Criteo (CRTO) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-36153
Entity Registrant Name	Criteo S.A.
Entity Incorporation, State or Country Code	I0
Entity Address, Address Line One	32 Rue Blanche
Entity Address, City or Town	Paris
Entity Address, Country	FR
Entity Address, Postal Zip Code	75009
Country Region	33
City Area Code	40
Local Phone Number	40 22 90
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,722,263
Entity Central Index Key	0001576427
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
American Depositary Shares
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares, each representing one Ordinary Share,nominal value €0.025 per share
Trading Symbol	CRTO
Security Exchange Name	NASDAQ
Ordinary Shares
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares, nominal value €0.025 per share
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 497,458	$ 488,011
Trade receivables, net of allowances of $44.7 million and $39.9 million at September 30, 2021 and December 31, 2020, respectively	439,493	474,055
Income taxes	14,276	11,092
Other taxes	75,214	69,987
Other current assets	23,185	21,405
Marketable securities - current portion	46,311	0
Total current assets	1,095,937	1,064,550
Property, plant and equipment, net	150,112	189,505
Intangible assets, net	89,288	79,744
Goodwill	330,561	325,805
Right of use assets - operating lease	117,273	114,012
Marketable securities - non current portion	10,000	41,809
Non-current financial assets	7,371	18,109
Deferred tax assets	13,951	19,876
Total non-current assets	718,556	788,860
Total assets	1,814,493	1,853,410
Current liabilities:
Trade payables	349,985	367,025
Contingencies	2,828	2,250
Income taxes	489	2,626
Financial liabilities - current portion	489	2,889
Lease liability - operating - current portion	31,309	48,388
Other taxes	53,249	58,491
Employee - related payables	72,679	85,272
Other current liabilities	38,818	33,390
Total current liabilities	549,846	600,331
Deferred tax liabilities	4,138	5,297
Defined benefit plans	6,167	6,167
Financial liabilities - non current portion	367	386
Lease liability - operating - non current portion	92,859	83,007
Other non-current liabilities	9,864	5,535
Total non-current liabilities	113,395	100,392
Total liabilities	663,241	700,723
Commitments and contingencies
Shareholders' equity:
Common shares, €0.025 par value, 66,315,019 and 66,272,106 shares authorized, issued and outstanding at September 30, 2021, and December 31, 2020, respectively.	2,162	2,161
Treasury stock, 5,544,527 and 5,632,536 shares at cost as of September 30, 2021 and December 31, 2020, respectively.	(122,390)	(85,570)
Additional paid-in capital	727,613	693,164
Accumulated other comprehensive income (loss)	(25,349)	16,028
Retained earnings	534,320	491,359
Equity-attributable to shareholders of Criteo S.A.	1,116,356	1,117,142
Non-controlling interests	34,896	35,545
Total equity	1,151,252	1,152,687
Total equity and liabilities	$ 1,814,493	$ 1,853,410

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) (Parenthetical) $ in Thousands	Sep. 30, 2021€ / shares	Sep. 30, 2021USD ($)shares	Dec. 31, 2020€ / shares	Dec. 31, 2020USD ($)shares
Statement of Financial Position [Abstract]
Trade receivables, allowances | $		$ 44,730		$ 39,899
Common shares, par value (in euro per share) | € / shares	€ 0.025		€ 0.025
Common shares authorized (in shares)		66,315,019		66,272,106
Common shares issued (in shares)		66,315,019		66,272,106
Common shares outstanding (in shares)		66,315,019		66,272,106
Treasury stock (in shares)		5,544,527		5,632,536

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 508,580	$ 470,345	$ 1,600,968	$ 1,411,335
Cost of revenue:
Traffic acquisition costs	(297,619)	(284,401)	(956,364)	(839,463)
Other cost of revenue	(34,935)	(34,608)	(107,011)	(102,328)
Gross profit	176,026	151,336	537,593	469,544
Operating expenses:
Research and development expenses	(33,345)	(30,954)	(106,957)	(99,716)
Sales and operations expenses	(75,619)	(83,659)	(235,724)	(244,414)
General and administrative expenses	(34,877)	(28,672)	(108,779)	(83,772)
Total operating expenses	(143,841)	(143,285)	(451,460)	(427,902)
Income from operations	32,185	8,051	86,133	41,642
Financial expense	(154)	(491)	(1,391)	(1,828)
Income before taxes	32,031	7,560	84,742	39,814
Provision for income taxes	(7,801)	(2,267)	(22,033)	(11,943)
Net income	24,230	5,293	62,709	27,871
Net income available to shareholders of Criteo S.A.	23,481	5,227	60,691	26,402
Net income available to non-controlling interests	$ 749	$ 66	$ 2,018	$ 1,469
Weighted average shares outstanding used in computing per share amounts:
Basic (in shares)	60,873,594	60,080,598	60,759,613	61,059,345
Diluted (in shares)	64,197,686	61,027,795	64,313,526	61,644,827
Net income allocated to shareholders per share:
Basic (in USD per share)	$ 0.39	$ 0.09	$ 1	$ 0.43
Diluted (in USD per share)	$ 0.37	$ 0.09	$ 0.94	$ 0.43

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 24,230	$ 5,293	$ 62,709	$ 27,871
Foreign currency translation differences, net of taxes	(18,394)	25,660	(44,934)	21,312
Actuarial (losses) gains on employee benefits, net of taxes	25	(377)	683	0
Other comprehensive income (loss)	(18,369)	25,283	(44,251)	21,312
Total comprehensive income	5,861	30,576	18,458	49,183
Attributable to shareholders of Criteo S.A.	5,569	29,866	19,314	46,849
Attributable to non-controlling interests	$ 292	$ 710	$ (856)	$ 2,334

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands		Total	Equity - attributable to shareholders of Criteo S.A.	Share capital	Treasury Stock	Additional paid-in capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non controlling interest
Beginning balance (in shares) at Dec. 31, 2019				66,197,181	3,903,673
Beginning balance at Dec. 31, 2019		$ 1,037,988	$ 1,007,267	$ 2,158	$ (74,900)	$ 668,389	$ (40,105)	$ 451,725	$ 30,721
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		16,428	15,459					15,459	969
Other comprehensive income (loss)		(14,198)	(14,178)				(14,178)		(20)
Issuance of ordinary shares (in shares)				5,700
Issuance of ordinary shares		39	39			39
Change in treasury stocks (in shares)					(629,977)
Change in treasury stocks		(18,239)	(18,239)		$ (4,934)			(13,305)
Share-Based Compensation		8,131	8,082			8,082			49
Other changes in equity	[1]	(3,541)	(3,399)					(3,399)	(142)
Ending Balance (in shares) at Mar. 31, 2020				66,202,881	4,533,650
Ending Balance at Mar. 31, 2020		1,026,608	995,031	$ 2,158	$ (79,834)	676,510	(54,283)	450,480	31,577
Beginning balance (in shares) at Dec. 31, 2019				66,197,181	3,903,673
Beginning balance at Dec. 31, 2019		1,037,988	1,007,267	$ 2,158	$ (74,900)	668,389	(40,105)	451,725	30,721
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		27,871
Other comprehensive income (loss)		21,312
Ending Balance (in shares) at Sep. 30, 2020				66,083,172	5,989,258
Ending Balance at Sep. 30, 2020		1,061,912	1,028,820	$ 2,155	$ (92,450)	685,841	(19,658)	452,932	33,092
Beginning balance (in shares) at Mar. 31, 2020				66,202,881	4,533,650
Beginning balance at Mar. 31, 2020		1,026,608	995,031	$ 2,158	$ (79,834)	676,510	(54,283)	450,480	31,577
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		6,150	5,716					5,716	434
Other comprehensive income (loss)		10,227	9,986				9,986		241
Issuance of ordinary shares (in shares)				2,000
Issuance of ordinary shares		13	13			13
Change in treasury stocks (in shares)					(1,055,758)
Change in treasury stocks		(14,861)	(14,861)		$ (10,880)			(3,981)
Share-Based Compensation		6,804	6,765			6,765			39
Other changes in equity		56	32					32	24
Ending Balance (in shares) at Jun. 30, 2020				66,204,881	5,589,408
Ending Balance at Jun. 30, 2020		1,034,997	1,002,682	$ 2,158	$ (90,714)	683,288	(44,297)	452,247	32,315
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		5,293	5,227					5,227	66
Other comprehensive income (loss)		25,283	24,639				24,639		644
Issuance of ordinary shares (in shares)				35,150
Issuance of ordinary shares		167	167			167
Change in treasury stocks (in shares)					(399,850)
Change in treasury stocks		(10,487)	(10,487)		$ (5,636)			(4,851)
Share-Based Compensation		6,458	6,391			6,391			67
Other changes in equity (in shares)	[2]			(156,859)
Other changes in equity	[2]	201	201	$ (3)	$ 3,900	(4,005)		309
Ending Balance (in shares) at Sep. 30, 2020				66,083,172	5,989,258
Ending Balance at Sep. 30, 2020		1,061,912	1,028,820	$ 2,155	$ (92,450)	685,841	(19,658)	452,932	33,092
Beginning balance (in shares) at Dec. 31, 2020				66,272,106	5,632,536
Beginning balance at Dec. 31, 2020		1,152,687	1,117,142	$ 2,161	$ (85,570)	693,164	16,027	491,359	35,545
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		23,450	22,406					22,406	1,044
Other comprehensive income (loss)		(36,354)	(33,852)				(33,852)		(2,502)
Issuance of ordinary shares (in shares)				119,800
Issuance of ordinary shares		2,151	2,151	$ 3		2,148
Change in treasury stocks (in shares)	[3]				(34,935)
Change in treasury stocks	[3]	(4,930)	(4,930)		$ (1,693)			(3,237)
Share-Based Compensation		6,760	6,710			6,710			50
Ending Balance (in shares) at Mar. 31, 2021				66,391,906	5,597,601
Ending Balance at Mar. 31, 2021		1,143,763	1,109,626	$ 2,164	$ (87,263)	702,022	(17,825)	510,528	34,137
Beginning balance (in shares) at Dec. 31, 2020				66,272,106	5,632,536
Beginning balance at Dec. 31, 2020		1,152,687	1,117,142	$ 2,161	$ (85,570)	693,164	16,027	491,359	35,545
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		62,709
Other comprehensive income (loss)		$ (44,251)
Change in treasury stocks (in shares)		(1,923,860)
Ending Balance (in shares) at Sep. 30, 2021				66,315,019	5,544,527
Ending Balance at Sep. 30, 2021		$ 1,151,252	1,116,356	$ 2,162	$ (122,390)	727,613	(25,349)	534,320	34,896
Beginning balance (in shares) at Mar. 31, 2021				66,391,906	5,597,601
Beginning balance at Mar. 31, 2021		1,143,763	1,109,626	$ 2,164	$ (87,263)	702,022	(17,825)	510,528	34,137
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		15,029	14,804					14,804	225
Other comprehensive income (loss)		10,472	10,387				10,387		85
Issuance of ordinary shares (in shares)				305,454
Issuance of ordinary shares		7,577	7,577	$ 9		7,568
Change in treasury stocks (in shares)					(482,407)
Change in treasury stocks		(29,999)	(29,999)		$ (24,560)			(5,439)
Share-Based Compensation		11,227	11,172			11,172			55
Ending Balance (in shares) at Jun. 30, 2021				66,697,360	6,080,008
Ending Balance at Jun. 30, 2021		1,158,069	1,123,567	$ 2,173	$ (111,823)	720,762	(7,438)	519,893	34,502
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		24,230	23,481					23,481	749
Other comprehensive income (loss)		(18,369)	(17,911)				(17,911)		(458)
Issuance of ordinary shares (in shares)				382,341
Issuance of ordinary shares		12,183	12,183	$ 16		12,167
Change in treasury stocks (in shares)					(535,481)
Change in treasury stocks		(37,684)	(37,684)	$ (27)	$ (10,567)	(18,036)		(9,054)
Share-Based Compensation		12,823	12,720			12,720			103
Ending Balance (in shares) at Sep. 30, 2021				66,315,019	5,544,527
Ending Balance at Sep. 30, 2021		$ 1,151,252	$ 1,116,356	$ 2,162	$ (122,390)	$ 727,613	$ (25,349)	$ 534,320	$ 34,896
[1]	From January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost issued by the Financial Accounting Standards Board (FASB).
[2]	Deferred consideration in the context of Storetail Marketing SAS acquisition in 2018.
[3]	On February 5, 2021, Criteo's Board of Directors authorized a share repurchase program of up to $100.0 million of the Company's outstanding American Depositary Shares. The change in treasury stocks is comprised of 1,923,860 shares repurchased at an average price of $37.9 offset by 1,144,982 treasury shares used for RSUs vesting and 866,887 treasury shares cancelled.

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - USD ($)	Feb. 05, 2021	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Authorized amount of share repurchase program	$ 100,000,000
Change in treasury stocks (in shares)		1,923,860
Treasury stock acquired, average cost per share (in dollars per share)		$ 37.9
Treasury shares used for RSUs vesting (in shares)	1,144,982
Treasury shares cancelled (in shares)	866,887
Share-based compensation expense		$ 30,808,000

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Cash from operating activities
Net income		$ 62,709	$ 27,871
Non-cash and non-operating items		103,573	105,742
- Amortization and provisions		67,919	79,631
- Net gain or (loss) on disposal of non-current assets		4,694	2,734
- Equity awards compensation expense	[1]	32,174	22,465
- Change in deferred taxes		4,568	(7,697)
- Change in income taxes		(5,820)	7,411
- Other		38	1,198
Changes in working capital related to operating activities		(11,381)	7,663
- (Increase) / Decrease in trade receivables		16,654	122,529
- Increase / (Decrease) in trade payables		(5,693)	(95,303)
- (Increase) / Decrease in other current assets		(12,710)	2,288
- Increase/ (Decrease) in other current liabilities		(5,774)	(20,145)
- Change in operating lease liabilities and right of use assets		(3,858)	(1,706)
Cash from operating activities		154,901	141,276
Cash used for investing activities
Acquisition of intangible assets, property, plant and equipment		(44,383)	(57,037)
Change in accounts payable related to intangible assets, property, plant and equipment		1,518	13,870
Payment for a business, net of cash acquired		(9,527)	(3)
Change in other non-current financial assets		(13,803)	(20,629)
Cash used for investing activities		(66,195)	(63,799)
Cash (used for) from financing activities
Proceeds from borrowings under line-of-credit agreement		0	157,503
Repayment of borrowings		(1,262)	(181)
Proceeds from exercise of stock options		21,688	101
Repurchase of treasury stocks		(72,611)	(43,655)
Change in other financial liabilities		(3,636)	(2,010)
Cash (used for) from financing activities		(55,821)	111,758
Effect of exchange rates changes on cash and cash equivalents		(23,438)	18,746
Net increase in cash and cash equivalents		9,447	207,981
Net cash and cash equivalents at beginning of period		488,011	418,763
Net cash and cash equivalents at end of period		497,458	626,744
Supplemental disclosures of cash flow information
Cash paid for taxes, net of refunds		(23,285)	(12,229)
Cash paid for interest		$ (1,139)	$ (819)
[1]	Of which $30.8 million and $21.4 million of equit y awards compensation expense consisted of share-based compensation expense according to ASC 718 Compensation - stock compensation for the nine months ended September 30, 2021 and 2020, respectively.

CONDENSED CONSOLIDATED STATEM_8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Share-based compensation expense	$ 12,822	$ 6,457	$ 30,808	$ 21,392

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements included herein (the "Unaudited Condensed Consolidated Financial Statements") have been prepared by Criteo pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021. The unaudited condensed consolidated financial statements included herein reflect all adjustments (consisting of normal, recurring adjustments) which are, in the opinion of management, necessary to state fairly the results for the interim periods presented. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for the fiscal year. Conformity with U.S. GAAP requires the use of estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses in the condensed consolidated financial statements and accompanying notes. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. Our actual results may differ from these estimates. U.S. GAAP requires us to make estimates and judgments in several areas, including, but not limited to: (1) revenue recognition criteria, (2) allowances for credit losses, (3) research tax credits, (4) income taxes, including (i) recognition of deferred tax assets arising from the subsidiaries projected taxable profit for future years, (ii) evaluation of uncertain tax positions associated with our transfer pricing policy and (iii) recognition of income tax position in respect with tax reforms recently enacted in countries we operate, (5) assumptions used in valuing acquired assets and assumed liabilities in business combinations, (6) assumptions used in the valuation of goodwill, intangible assets and right of use assets - operating lease, and (7) assumptions used in the valuation model to determine the fair value of share-based compensation plan. The severity, magnitude, duration and after-effects of the COVID-19 pandemic on general economic conditions increase uncertainty associated with these estimates, in particular those related to allowance for credit losses, assumptions used in the valuation of goodwill and estimates relating to income taxes. There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, except for the update to our existing accounting policy described below: Revenue Recognition Principal vs Agent: For certain customer arrangements, related to transactions using our Retail Media Platform, a new self-service solution providing transparency, measurement and control to our brand and retailer customers, we act as agent, because we (i) do not control the advertising inventory before it is transferred to our clients, (ii) do not have inventory risks because we do not purchase the inventory upfront and (iii) have limited discretion in establishing prices as we charge a platform fee based on a percentage of the digital advertising inventory purchased through the use of the platform. Therefore, based on these and other factors, we report the revenue earned and related costs incurred by the Retail Media Platform solution on a net basis. Accounting Pronouncements Adopted in 2021 Effective January 1, 2021, we have adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. The adoption of this new standard did not have a material impact on our consolidated financial statements. Effective January 1, 2021, we have adopted the FASB ASU No. 2018-14, C ompensation - Retirement Benefits - Defined Benefit Plans - General. The purpose of this update is to modify disclosure requirements for Defined Benefit Plans. It removes requirements to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year among others. It adds disclosure requirements for the items such as an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The adoption of this new standard did not have a material impact on our consolidated financial statements. Recent Accounting Pronouncements Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s Consolidated Financial Statements upon adoption.

Significant Events and Transact

Significant Events and Transactions of the Period	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Significant Events and Transactions of the Period	Significant Events and Transactions of the Period Restructuring On February 1, 2021, the Company announced a plan to restructure its workforce across functions and regions to better align wi th the Company's evolution. We expect the plan will be completed by the end of 2021. The Company recorded $4.6 million of restructuring charges for severance related to this plan during the nine months ended September 30, 2021. For the period ended September 30, 2021, $3.4 million was included in Sales and Operations expenses, $1.1 million was included in General and Administrative expenses and $0.1 million was included in Research and Development expenses. The following table presents the breakdown of restructuring liability as of September 30, 2021, presented as part of employees related payables on the balance sheet: (in thousands) Restructuring liability - January 1, 2021 $ 510 Restructuring costs 4,637 Amount paid (3,600) Restructuring liability - September 30, 2021 1,547 Acquisition of Doobe In Site Ltd. On May 18, 2021, we completed the acquisition of all of the outstanding shares of Doobe In Site Ltd. ("Mabaya"), a leading retail media technology company that powers sponsored products and retail media monetization for major ecommerce marketplaces globally. The total consideration paid was $9.9 million for the acquisition of shares. The acquisition was financed by available cash resources. The transaction has been accounted for as a business combination under the acquisition method of accounting. The purchase price allocation is in progress. A preliminary valuation of the fair value of Mabaya's assets acquired and liabilities assumed resulted in the identification of technology of $8.0 million, a $5.1 million employee related payable and a $2.5 million liability relating to a redemption fee payable to a governmental agency. Provisional goodwill amounted to $8.5 million, subject to post-closing purchase price adjustments. Once this valuation analysis is finalized, the estimate of the fair value of the assets acquired and liabilities assumed may be adjusted. The Company will finalize these amounts no later than one year from the acquisition date. In addition, acquisition costs amounting to $0.5 million were fully expensed as incurred.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Financial assets The maximum exposure to credit risk at the end of each reported period is represented by the carrying amount of financial assets and summarized in the following table: September 30, 2021 December 31, 2020 (in thousands) Trade receivables, net of allowances 439,493 474,055 Other taxes 75,214 69,987 Other current assets 23,185 21,405 Non-current financial assets 7,371 18,109 Marketable securities 56,311 41,809 Total $ 601,574 $ 625,365 For our financial assets, other than trade receivables, net of allowances, the fair value approximates the carrying amount, given the nature of the financial assets and the maturity of the expected cash flows. Financial Liabilities September 30, 2021 December 31, 2020 (in thousands) Trade payables $ 349,985 $ 367,025 Other taxes 53,249 58,491 Employee-related payables 72,679 85,272 Other current liabilities 38,818 33,390 Financial liabilities 856 3,275 Total $ 515,587 $ 547,453 The fair value of financial liabilities approximates the carrying amount, given the nature of the financial liabilities and the maturity of the expected cash outflows. Fair Value Measurements We measure the fair value of our cash equivalents and marketable securities, which include interest-bearing bank deposits, as level 2 measurements because they are valued using observable market data. Financial assets or liabilities include derivative financial instruments used to manage our exposure to the risk of exchange rate fluctuations. These instruments are considered level 2 financial instruments as they are measured using valuation techniques based on observable market data. Derivative Financial Instruments Derivatives consist of foreign currency forward contracts that we use to hedge intercompany transactions and other monetary assets or liabilities denominated in currencies other than the local currency of a subsidiary. We recognize gains and losses on these contracts in financial income (expense), and their position on the balance sheet is based on their fair value at the end of each respective period. These instruments are considered level 2 financial instruments as they are measured using valuation techniques based on observable market data. September 30, 2021 December 31, 2020 (in thousands) Derivative Liabilities: Included in financial liabilities - current portion $ (155) $ 925 The fair value of derivative financial instruments approximates the notional amount, given the nature of the derivative financial instruments and the maturity of the expected cash flows. Cash and Cash Equivalents The following table presents for each reporting period, the breakdown of cash and cash equivalents: September 30, 2021 December 31, 2020 (in thousands) Cash equivalents $ 116,834 $ 162,457 Cash on hand 380,624 325,554 Total cash and cash equivalents $ 497,458 $ 488,011 Cash equivalents are investments in interest–bearing bank deposits which meet ASC 230—Statement of Cash flows criteria: short-term, highly liquid investments, for which the risks of changes in value are considered to be insignificant. Interest-bearing bank deposits are considered level 2 financial instruments as they are measured using valuation techniques based on observable market data. For our cash and cash equivalents, the fair value approximates the carrying amount, given the nature of the cash and cash equivalents and the maturity of the expected cash flows. Marketable Securities The following table presents for each reporting period, the breakdown of the fair value of marketable securities: September 30, 2021 December 31, 2020 (in thousands) Securities Available-for-sale Term Deposits $ 23,158 $ 24,538 Securities Held-to-maturity Term Deposits $ 33,153 $ 17,271 Total $ 56,311 $ 41,809 The gross unrealized gains on our marketable securities were not material as of September 30, 2021. Term deposits are considered a level 2 financial instrument as they are measured using valuation techniques based on observable market data. The following table classifies our marketable securities by contractual maturities: Held-to-maturity Available-for-sale September 30, 2021 (in thousands) Due in one year $ 23,153 $ 23,158 Due in one to five years $ 10,000 $ — Total $ 33,153 $ 23,158

Trade Receivables

Trade Receivables	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Trade Receivables	Trade Receivables The following table shows the breakdown in trade receivables net book value for the presented periods: September 30, 2021 December 31, 2020 (in thousands) Trade accounts receivables $ 484,223 $ 513,954 (Less) Allowance for credit losses (44,730) (39,899) Net book value at end of period $ 439,493 $ 474,055 Changes in allowance for credit accounts are summarized below: 2021 2020 (in thousands) Balance at January 1 $ (39,899) $ (16,068) Allowance for credit losses through retained earnings (*) — (3,503) Allowance for credit losses (9,765) (26,465) Reversal of provision 3,895 7,944 Currency translation adjustment 1,039 (185) Balance at September 30 $ (44,730) $ (38,277) (*) On January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost issued by the Financial Accounting Standards Board (FASB). ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss model which requires the use of forward-looking information to calculate credit loss estimates. This results in earlier recognition of credit losses. We adopted ASU 2016-13 effective January 1, 2020 with the cumulative effect of adoption recorded as an adjustment to retained earnings. We write off accounts receivable balances once the receivables are no longer deemed collectible. During the nine month period ended September 30, 2021, and September 30, 2020, the Company recovered $2.0 million, and $2.8 million, respectively, previously reserved for, and accounted for this as a reversal of provision. As of September 30, 2021 and December 31, 2020 no customer accounted for 10% or more of trade receivables.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	Other Current Assets The following table shows the breakdown in other current assets net book value for the presented periods: September 30, 2021 December 31, 2020 (in thousands) Prepayments to suppliers $ 8,151 $ 5,613 Other debtors 4,785 5,991 Prepaid expenses 10,249 9,801 Net book value at end of period $ 23,185 $ 21,405 Prepaid expenses mainly consist of costs related to SaaS arrangements.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities are presented in the following table: September 30, 2021 December 31, 2020 (in thousands) Current liabilities to clients $ 15,144 $ 12,234 Rebates 16,080 14,433 Accounts payable relating to capital expenditures 4,056 4,721 Other creditors 3,158 1,918 Deferred revenue 380 84 Total $ 38,818 $ 33,390

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases The components of lease expense are as follows: Three Months Ended September 30, 2021 September 30, 2020 Offices Data Centers Total Offices Data Centers Total (in thousands) Lease expense $ 2,383 $ 5,703 $ 8,086 $ 6,969 $ 7,199 $ 14,168 Short term lease expense 141 26 167 115 — 115 Variable lease expense 63 66 129 307 22 329 Sublease income (233) — (233) (338) — (338) Total operating lease expense $ 2,354 $ 5,795 $ 8,149 $ 7,053 $ 7,221 $ 14,274 Nine Months Ended September 30, 2021 September 30, 2020 Offices Data Centers Total Offices Data Centers Total (in thousands) Lease expense $ 15,800 $ 18,561 $ 34,361 $ 20,770 $ 20,519 $ 41,289 Short term lease expense 342 40 382 332 — 332 Variable lease expense 307 268 575 320 110 430 Sublease income (709) — (709) (514) — (514) Total operating lease expense $ 15,740 $ 18,869 $ 34,609 $ 20,908 $ 20,629 $ 41,537

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits According to the French law and the Syntec Collective Agreement, French employees are entitled to compensation paid on retirement. The following table summarizes the changes in the projected benefit obligation: Projected benefit obligation (in thousands) Projected benefit obligation present value at January 1, 2020 $ 8,485 Service cost 2,232 Interest cost 95 Actuarial losses (gains) (5,214) Currency translation adjustment 569 Projected benefit obligation present value at December 31, 2020 $ 6,167 Service cost 1,005 Interest cost 38 Actuarial losses (gains) (683) Currency translation adjustment (360) Projected benefit obligation present value at September 30, 2021 $ 6,167 The Company does not hold any plan assets for any of the periods presented. The main assumptions used for the purposes of the actuarial valuations are listed below: Nine Months Ended Year ended September 30, 2021 December 31, 2020 Discount rate (Corp AA) 1.25% 0.85% Expected rate of salary increase 5% 5% Expected rate of social charges 49% - 50% 49% - 50% Expected staff turnover —% - 17.8% —% - 17.8% Estimated retirement age Progressive table Progressive table Life table TH-TF 2000-2002 shifted TH-TF 2000-2002 shifted Defined Contribution Plans The total expense represents contributions payable to these plans by us at specified rates. In some countries, the Group’s employees are eligible for pension payments and similar financial benefits. The Group provides these benefits via defined contribution plans. Under defined contribution plans, the Group has no obligation other than to pay the agreed contributions, with the corresponding expense charged to income for the year. The main contributions concern France, the United States (for 401k plans), and the United Kingdom. Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (in thousands) Defined contributions plans included in personnel expenses $ (3,638) $ (3,637) $ (12,638) $ (11,508)

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of revenue The following table presents our disaggregated revenues: Marketing Solutions Retail Media Total For the three months ended (in thousands) September 30, 2021 $ 458,622 $ 49,958 $ 508,580 September 30, 2020 $ 412,126 $ 58,219 $ 470,345 Marketing Solutions Retail Media Total For the nine months ended (in thousands) September 30, 2021 $ 1,429,277 $ 171,691 $ 1,600,968 September 30, 2020 $ 1,263,169 $ 148,166 $ 1,411,335

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The board of directors has been authorized by the general meeting of the shareholders to grant employee warrants (Bons de Souscription de Parts de Créateur d’Entreprise or "BSPCEs"), share options (Options de Souscription d'Actions or "OSAs"), restricted share units ("RSUs") and non-employee warrants ( Bons de Souscription d'Actions or "BSAs") . During the nine months ended September 30, 2021, there w ere five grants o f RSUs under the Employee Share Option Plan 13 as defined in Note 19 to our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. On February 25, 2021, 96,450 RSUs were granted to Criteo employees subject to continued employment and 235,850 RSUs and 235,848 PSUs were granted to members of the management subject to continued employment. On April 29, 2021, 758,979 RSUs were granted to Criteo employees subject to continued employment. On June 14, 2021, 858,511 RSUs were granted to Criteo employees subject to continued employment and 14,421 PSUs were granted to members of the management subject to continued employment. On June 24, 2021, 56,500 RSUs were granted to Criteo employees subject to continued employment. On July 29, 2021, 75,080 RSUs were granted to Criteo employees subject to continued employment. There have been no changes in the vesting and method of valuation of the BSPCEs, OSAs, RSUs, or BSAs from what was disclosed in Note 19 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021. Change in number of outstanding BSPCE / OSA / RSU / BSA OSA/BSPCE RSU/PSU BSA Total Balance at January 1, 2021 2,102,158 4,954,091 343,775 7,400,024 Granted — 2,331,639 — 2,331,639 Exercised (OSA/BSPCE/BSA) (898,627) — — (898,627) Vested (RSU) — (1,118,523) — (1,118,523) Forfeited (389,149) (464,052) — (853,201) Expired — — — — Balance at September 30, 2021 814,382 5,703,155 343,775 6,861,312 Breakdown of the Closing Balance OSA/BSPCE RSU BSA Number outstanding 814,382 5,703,155 343,775 Weighted-average exercise price € 19.82 NA € 15.12 Number vested 458,600 — 343,775 Weighted-average exercise price € 24.38 NA € 15.12 Weighted-average remaining contractual life of options outstanding, in years 6.07 NA 6.04 Reconciliation with the Unaudited Consolidated Statements of Income Three Months Ended September 30, 2021 September 30, 2020 (in thousands) R&D S&O G&A Total R&D S&O G&A Total RSUs $ (4,858) $ (3,818) $ (3,931) $ (12,607) $ (3,333) $ (2,957) $ (595) $ (6,885) Share options / BSPCE — (58) (157) (215) — (233) 661 428 Total share-based compensation (4,858) (3,876) (4,088) (12,822) (3,333) (3,190) 66 (6,457) BSAs — — (467) (467) — — (346) (346) Total equity awards compensation expense $ (4,858) $ (3,876) $ (4,555) $ (13,289) $ (3,333) $ (3,190) $ (280) $ (6,803) Nine Months Ended September 30, 2021 September 30, 2020 (in thousands) R&D S&O G&A Total R&D S&O G&A Total RSUs $ (11,572) $ (9,026) $ (9,402) $ (30,000) $ (7,771) $ (8,092) $ (5,168) $ (21,031) Share options / BSPCE — (240) (568) (808) — (288) (73) (361) Total share-based compensation (11,572) (9,266) (9,970) (30,808) (7,771) (8,380) (5,241) (21,392) BSAs — — (1,366) (1,366) — — (1,073) (1,073) Total equity awards compensation expense $ (11,572) $ (9,266) $ (11,336) $ (32,174) $ (7,771) $ (8,380) $ (6,314) $ (22,465)

Financial Income and Expenses

Financial Income and Expenses	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
Financial Income and Expenses	Financial Income and Expenses The condensed consolidated statements of income line item “Financial income (expense)” can be broken down as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (in thousands) Financial income from cash equivalents $ 179 $ 108 $ 505 $ 551 Interest and fees (445) (677) (1,491) (1,920) Interest on debt (361) (437) (1,242) (1,455) Fees (84) (240) (249) (465) Foreign exchange gain (loss) 952 107 (367) (389) Other financial expense (840) (29) (38) (70) Total financial expense $ (154) $ (491) $ (1,391) $ (1,828) The $0.2 million and the $1.4 million financial expenses for the three and nine month periods ended September 30, 2021, respectively, were driven by the up-front fees amortization, the non-utilization costs, the financial expense relating to our available Revolving Credit Facility ("RCF") financing and the recognition of a negative impact of foreign exchange reevaluations net of related hedging. At September 30, 2021, our exposure to foreign currency risk was centralized at Criteo S.A. and hedged using foreign currency swaps or forward purchases or sales of foreign currencies.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Breakdown of Income Taxes The tax provision for interim periods is determined using an estimate of our annual effective tax rate (“AETR”), adjusted for discrete items arising in the period. To calculate our estimated AETR, we estimate our income before taxes and the related tax expense or benefit for the full fiscal year (total of expected current and deferred tax provisions), excluding the effect of significant unusual or infrequently occurring items or comprehensive income items not recognized in the statement of income. Each quarter, we update our estimate of the annual effective tax rate, and if our estimated annual tax rate does change, we make a cumulative adjustment in that quarter. Our quarterly tax provision, and our quarterly estimate of our annual effective tax rate, are subject to significant volatility due to several factors including our ability to accurately predict our income (loss) before provision for income taxes in multiple jurisdictions and the changes in foreign exchange rates. Our effective tax rate in the future will depend on the portion of our profits earned within and outside of France. The condensed consolidated statements of income line item “Provision for income taxes” can be broken down as follows: Nine Months Ended September 30, 2021 September 30, 2020 (in thousands) Current income tax $ (17,465) $ (19,640) Net change in deferred taxes (4,568) 7,697 Provision for income taxes $ (22,033) $ (11,943) For the nine months ended September 30, 2021 and September 30, 2020, we used an annual estimated tax rate of 26% and 30%, respectively, to calculate the provision for income taxes. Current tax assets and liabilities The total amount of current tax assets and liabilities consists mainly of prepayments of income taxes and credits o f Criteo S.A, Criteo Corp, and Criteo GmbH.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic Earnings Per Share We calculate basic earnings per share by dividing the net income for the period attributable to shareholders of the Parent by the weighted average number of shares outstanding. Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net income attributable to shareholders of Criteo S.A. $ 23,481 $ 5,227 $ 60,691 $ 26,402 Weighted average number of shares outstanding 60,873,594 60,080,598 60,759,613 61,059,345 Basic earnings per share $ 0.39 $ 0.09 $ 1.00 $ 0.43 Diluted Earnings Per Share We calculate diluted earnings per share by dividing the net income attributable to shareholders of the Parent by the weighted average number of shares outstanding plus any potentially dilutive shares not yet issued from share-based compensation plans (see Note 10). There were no other potentially dilutive instruments outstanding as of September 30, 2021 and September 30, 2020. Consequently, all potential dilutive effects from shares are considered. For each period presented, a contract to issue a certain number of shares (i.e, share option, non-employee warrant, employee warrant ("BSPCE")) is assessed as potentially dilutive if it is “in the money” (i.e., the exercise or settlement price is lower than the average market price). Three Months Ended Nine Months Ended September 30, 2021 September 30, September 30, 2021 September 30, 2020 Net income attributable to shareholders of Criteo S.A. $ 23,481 $ 5,227 $ 60,691 $ 26,402 Weighted average number of shares outstanding of Criteo S.A. 60,873,594 60,080,598 60,759,613 61,059,345 Dilutive effect of : Restricted share awards ("RSUs") 2,865,581 811,136 3,074,241 440,835 Share options and BSPCE 334,028 128,291 375,211 133,865 Share warrants 124,483 7,770 104,461 10,782 Weighted average number of shares outstanding used to determine diluted earnings per share 64,197,686 61,027,795 64,313,526 61,644,827 Diluted earnings per share $ 0.37 $ 0.09 $ 0.94 $ 0.43 The weighted average number of securities that were anti-dilutive for diluted EPS for the periods presented but which could potentially dilute EPS in the future are as follows: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Restricted share awards — 428,949 396,937 2,284,562 Share options and BSPCE — 140,513 — 93,675 Weighted average number of anti-dilutive securities excluded from diluted earnings per share — 569,462 396,937 2,378,237

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Commitments Revolving Credit Facilities, Credit Line Facilities and Bank Overdrafts We are party to an RCF with a syndicate of banks which allows us to draw up to €350.0 million ($405.3 million). We are also party to short-term credit lines and overdraft facilities with HSBC plc, BNP Paribas and LCL with an authorization to draw up to a maximum of €21.5 million ($24.9 million) in the aggregate under the short-term credit lines and overdraft facilities. As of September 30, 2021, we had not drawn on any of these facilities. Any loans or overdrafts under these short-term facilities bear interest based on the one month EURIBOR rate or three month EURIBOR rate. As these facilities are exclusively short-term credit and overdraft facilities, our banks have the ability to terminate such facilities on short notice. Contingencies Changes in provisions during the presented periods are summarized below: Provision for employee-related litigation Other provisions Total (in thousands) Balance at January 1, 2021 $ 1,179 $ 1,071 $ 2,250 Increase 739 785 1,524 Provision used (388) — (388) Provision released not used* (398) — (398) Currency translation adjustments (69) (91) (160) Balance at September 30, 2021 $ 1,063 $ 1,765 $ 2,828 - of which current 1,063 1,765 2,828 * Due to changes in management's latest estimates The amount of the provisions represents management’s latest estimate of the expected impact. Regulatory matters As indicated in our Annual Report on Form 10-K for the year ended December 31, 2020, in November 2018, Privacy International filed a complaint with certain data protection authorities, including France's Commission Nationale de l'Informatique et des Libertés ("CNIL"), against Criteo and a number of other similarly situated advertising technology companies, arguing that certain of these companies' practices do not comply with the European Union's General Data Protection Regulation ("GDPR"). In January 2020, CNIL opened a formal investigation into Criteo in response to this complaint, which is still ongoing as per CNIL’s notification to Criteo dated June 23, 2021, which notified the Company of the appointment of an investigator (rapporteur). There can be no assurance that actions by the Company will not be required as a result of the investigation. However, at the current phase of the investigation, due to the absence of any specific grievance or sanction and the lack of any legal grounds therefor, we consider this to be an unasserted claim for which an unfavorable outcome is only reasonably possible, and the amount of the potential loss cannot be reasonably estimated in accordance with "ASC 450 Contingencies”, therefore, we have not accrued a loss contingency.

Breakdown of Revenue and Non-Cu

Breakdown of Revenue and Non-Current Assets by Geographical Areas	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Breakdown of Revenue and Non-Current Assets by Geographical Areas	Breakdown of Revenue and Non-Current Assets by Geographical Areas The Company operates in the following three geographical markets: • Americas (North and South America); • EMEA (Europe, Middle-East and Africa); and • Asia-Pacific. The following tables disclose our consolidated revenue for each geographical area for each of the reported periods. Revenue by geographical area is based on the location of advertisers’ campaigns. Americas EMEA Asia-Pacific Total For the three months ended: (in thousands) September 30, 2021 $ 204,428 $ 188,354 $ 115,798 $ 508,580 September 30, 2020 $ 204,618 $ 167,800 $ 97,927 $ 470,345 Revenue generated in France, the country of incorporation of the Parent, amounted to $33.5 million a n d $30.7 million for the three months ended September 30, 2021 and 2020, respectively. Americas EMEA Asia-Pacific Total For the nine months ended: (in thousands) September 30, 2021 $ 629,555 $ 609,753 $ 361,660 $ 1,600,968 September 30, 2020 $ 582,037 $ 517,535 $ 311,763 $ 1,411,335 Revenue generated in France amounte d to $110.3 million an d $90.0 million for the nine month ended September 30, 2021 and September 30, 2020, respectively. Revenue generated in other significant countries where we operate is presented in the followin g table: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (in thousands) Americas United States $ 179,302 $ 185,547 $ 559,965 $ 528,453 EMEA Germany $ 49,927 $ 39,246 $ 156,574 $ 129,485 United Kingdom $ 18,936 $ 21,597 $ 64,340 $ 63,274 Asia-Pacific Japan $ 72,437 $ 68,459 $ 231,440 $ 220,878 Other Information For each reported period, non-current assets (corresponding to the net book value of tangible and intangible assets, excluding right of use assets related to lease agreements) are presented in the table below. The geographical information includes results from the locations of legal entities. Of which Of which Holding Americas United States EMEA Asia-Pacific Japan Total (in thousands) September 30, 2021 $ 112,974 $ 78,950 $ 78,093 $ 14,071 $ 33,405 $ 13,060 $ 239,400 December 31, 2020 $ 135,516 $ 93,389 $ 93,030 $ 8,746 $ 31,598 $ 20,532 $ 269,249

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Related Parties There were no significant related-party transactions during the period nor any change in the nature of the transactions as describe d in Note 24 t o the consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company evaluated all subsequent events that occurred after September 30, 2021 through the date of issuance of the unaudited condensed consolidated financial statements and determined there are no significant events that require adjustments or disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements included herein (the "Unaudited Condensed Consolidated Financial Statements") have been prepared by Criteo pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021. The unaudited condensed consolidated financial statements included herein reflect all adjustments (consisting of normal, recurring adjustments) which are, in the opinion of management, necessary to state fairly the results for the interim periods presented. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for the fiscal year. Conformity with U.S. GAAP requires the use of estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses in the condensed consolidated financial statements and accompanying notes. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. Our actual results may differ from these estimates. U.S. GAAP requires us to make estimates and judgments in several areas, including, but not limited to: (1) revenue recognition criteria, (2) allowances for credit losses, (3) research tax credits, (4) income taxes, including (i) recognition of deferred tax assets arising from the subsidiaries projected taxable profit for future years, (ii) evaluation of uncertain tax positions associated with our transfer pricing policy and (iii) recognition of income tax position in respect with tax reforms recently enacted in countries we operate, (5) assumptions used in valuing acquired assets and assumed liabilities in business combinations, (6) assumptions used in the valuation of goodwill, intangible assets and right of use assets - operating lease, and (7) assumptions used in the valuation model to determine the fair value of share-based compensation plan. The severity, magnitude, duration and after-effects of the COVID-19 pandemic on general economic conditions increase uncertainty associated with these estimates, in particular those related to allowance for credit losses, assumptions used in the valuation of goodwill and estimates relating to income taxes.
Revenue Recognition	Revenue Recognition Principal vs Agent:
Accounting Pronouncements Adopted in 2021 and Recent Accounting Pronouncements	Accounting Pronouncements Adopted in 2021 Effective January 1, 2021, we have adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. The adoption of this new standard did not have a material impact on our consolidated financial statements. Effective January 1, 2021, we have adopted the FASB ASU No. 2018-14, C ompensation - Retirement Benefits - Defined Benefit Plans - General. The purpose of this update is to modify disclosure requirements for Defined Benefit Plans. It removes requirements to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year among others. It adds disclosure requirements for the items such as an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The adoption of this new standard did not have a material impact on our consolidated financial statements. Recent Accounting Pronouncements Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s Consolidated Financial Statements upon adoption.

Significant Events and Transa_2

Significant Events and Transactions of the Period (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following table presents the breakdown of restructuring liability as of September 30, 2021, presented as part of employees related payables on the balance sheet: (in thousands) Restructuring liability - January 1, 2021 $ 510 Restructuring costs 4,637 Amount paid (3,600) Restructuring liability - September 30, 2021 1,547

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedules of concentration of risk	The maximum exposure to credit risk at the end of each reported period is represented by the carrying amount of financial assets and summarized in the following table: September 30, 2021 December 31, 2020 (in thousands) Trade receivables, net of allowances 439,493 474,055 Other taxes 75,214 69,987 Other current assets 23,185 21,405 Non-current financial assets 7,371 18,109 Marketable securities 56,311 41,809 Total $ 601,574 $ 625,365
Schedule of financial liabilities	September 30, 2021 December 31, 2020 (in thousands) Trade payables $ 349,985 $ 367,025 Other taxes 53,249 58,491 Employee-related payables 72,679 85,272 Other current liabilities 38,818 33,390 Financial liabilities 856 3,275 Total $ 515,587 $ 547,453
Schedule of derivative financial instruments	September 30, 2021 December 31, 2020 (in thousands) Derivative Liabilities: Included in financial liabilities - current portion $ (155) $ 925
Schedule of assets and liabilities carried at fair value	The following table presents for each reporting period, the breakdown of cash and cash equivalents: September 30, 2021 December 31, 2020 (in thousands) Cash equivalents $ 116,834 $ 162,457 Cash on hand 380,624 325,554 Total cash and cash equivalents $ 497,458 $ 488,011 The following table presents for each reporting period, the breakdown of the fair value of marketable securities: September 30, 2021 December 31, 2020 (in thousands) Securities Available-for-sale Term Deposits $ 23,158 $ 24,538 Securities Held-to-maturity Term Deposits $ 33,153 $ 17,271 Total $ 56,311 $ 41,809
Debt securities, available-for-sale	The following table classifies our marketable securities by contractual maturities: Held-to-maturity Available-for-sale September 30, 2021 (in thousands) Due in one year $ 23,153 $ 23,158 Due in one to five years $ 10,000 $ — Total $ 33,153 $ 23,158

Trade Receivables (Tables)

Trade Receivables (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Schedules of trade receivables net book value and changes in allowance for doubtful accounts	The following table shows the breakdown in trade receivables net book value for the presented periods: September 30, 2021 December 31, 2020 (in thousands) Trade accounts receivables $ 484,223 $ 513,954 (Less) Allowance for credit losses (44,730) (39,899) Net book value at end of period $ 439,493 $ 474,055 Changes in allowance for credit accounts are summarized below: 2021 2020 (in thousands) Balance at January 1 $ (39,899) $ (16,068) Allowance for credit losses through retained earnings (*) — (3,503) Allowance for credit losses (9,765) (26,465) Reversal of provision 3,895 7,944 Currency translation adjustment 1,039 (185) Balance at September 30 $ (44,730) $ (38,277) (*) On January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost issued by the Financial Accounting Standards Board (FASB). ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss model which requires the use of forward-looking information to calculate credit loss estimates. This results in earlier recognition of credit losses. We adopted ASU 2016-13 effective January 1, 2020 with the cumulative effect of adoption recorded as an adjustment to retained earnings.

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other current assets net book value	The following table shows the breakdown in other current assets net book value for the presented periods: September 30, 2021 December 31, 2020 (in thousands) Prepayments to suppliers $ 8,151 $ 5,613 Other debtors 4,785 5,991 Prepaid expenses 10,249 9,801 Net book value at end of period $ 23,185 $ 21,405

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Other current liabilities	Other current liabilities are presented in the following table: September 30, 2021 December 31, 2020 (in thousands) Current liabilities to clients $ 15,144 $ 12,234 Rebates 16,080 14,433 Accounts payable relating to capital expenditures 4,056 4,721 Other creditors 3,158 1,918 Deferred revenue 380 84 Total $ 38,818 $ 33,390

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Components of leases expense	The components of lease expense are as follows: Three Months Ended September 30, 2021 September 30, 2020 Offices Data Centers Total Offices Data Centers Total (in thousands) Lease expense $ 2,383 $ 5,703 $ 8,086 $ 6,969 $ 7,199 $ 14,168 Short term lease expense 141 26 167 115 — 115 Variable lease expense 63 66 129 307 22 329 Sublease income (233) — (233) (338) — (338) Total operating lease expense $ 2,354 $ 5,795 $ 8,149 $ 7,053 $ 7,221 $ 14,274 Nine Months Ended September 30, 2021 September 30, 2020 Offices Data Centers Total Offices Data Centers Total (in thousands) Lease expense $ 15,800 $ 18,561 $ 34,361 $ 20,770 $ 20,519 $ 41,289 Short term lease expense 342 40 382 332 — 332 Variable lease expense 307 268 575 320 110 430 Sublease income (709) — (709) (514) — (514) Total operating lease expense $ 15,740 $ 18,869 $ 34,609 $ 20,908 $ 20,629 $ 41,537

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Schedule of Accumulated and Projected Benefit Obligations	The following table summarizes the changes in the projected benefit obligation: Projected benefit obligation (in thousands) Projected benefit obligation present value at January 1, 2020 $ 8,485 Service cost 2,232 Interest cost 95 Actuarial losses (gains) (5,214) Currency translation adjustment 569 Projected benefit obligation present value at December 31, 2020 $ 6,167 Service cost 1,005 Interest cost 38 Actuarial losses (gains) (683) Currency translation adjustment (360) Projected benefit obligation present value at September 30, 2021 $ 6,167
Schedule of Assumptions Used	The main assumptions used for the purposes of the actuarial valuations are listed below: Nine Months Ended Year ended September 30, 2021 December 31, 2020 Discount rate (Corp AA) 1.25% 0.85% Expected rate of salary increase 5% 5% Expected rate of social charges 49% - 50% 49% - 50% Expected staff turnover —% - 17.8% —% - 17.8% Estimated retirement age Progressive table Progressive table Life table TH-TF 2000-2002 shifted TH-TF 2000-2002 shifted
Defined Contribution Plan Disclosures	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (in thousands) Defined contributions plans included in personnel expenses $ (3,638) $ (3,637) $ (12,638) $ (11,508)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our disaggregated revenues: Marketing Solutions Retail Media Total For the three months ended (in thousands) September 30, 2021 $ 458,622 $ 49,958 $ 508,580 September 30, 2020 $ 412,126 $ 58,219 $ 470,345 Marketing Solutions Retail Media Total For the nine months ended (in thousands) September 30, 2021 $ 1,429,277 $ 171,691 $ 1,600,968 September 30, 2020 $ 1,263,169 $ 148,166 $ 1,411,335

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Disclosure of share-based compensation by share-based payment award	Change in number of outstanding BSPCE / OSA / RSU / BSA OSA/BSPCE RSU/PSU BSA Total Balance at January 1, 2021 2,102,158 4,954,091 343,775 7,400,024 Granted — 2,331,639 — 2,331,639 Exercised (OSA/BSPCE/BSA) (898,627) — — (898,627) Vested (RSU) — (1,118,523) — (1,118,523) Forfeited (389,149) (464,052) — (853,201) Expired — — — — Balance at September 30, 2021 814,382 5,703,155 343,775 6,861,312 Breakdown of the Closing Balance OSA/BSPCE RSU BSA Number outstanding 814,382 5,703,155 343,775 Weighted-average exercise price € 19.82 NA € 15.12 Number vested 458,600 — 343,775 Weighted-average exercise price € 24.38 NA € 15.12 Weighted-average remaining contractual life of options outstanding, in years 6.07 NA 6.04
Schedule of share-based compensation reconciliation with the Consolidated Statements of Income	Reconciliation with the Unaudited Consolidated Statements of Income Three Months Ended September 30, 2021 September 30, 2020 (in thousands) R&D S&O G&A Total R&D S&O G&A Total RSUs $ (4,858) $ (3,818) $ (3,931) $ (12,607) $ (3,333) $ (2,957) $ (595) $ (6,885) Share options / BSPCE — (58) (157) (215) — (233) 661 428 Total share-based compensation (4,858) (3,876) (4,088) (12,822) (3,333) (3,190) 66 (6,457) BSAs — — (467) (467) — — (346) (346) Total equity awards compensation expense $ (4,858) $ (3,876) $ (4,555) $ (13,289) $ (3,333) $ (3,190) $ (280) $ (6,803) Nine Months Ended September 30, 2021 September 30, 2020 (in thousands) R&D S&O G&A Total R&D S&O G&A Total RSUs $ (11,572) $ (9,026) $ (9,402) $ (30,000) $ (7,771) $ (8,092) $ (5,168) $ (21,031) Share options / BSPCE — (240) (568) (808) — (288) (73) (361) Total share-based compensation (11,572) (9,266) (9,970) (30,808) (7,771) (8,380) (5,241) (21,392) BSAs — — (1,366) (1,366) — — (1,073) (1,073) Total equity awards compensation expense $ (11,572) $ (9,266) $ (11,336) $ (32,174) $ (7,771) $ (8,380) $ (6,314) $ (22,465)

Financial Income and Expenses (

Financial Income and Expenses (Tables)	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
Schedule of financial income (expense)	The condensed consolidated statements of income line item “Financial income (expense)” can be broken down as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (in thousands) Financial income from cash equivalents $ 179 $ 108 $ 505 $ 551 Interest and fees (445) (677) (1,491) (1,920) Interest on debt (361) (437) (1,242) (1,455) Fees (84) (240) (249) (465) Foreign exchange gain (loss) 952 107 (367) (389) Other financial expense (840) (29) (38) (70) Total financial expense $ (154) $ (491) $ (1,391) $ (1,828)

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The condensed consolidated statements of income line item “Provision for income taxes” can be broken down as follows: Nine Months Ended September 30, 2021 September 30, 2020 (in thousands) Current income tax $ (17,465) $ (19,640) Net change in deferred taxes (4,568) 7,697 Provision for income taxes $ (22,033) $ (11,943)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of basic earnings per share	Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net income attributable to shareholders of Criteo S.A. $ 23,481 $ 5,227 $ 60,691 $ 26,402 Weighted average number of shares outstanding 60,873,594 60,080,598 60,759,613 61,059,345 Basic earnings per share $ 0.39 $ 0.09 $ 1.00 $ 0.43
Schedule of diluted earnings per share	Three Months Ended Nine Months Ended September 30, 2021 September 30, September 30, 2021 September 30, 2020 Net income attributable to shareholders of Criteo S.A. $ 23,481 $ 5,227 $ 60,691 $ 26,402 Weighted average number of shares outstanding of Criteo S.A. 60,873,594 60,080,598 60,759,613 61,059,345 Dilutive effect of : Restricted share awards ("RSUs") 2,865,581 811,136 3,074,241 440,835 Share options and BSPCE 334,028 128,291 375,211 133,865 Share warrants 124,483 7,770 104,461 10,782 Weighted average number of shares outstanding used to determine diluted earnings per share 64,197,686 61,027,795 64,313,526 61,644,827 Diluted earnings per share $ 0.37 $ 0.09 $ 0.94 $ 0.43
Schedule of weighted average number of anti-dilutive securities	The weighted average number of securities that were anti-dilutive for diluted EPS for the periods presented but which could potentially dilute EPS in the future are as follows: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Restricted share awards — 428,949 396,937 2,284,562 Share options and BSPCE — 140,513 — 93,675 Weighted average number of anti-dilutive securities excluded from diluted earnings per share — 569,462 396,937 2,378,237

Commitments and contingencies (

Commitments and contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Changes in provisions for contingencies	Changes in provisions during the presented periods are summarized below: Provision for employee-related litigation Other provisions Total (in thousands) Balance at January 1, 2021 $ 1,179 $ 1,071 $ 2,250 Increase 739 785 1,524 Provision used (388) — (388) Provision released not used* (398) — (398) Currency translation adjustments (69) (91) (160) Balance at September 30, 2021 $ 1,063 $ 1,765 $ 2,828 - of which current 1,063 1,765 2,828

Breakdown of Revenue and Non-_2

Breakdown of Revenue and Non-Current Assets by Geographical Areas (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of consolidated revenue for each geographical area	Revenue by geographical area is based on the location of advertisers’ campaigns. Americas EMEA Asia-Pacific Total For the three months ended: (in thousands) September 30, 2021 $ 204,428 $ 188,354 $ 115,798 $ 508,580 September 30, 2020 $ 204,618 $ 167,800 $ 97,927 $ 470,345 Americas EMEA Asia-Pacific Total For the nine months ended: (in thousands) September 30, 2021 $ 629,555 $ 609,753 $ 361,660 $ 1,600,968 September 30, 2020 $ 582,037 $ 517,535 $ 311,763 $ 1,411,335
Schedule of revenue generated in other significant countries	Revenue generated in other significant countries where we operate is presented in the following table: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (in thousands) Americas United States $ 179,302 $ 185,547 $ 559,965 $ 528,453 EMEA Germany $ 49,927 $ 39,246 $ 156,574 $ 129,485 United Kingdom $ 18,936 $ 21,597 $ 64,340 $ 63,274 Asia-Pacific Japan $ 72,437 $ 68,459 $ 231,440 $ 220,878
Schedule of non-current assets by geographical area and country	For each reported period, non-current assets (corresponding to the net book value of tangible and intangible assets, excluding right of use assets related to lease agreements) are presented in the table below. The geographical information includes results from the locations of legal entities. Of which Of which Holding Americas United States EMEA Asia-Pacific Japan Total (in thousands) September 30, 2021 $ 112,974 $ 78,950 $ 78,093 $ 14,071 $ 33,405 $ 13,060 $ 239,400 December 31, 2020 $ 135,516 $ 93,389 $ 93,030 $ 8,746 $ 31,598 $ 20,532 $ 269,249

Significant Events and Transa_3

Significant Events and Transactions of the Period - Restructuring (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 4,637
S&O
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,400
G&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,100
R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 100

Significant Events and Transa_4

Significant Events and Transactions of the Period - Summary of Restructuring Reserve (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	$ 510
Restructuring costs	4,637
Amount paid	(3,600)
Restructuring liability, ending balance	$ 1,547

Significant Events and Transa_5

Significant Events and Transactions of the Period - Acquisition of Doobe In Site Ltd. (Details) - USD ($) $ in Thousands	May 18, 2021	Sep. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Provisional goodwill		$ 330,561	$ 325,805
Doobe In Site Inc.
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 9,900
Business combination, technology	8,000
Business combination, employee related payable	5,100
Business combination, redemption fee payable	2,500
Provisional goodwill	8,500
Business combination, acquisition related costs	$ 500

Financial Instruments - Financi

Financial Instruments - Financial Assets and Credit Risk (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Maximum exposure	$ 601,574	$ 625,365
Trade receivables, net of allowances
Concentration Risk [Line Items]
Maximum exposure	439,493	474,055
Other taxes
Concentration Risk [Line Items]
Maximum exposure	75,214	69,987
Other current assets
Concentration Risk [Line Items]
Maximum exposure	23,185	21,405
Non-current financial assets
Concentration Risk [Line Items]
Maximum exposure	7,371	18,109
Marketable securities
Concentration Risk [Line Items]
Maximum exposure	$ 56,311	$ 41,809

Financial Instruments - Finan_2

Financial Instruments - Financial Liabilities (Details) - Fair value - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trade payables	$ 349,985	$ 367,025
Other taxes	53,249	58,491
Employee-related payables	72,679	85,272
Other current liabilities	38,818	33,390
Financial liabilities	856	3,275
Total	$ 515,587	$ 547,453

Financial Instruments - Derivat

Financial Instruments - Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Inputs, Level 2 | Fair value
Derivative Liabilities:
Included in financial liabilities - current portion	$ (155)	$ 925

Financial Instruments - Cash an

Financial Instruments - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Cash equivalents	$ 116,834	$ 162,457
Cash on hand	380,624	325,554
Total cash and cash equivalents	$ 497,458	$ 488,011

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities - non current portion	$ 10,000	$ 41,809
Fair value | Term Deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, noncurrent	23,158	24,538
Debt securities, held-to-maturity, noncurrent	33,153	17,271
Marketable securities - non current portion	$ 56,311	$ 41,809

Financial Instruments - Marketa

Financial Instruments - Marketable Securities Maturities (Details) - Term Deposits $ in Thousands	Sep. 30, 2021USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Due in one year	$ 23,153
Due in one to five years	10,000
Debt securities, held-to-maturity, fair value	33,153
Debt Securities, Available-for-sale [Line Items]
Due in one year	23,158
Due in one to five years	0
Debt securities, available-for-sale, fair value	$ 23,158

Trade Receivables - Breakdown i

Trade Receivables - Breakdown in Trade Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Trade accounts receivables	$ 484,223	$ 513,954
(Less) Allowance for credit losses	(44,730)	(39,899)	$ (38,277)	$ (16,068)
Net book value at end of period	$ 439,493	$ 474,055

Trade Receivables - Allowance f

Trade Receivables - Allowance for Doubtful Accounts Rollforward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, at beginning of the period	$ (39,899)	$ (16,068)
Allowance for credit losses	(9,765)	(26,465)
Reversal of provision	3,895	7,944
Currency translation adjustment	1,039	(185)
Balance, at end of the period	$ (44,730)	(38,277)
Cumulative effect, period of adoption, adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, at beginning of the period		$ (3,503)

Trade Receivables - Narrative (

Trade Receivables - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Receivables [Abstract]
Accounts receivable, previously written off, recovered	$ 2	$ 2.8

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments to suppliers	$ 8,151	$ 5,613
Other debtors	4,785	5,991
Prepaid expenses	10,249	9,801
Net book value at end of period	$ 23,185	$ 21,405

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Current liabilities to clients	$ 15,144	$ 12,234
Rebates	16,080	14,433
Accounts payable relating to capital expenditures	4,056	4,721
Other creditors	3,158	1,918
Deferred revenue	380	84
Total	$ 38,818	$ 33,390

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lessee, Lease, Description [Line Items]
Lease expense	$ 8,086	$ 14,168	$ 34,361	$ 41,289
Short term lease expense	167	115	382	332
Variable lease expense	129	329	575	430
Sublease income	(233)	(338)	(709)	(514)
Total operating lease expense	8,149	14,274	34,609	41,537
Offices
Lessee, Lease, Description [Line Items]
Lease expense	2,383	6,969	15,800	20,770
Short term lease expense	141	115	342	332
Variable lease expense	63	307	307	320
Sublease income	(233)	(338)	(709)	(514)
Total operating lease expense	2,354	7,053	15,740	20,908
Data Centers
Lessee, Lease, Description [Line Items]
Lease expense	5,703	7,199	18,561	20,519
Short term lease expense	26	0	40	0
Variable lease expense	66	22	268	110
Sublease income	0	0	0	0
Total operating lease expense	$ 5,795	$ 7,221	$ 18,869	$ 20,629

Employee Benefits - Changes in

Employee Benefits - Changes in the projected benefit obligation (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation present value at beginning of period	$ 6,167	$ 8,485
Service cost	1,005	2,232
Interest cost	38	95
Actuarial losses (gains)	(683)	(5,214)
Currency translation adjustment	(360)	569
Projected benefit obligation present value at ending of period	$ 6,167	$ 6,167

Employee Benefits - Schedule of

Employee Benefits - Schedule of Assumptions Used for Actuarial Valuations (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Discount rate (Corp AA)	1.25%	0.85%
Expected rate of salary increase	5.00%	5.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected rate of social charges	49.00%	49.00%
Expected staff turnover	0.00%	0.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected rate of social charges	50.00%	50.00%
Expected staff turnover	17.80%	17.80%

Employee Benefits - Schedule _2

Employee Benefits - Schedule of Defined Contribution Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Defined contributions plans included in personnel expenses	$ (3,638)	$ (3,637)	$ (12,638)	$ (11,508)

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 508,580	$ 470,345	$ 1,600,968	$ 1,411,335
Marketing Solutions
Disaggregation of Revenue [Line Items]
Revenue	458,622	412,126	1,429,277	1,263,169
Retail Media
Disaggregation of Revenue [Line Items]
Revenue	$ 49,958	$ 58,219	$ 171,691	$ 148,166

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - Plan 13	Jul. 29, 2021shares	Jun. 24, 2021shares	Jun. 14, 2021shares	Apr. 29, 2021shares	Feb. 25, 2021shares	Sep. 30, 2021grant
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of grants in period | grant						5
Number of RSUs granted (in shares)	75,080	56,500	858,511	758,979	96,450
RSU | Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs granted (in shares)					235,850
PSUs | Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs granted (in shares)			14,421		235,848

Share-Based Compensation - Chan

Share-Based Compensation - Change in Number of BSPCE/OSA/RSU/BSA (Details)	9 Months Ended
	Sep. 30, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments [Roll Forward]
Beginning balance (in shares)	7,400,024
Granted (in shares)	2,331,639
Exercised (in shares)	(898,627)
Vested (in shares)	(1,118,523)
Forfeited (in shares)	(853,201)
Expired (in shares)	0
Ending balance (in shares)	6,861,312
OSA/BSPCE
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, options (in shares)	2,102,158
Granted, options (in shares)	0
Exercised, options (in shares)	(898,627)
Vested, options (in shares)	0
Forfeited, options (in shares)	(389,149)
Expired, options (in shares)	0
Ending balance, options (in shares)	814,382
RSU/PSU
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	4,954,091
Granted (in shares)	2,331,639
Exercised (in shares)	0
Vested (in shares)	(1,118,523)
Forfeited (in shares)	(464,052)
Expired (in shares)	0
Ending balance (in shares)	5,703,155
BSA
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, options (in shares)	343,775
Granted, options (in shares)	0
Exercised, options (in shares)	0
Vested, options (in shares)	0
Forfeited, options (in shares)	0
Expired, options (in shares)	0
Ending balance, options (in shares)	343,775

Share-Based Compensation - Brea

Share-Based Compensation - Breakdown of the Closing Balance (Details) - € / shares	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
OSA/BSPCE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number outstanding, options (in shares)	814,382	2,102,158
Weighted-average exercise price, options (in euro per share)	€ 19.82
Number vested, options (in shares)	458,600
Weighted-average exercise price, options (in euro per share)	€ 24.38
Weighted-average remaining contractual life of options outstanding, in years	6 years 25 days
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number outstanding (in shares)	5,703,155
Number vested, options (in shares)	0
BSA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number outstanding, options (in shares)	343,775	343,775
Weighted-average exercise price, options (in euro per share)	€ 15.12
Number vested, options (in shares)	343,775
Weighted-average exercise price, options (in euro per share)	€ 15.12
Weighted-average remaining contractual life of options outstanding, in years	6 years 14 days

Share-Based Compensation - Shar

Share-Based Compensation - Share-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ (12,822)	$ (6,457)	$ (30,808)	$ (21,392)
Total equity awards compensation expense	(13,289)	(6,803)	(32,174)	(22,465)
R&D
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(4,858)	(3,333)	(11,572)	(7,771)
Total equity awards compensation expense	(4,858)	(3,333)	(11,572)	(7,771)
S&O
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(3,876)	(3,190)	(9,266)	(8,380)
Total equity awards compensation expense	(3,876)	(3,190)	(9,266)	(8,380)
G&A
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(4,088)	66	(9,970)	(5,241)
Total equity awards compensation expense	(4,555)	(280)	(11,336)	(6,314)
RSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(12,607)	(6,885)	(30,000)	(21,031)
RSU | R&D
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(4,858)	(3,333)	(11,572)	(7,771)
RSU | S&O
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(3,818)	(2,957)	(9,026)	(8,092)
RSU | G&A
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(3,931)	(595)	(9,402)	(5,168)
OSA/BSPCE
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(215)	428	(808)	(361)
OSA/BSPCE | R&D
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	0	0	0	0
OSA/BSPCE | S&O
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(58)	(233)	(240)	(288)
OSA/BSPCE | G&A
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	(157)	661	(568)	(73)
BSA
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
BSAs	(467)	(346)	(1,366)	(1,073)
BSA | R&D
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
BSAs	0	0	0	0
BSA | S&O
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
BSAs	0	0	0	0
BSA | G&A
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
BSAs	$ (467)	$ (346)	$ (1,366)	$ (1,073)

Financial Income and Expenses -

Financial Income and Expenses - Financial income (expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
Financial income from cash equivalents	$ 179	$ 108	$ 505	$ 551
Interest and fees	(445)	(677)	(1,491)	(1,920)
Interest on debt	(361)	(437)	(1,242)	(1,455)
Fees	(84)	(240)	(249)	(465)
Foreign exchange gain (loss)	952	107	(367)	(389)
Other financial expense	(840)	(29)	(38)	(70)
Total financial expense	$ (154)	$ (491)	$ (1,391)	$ (1,828)

Financial Income and Expenses_2

Financial Income and Expenses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
Financial expense	$ 154	$ 491	$ 1,391	$ 1,828

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Current income tax			$ (17,465)	$ (19,640)
Net change in deferred taxes			(4,568)	7,697
Provision for income taxes	$ (7,801)	$ (2,267)	$ (22,033)	$ (11,943)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Estimated tax rate	26.00%	30.00%

Earnings Per Share - Basic (Det

Earnings Per Share - Basic (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income attributable to shareholders of Criteo S.A.	$ 23,481	$ 5,227	$ 60,691	$ 26,402
Weighted average number of shares outstanding (in shares)	60,873,594	60,080,598	60,759,613	61,059,345
Basic earnings per share (in USD per share)	$ 0.39	$ 0.09	$ 1	$ 0.43

Earnings Per Share - Diluted (D

Earnings Per Share - Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income attributable to shareholders of Criteo S.A.	$ 23,481	$ 5,227	$ 60,691	$ 26,402
Weighted average number of shares outstanding (in shares)	60,873,594	60,080,598	60,759,613	61,059,345
Dilutive effect of :
Restricted share awards (RSU's) (in shares)	2,865,581	811,136	3,074,241	440,835
Share options and BSPCE (in shares)	334,028	128,291	375,211	133,865
Share warrants (in shares)	124,483	7,770	104,461	10,782
Weighted average number of shares outstanding used to determine diluted earnings per share (in shares)	64,197,686	61,027,795	64,313,526	61,644,827
Diluted earnings per share (in USD per share)	$ 0.37	$ 0.09	$ 0.94	$ 0.43

Earnings Per Share - Anti-Dilut

Earnings Per Share - Anti-Dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of anti-dilutive securities excluded from diluted earnings per share (in shares)	0	569,462	396,937	2,378,237
Restricted share awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of anti-dilutive securities excluded from diluted earnings per share (in shares)	0	428,949	396,937	2,284,562
Share options and BSPCE
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of anti-dilutive securities excluded from diluted earnings per share (in shares)	0	140,513	0	93,675

Commitments and contingencies -

Commitments and contingencies - Commitments (Details) - Sep. 30, 2021 - Revolving credit facility - Line of credit € in Millions, $ in Millions	EUR (€)	USD ($)
Bank syndicate RCF
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	€ 350	$ 405.3
HSBC and LCL facilities
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	€ 21.5	$ 24.9

Commitments and contingencies_2

Commitments and contingencies - Contingencies (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Loss Contingency Accrual [Roll Forward]
Contingencies accrual, beginning balance	$ 2,250
Increase	1,524
Provision used	(388)
Provision released not used	(398)
Currency translation adjustments	(160)
Contingencies accrual, ending balance	2,828
Contingencies accrual, of which current	2,828
Provision for employee-related litigation
Loss Contingency Accrual [Roll Forward]
Contingencies accrual, beginning balance	1,179
Increase	739
Provision used	(388)
Provision released not used	(398)
Currency translation adjustments	(69)
Contingencies accrual, ending balance	1,063
Contingencies accrual, of which current	1,063
Other provisions
Loss Contingency Accrual [Roll Forward]
Contingencies accrual, beginning balance	1,071
Increase	785
Provision used	0
Provision released not used	0
Currency translation adjustments	(91)
Contingencies accrual, ending balance	1,765
Contingencies accrual, of which current	$ 1,765

Breakdown of Revenue and Non-_3

Breakdown of Revenue and Non-Current Assets by Geographical Areas - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)market	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)market	Sep. 30, 2020USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of geographical markets | market	3		3
Revenue	$ 508,580	$ 470,345	$ 1,600,968	$ 1,411,335
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 33,500	$ 30,700	$ 110,300	$ 90,000

Breakdown of Revenue and Non-_4

Breakdown of Revenue and Non-Current Assets by Geographical Areas - Revenue by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 508,580	$ 470,345	$ 1,600,968	$ 1,411,335
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	204,428	204,618	629,555	582,037
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	188,354	167,800	609,753	517,535
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 115,798	$ 97,927	$ 361,660	$ 311,763

Breakdown of Revenue and Non-_5

Breakdown of Revenue and Non-Current Assets by Geographical Areas - Revenue by Significant Other Countries (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 508,580	$ 470,345	$ 1,600,968	$ 1,411,335
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	179,302	185,547	559,965	528,453
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	49,927	39,246	156,574	129,485
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	18,936	21,597	64,340	63,274
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 72,437	$ 68,459	$ 231,440	$ 220,878

Breakdown of Revenue and Non-_6

Breakdown of Revenue and Non-Current Assets by Geographical Areas - Other Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	$ 239,400	$ 269,249
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	78,950	93,389
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	78,093	93,030
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	14,071	8,746
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	33,405	31,598
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	13,060	20,532
Holding
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	$ 112,974	$ 135,516