Criteo Q1 Revenues up 71 per cent on 2014

criteo_rgbCriteo has announced its financial results for Q1 2015 with news of a 71 per cent increase in revenues year-on-year, having brought in €262m (£187m) in the first three months of the year.

The performance marketing company saw net income for the first quarter of 2015 increase to €12m, up from €4m in Q1 2014, and added over 640 net clients in Q1, a record for the firm.

“All in all, the financial performance was excellent,” said Eric Eichmann, president and COO of Criteo. “We also continue to grow our headcount. We grew to 1517 people, which is an increase of 64 per cent year-on-year. Obviously our people are one of our key drivers in terms of driving revenue growth, so were very pleased that were able to accelerate the hiring pace.”

The firm has seen great success with its multi-screen solution over the past year, with 84 per cent of its client base now using the platform to serve messaging across desktop and mobile devices.

“By and large, people have woken up to the fact that people are transacting on all kinds of devices,” said Eichmann. “About 34 per cent of transactions worldwide are now happening on mobile devices, and in countries that are setting the pace like Japan, its more like 50 per cent. Its very obvious to major retailers that this is a key channel, and its growing fast.

“Associated with that, one of the big pushes weve had since Q4 is with our cross-device product, which marries the data from all devices to give a user personalised ads. That is how consumers now are doing things; theyre interacting with all these devices, and they expect a seamless experience.”

Looking forward, Criteo is hoping to continue its global expansion, which has seen the company establish additional offices in the US, APAC and EMEA, and continue to improve its offerings.

“We are at core a technology company and were based on machine learning, so the more data we have, the faster we learn, the faster we improve our engine. Well continue to innovate and roll out our improved technology,” said Eichmann.

“As weve improved our engine and as we continue to improve our technology, whats becoming clearer and clearer is that we are by far the best in terms of the return-on-sale for our clients. Once theyve tried us (and this is why we have high retention) they stay with us.”