v3.25.2
Segment information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment information Segment information
The Company reports segment information based on the management approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company's reportable segments. The Company reports its results of operations through the following two segments: Retail Media and Performance Media.
–Retail Media: This segment encompasses revenue generated from brands, agencies and retailers for the purchase and sale of retail media digital advertising inventory and audiences, and services.

–Performance Media: This segment encompass our targeting capabilities and supply and AdTech services.

The Company's chief operating decision maker ("CODM"), our Chief Executive Office ("CEO"), allocates resources to and assesses the performance of each operating segment using information about Contribution ex-TAC, which is Criteo's segment profitability measure and reflects our gross profit plus other costs of revenue. The CODM only reviews revenues and corresponding TAC for each segment, and is not regularly provided any other expense nor financial information for our two segments.
The following table shows revenue by reportable segment:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Retail Media$60,913 $54,777 $120,411 $105,649 
Performance Media421,758 416,530 813,694 815,713 
Total Revenue$482,671 $471,307 $934,105 $921,362 

The following table shows TAC by reportable segment:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Retail Media$904 $911 $1,612 $1,614 
Performance Media189,698 203,303 376,052 398,767 
Total Traffic Acquisition Costs$190,602 $204,214 $377,664 $400,381 
The following table shows Contribution ex-TAC by reportable segment and its reconciliation to the Company’s Consolidated Statements of Operation:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Contribution ex-TAC
Retail Media$60,009 $53,866 $118,799 $104,035 
Performance Media232,060 213,227 437,642 416,946 
$292,069 $267,093 $556,441 $520,981 
Other cost of revenue
33,551 34,248 60,947 70,913 
Gross profit$258,518 $232,845 $495,494 $450,068 
Operating expenses
Research and development expenses$79,610 $59,639 $140,359 $126,497 
Sales and operations expenses108,215 95,069 197,104 187,911 
General and administrative expenses$40,238 $41,199 $79,409 $88,368 
Total Operating expenses$228,063 $195,907 $416,872 $402,776 
Income from operations$30,455 $36,938 $78,622 $47,292 
Financial and other (expense) income
(1,801)(284)501 897 
Income before tax$28,654 $36,654 $79,123 $48,189 
Disaggregation of Revenue and Noncurrent Assets
The following table presents the Company's revenue disaggregated by major product for the period ended June 30, 2025 and June 30, 2024:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
(in thousands)
Retail Media$60,913 $54,777 $120,411 $105,649 
Commerce Growth393,870 387,638 759,166 760,403 
Other27,888 28,892 54,528 55,310 
Performance Media421,758 416,530 813,694 815,713 
Total Revenue$482,671 $471,307 $934,105 $921,362 

The Company operates in three geographical markets:
•Americas: North and South America;
•Europe, Middle-East and Africa; and
•Asia-Pacific.
The following table discloses our consolidated revenue for each geographical area for each of the reported periods. Revenue by geographical area is based mainly on the location of advertisers’ campaigns.
Revenue generated in other significant countries where we operate is presented in the following table:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Americas
United States$178,413 $190,725 $352,912 $368,002 
EMEA
Germany$51,384 $48,876 $97,367 $98,753 
France$23,534 $22,476 $42,973 $43,949 
Asia-Pacific
Japan$55,441 $48,853 $109,592 $101,997 

For each reported period, noncurrent assets (corresponding to the net book value of tangible and intangible assets) are presented in the table below. The geographical information includes results from the locations of legal entities.
AmericasEMEAAsia-PacificTotal
(in thousands)
June 30, 2025$66,528 $205,709 $14,220 $286,457 
December 31, 2024$68,193 $186,035 $11,378 $265,606