- Criteo's (NASDAQ:CRTO) Q2 results beat top and bottom line estimates that had already baked in the pandemic's impact.
- Revenue ex-TAC declined 18% Y/Y at constant currency to $180M, slightly above the $178M guidance. The coronavirus impact was about $41M.
- Adjusted EBITDA fell 30% to $39M.
- Cash flow from operations totaled $33M, and FCF of $15M.
- Criteo had financial liquidity in excess of $830M as of June 30.
- For Q3, CRTO forecasts revenue ex-TAC of $171-173M (20-21% Y/Y decline) with adjusted EBITDA of $31-33M.
- Earnings call started at 8 AM with a webcast here.
- Press release.