Performance marketing company Criteo has announced its financial results for 2015, surpassing €1 billion in total revenue during what it described as a “terrific” year.

The results show the French-based company is far outperforming its closest competitors, many of whom are operating at losses.

The announcement represents a 60% increase on last year’s figure of €745 million to €1.2 billion, while new business saw its portfolio of clients exceed the 10,000 mark.

Revenue from Q4 2015 exceeded the previous year’s by 55%, to reach €362 million, while net income for the same period increased 101% year on year to €35 million.

CEO Eric Eichmann spoke highly of the results, stating: “I am thrilled to take the helm at such an exciting time and look forward to our 2016 initiatives.”

Success in mobile

Criteo is able to attribute 25% of its revenue to users across at least two devices, highlighting the success of its endeavours to provide advertisers with effective cross-device targeting solutions.

Much of Criteo’s financial success can be owed to its developments in technology, while a strong Q4 was boosted further by the onboarding of 900 new clients.

“I am very pleased with our growing profitability and strong free cash flow generation in 2015,” said Benoit Fouilland, chief financial officer, adding that its unique financial model continues to be a “key differentiator”.

As reported on Business Insider. Fouilland refers to the fact that Criteo’s clients, of which 73% are marketers, treat the service as a sales cost, rather than on a potentially capped marketing budget – meaning if Criteo drives sales, spend on the platform goes up.  

With its business chiefly based on ad targeting, Criteo also appears to have shunned any doubts regarding the impact of Apple’s decision to allow ad blocking on iPhones. The company reports that 47% of its revenue derives from mobile ads, indicating a limited effect.

It’s worth mentioning, however, that its methods in this area have attracted plenty of attention. Last year Criteo circumvented any threat posed by AdBlock Plus, one of Europe’s leading ad-blocking browser extensions, by paying the service to whitelist its inventory.