NEW YORK, Dec. 14, 2017 /PRNewswire/ -- Criteo S.A.
(NASDAQ: CRTO), the leading commerce marketing technology company,
today provides an update on its fourth quarter 2017 outlook and on
the expected impact of Apple's Intelligent Tracking
Prevention (ITP) on Criteo's projected 2018 Revenue excluding
Traffic Acquisition Costs, or Revenue ex-TAC.
We are pleased with this year's Holiday Season and are confident
in our fourth quarter 2017 outlook, which we communicated on
November 1, 2017.
Earlier this month, Apple launched a new version of its mobile
operating system, iOS 11.2, which disables the solution that some
companies in the advertising ecosystem, including Criteo, currently
use to reach Safari users. As a result, we believe the projected
9%-13% ITP net negative impact on Criteo's 2018 Revenue ex-TAC
relative to our pre-ITP base case projections, communicated on
November 1, 2017, is no longer
valid.
We are focused on developing an alternative sustainable solution
for the long term, built on our best-in-class user privacy
standards, aligning the interests of Apple users, publishers and
advertisers. This solution is still under development and its
effectiveness cannot be assessed at this early stage. Should it not
mitigate any ITP impact, we believe the ITP net negative impact on
Criteo's 2018 Revenue ex-TAC, relative to our pre-ITP base case
projections, would become approximately 22%.
We will provide formal guidance on Revenue ex-TAC and Adjusted
EBITDA for fiscal 2018 mid-February
2018, when we report earnings for the fourth quarter and
fiscal year 2017. At that point, we will incorporate in our
guidance the latest assessment of the projected effectiveness of
our alternative solution.
Beyond the ITP-driven impediment to the Company's year-over-year
growth, we are confident in Criteo's future growth prospects. Our
core business fundamentals are strong. We have compelling growth
opportunities ahead, leveraging our data assets and building new
products within the Criteo Commerce Marketing Ecosystem.
Forward-Looking Statements Disclosure
This press
release contains forward-looking statements, including projected
financial results for the quarter ending December 31, 2017 and the year ending
December 31, 2018, our expectations regarding our market
opportunity and future growth prospects and other statements that
are not historical facts and involve risks and uncertainties that
could cause actual results to differ materially. Factors that might
cause or contribute to such differences include, but are not
limited to: failure related to our technology and our ability to
respond to changes in technology (including the failure of our
alternative solution to mitigate the impact of ITP), uncertainty
regarding our ability to access a consistent supply of internet
display advertising inventory and expand access to such inventory,
investments in new business opportunities and the timing of these
investments, whether the projected benefits of acquisitions
materialize as expected, uncertainty regarding international growth
and expansion, the impact of competition, uncertainty regarding
legislative, regulatory or self-regulatory developments regarding
data privacy matters, failure to enhance our brand
cost-effectively, recent growth rates not being indicative of
future growth, our ability to manage growth, potential fluctuations
in operating results, our ability to grow our base of clients, and
the financial impact of maximizing Revenue ex-TAC, as well as risks
related to future opportunities and plans, including the
uncertainty of expected future financial performance and results
and those risks detailed from time-to-time under the caption "Risk
Factors" and elsewhere in the Company's SEC filings and reports,
including the Company's Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as well as future filings and reports by the
Company. Except as required by law, the Company undertakes no duty
or obligation to update any forward-looking statements contained in
this release as a result of new information, future events, changes
in expectations or otherwise.
About Criteo
Criteo (NASDAQ: CRTO) the leader in
commerce marketing, is building the highest performing and open
commerce marketing ecosystem to drive profits and sales for
retailers and brands. More than 2,700 Criteo team members partner
with over 17,000 customers and thousands of publishers across the
globe to deliver performance at scale by connecting shoppers to the
things they need and love. Designed for commerce, Criteo Commerce
Marketing Ecosystem sees over $550 billion in annual commerce
sales data.
For more information, please visit www.criteo.com.
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SOURCE Criteo S.A.