Criteo S.A. — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Criteo reported Q3 2026 revenue of $416M (down 11% YoY), gross profit of $208M (down 19%), and Contribution ex-TAC of $240M (down 17%). Retail Media revenue declined 23% due to $20M headwind from two specific client scope changes; Performance Media declined 9%. Net income fell 85% to $6M ($0.11 diluted EPS). Adjusted EBITDA was $65M (down 39% YoY). For FY2026, company guided Contribution ex-TAC to decline 12-10% YoY; Q4 2026 guided $292-298M Contribution ex-TAC. Company repurchased $65M of stock in nine months and expects U.S. domicile transfer by January 1, 2027.
Why this rating
Substantial earnings decline (net income -85%, Adjusted EBITDA -39%) relative to $1.3B market cap; meaningful revenue contraction driven by specific client losses in Retail Media. However, not existential—company maintains $326M liquidity, positive FCF ($21M Q3), and has strategic growth initiatives (CTV, AI partnerships). Moderately concerning but within normal cyclical downturn range.
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