Criteo S.A. announced its financial results for the second quarter ended June 30, 2025, on July 30, 2025. Revenue for Q2 2025 increased 2% year-over-year to $483 million, remaining flat at constant currency. Contribution ex-TAC grew 9% to $292 million, or 7% at constant currency.
Net income for the quarter was $23 million, an 18% decrease year-over-year, with diluted EPS at $0.39, down 15%. Adjusted EBITDA for Q2 2025 was $89 million, a 4% decrease year-over-year, resulting in an adjusted diluted EPS of $0.92. Cash flow from operating activities was $(1) million, and Free Cash Flow was $(36) million.
Despite some GAAP metric declines, Criteo raised its full-year 2025 Contribution ex-TAC guidance to grow 3% to 4% year-over-year at constant currency, up from a previous estimate of more than 1% growth. The full-year 2025 Adjusted EBITDA margin guidance was also raised to approximately 34%. For Q3 2025, Contribution ex-TAC is expected between $280 million and $286 million, and Adjusted EBITDA between $98 million and $104 million. Criteo deployed $104 million for share repurchases in the first half of 2025.
In a separate announcement on the same day, Criteo made strategic leadership appointments to accelerate growth and innovation. Todd Parsons was appointed Chief Product Officer and President, Performance Media, while Sherry Smith was promoted to President, Retail Media. This new structure consolidates product, R&D, and commercial strategy under these leaders to sharpen focus and align execution with market opportunities.
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