Ad retargeting firm Criteo on Tuesday released its Q1 2014 financial results, and the company has reported strong year-over-year revenue growth.
Criteo had $211.6 million (€152.5 million) of revenue in Q1 2014, up over 60% from the $132.1 million (€94.9 million) in Q1 2013. The company also served over 5,500 clients last quarter, nearly 50% more than one year ago.
JB Rudelle, Criteo’s co-founder and CEO, noted in a statement that the quarter exceeded expectations. “We are pleased with the increasing contribution of mobile driving our growth, as well as the broadening of our client base across all markets.”
As Rudelle noted, mobile is playing an increasingly important role at the company. Mobile accounted for 15% of Criteo’s revenue ex-TAC (excluding Traffic Acquisition Costs) in March 2014, up from 10% in December 2013. The company’s total revenue ex-TAC in Q1 2014 was $87.3 million (€62.7 million).
Criteo says that 24% ($20.5 million / €14.7 million) of its global revenue ex-TAC came from the Americas region. The $20.5 million figure is up 53.9% from one year ago.
The company had a net income of $5.3 million (€3.8 million) during Q1 2014.
Despite the company's strong reported growth and burgeoning mobile activity, at press time Criteo shares were down 8.84% on the day to $28.45 per share.