.
Adjusted EBITDA witnessed 218% growth, from €4.6 million in the first quarter of 2013 to €14.5 million this year. Meanwhile cash flow from operating activities jumped from €4.6 million in Q1 2013 to €11.4 million in 2014, an increase of 150%.
Mobile’s monthly gains
In a similar fashion to RetailMeNot’s results, JB Rudelle, Criteo's co-founder and CEO, credited mobile for its integral role at the company as it contributed 15% of revenue in March 2014, compared to 10% in December 2013.
"We delivered another record quarter, exceeding our expectations," Rudelle said. "We are pleased with the increasing contribution of mobile driving our growth, as well as the broadening of our client base across all markets."
Criteo is expecting second-quarter revenue to reach €61.5 million and adjusted EBITDA to break into the €6.5-€8.5 million range, meanwhile for the full fiscal year ending December 31 2014, revenue of €265 million is predicted to complement an adjusted EBITDA of €47 million.