• by Laurie Sullivan , Yesterday

Criteo released Q2 2025 earnings Wednesday, reporting that growth has slowed, but retail and performance media have skyrocketed.

Retail media net revenue rose 11% year-over-year -- growing more slowly than in 2024, when it rose 24%.

Total acquisition cost (TAC) for Criteo’s retail media business came in at $1 million during the second quarter. The company said it benefited from signing new retailers and strength in onsite and offsite campaigns.

Performance media revenue came in at $422 million. The company said it leveraged its large-scale commerce data and AI-powered audience modeling technology to find in-market shoppers.

Continued growth for Commerce Audiences and Retargeting also grew at a mid-single-digit rate.

Benefits from AI-driven performance enhancements paid off, despite a tough comparison with the significant AI improvements implemented last year.

AdTech services were negatively impacted by lower spend by a large client in its media trading marketplace, and overall benefited from a global, diversified client base.

"Our second quarter results highlight disciplined execution and a solid foundation for the future," stated Michael Komasinski, CEO at Criteo. "We are building a unified, outcome-based advertising platform for the next decade of commerce, anchored on AI innovation, to deliver long-term value for clients, partners, and shareholders."

About 4,000 brands and new retailers like Thermo Fisher, BJ's Wholesale Club, and grocers Weis Markets, Winn-Dixie, and Harveys Supermarkets via the company's digital commerce partner Mercatus in the U.S. now use its platform.

The company has launched an Auction-Based Display technology, bringing programmatic into retail media, with a global integration launched with Mirakl Ads to unlock mid-to-long-tail activation and accelerate marketplace revenue growth.

Overall, Criteo reported $483 million for the quarter, with gross profit of $259 million. Net income was $23 million.

Leadership changes also were announced. Sherry Smith, formerly executive managing director of the Americas, has been promoted to president of retail media. She will lead the execution of Criteo’s retail media ambitions to further advance its leadership in this fast-growing channel through monetization and AI-powered technology.

Todd Parsons, who joined Criteo in August 2020 as CPO, will assume the expanded role of Chief Product Officer and President, Performance Media. He will oversee Criteo’s Performance Media business to deliver AI-driven, full-funnel, cross-channel, self-service activation solutions that enhance every consumer interaction.