Edward, you, good and Thank morning, everyone.
we strengths headwinds the have highlight we been As of a combination think QX Despite the solid and resilience seen, closed results you of have profitability our with facing, have generation. modest growth, cash increasing and these model. we
would discuss and topics: I to First, call, ITP this important I would during to like X cover So GDPR. like
days, some first share to my would CEO. as XX Second, I back on like learnings
XXXX, And Criteo's I explain to some would fourth, to related on our plan our would and I highlights revised like share guidance strategy. for Third, reaccelerate.
this year. with investors is on over have full past this So The clarity first it I'm significantly affected business first, ITP. that the matter. it's topic our important And has let's starting reason discuss thing our
that launched Apple browsing to included value-added on in ITP Safari, longer web consented As when have Safari referred September as their you those iOS were were XXXX, in advertisings when feature was ads. release see able XX. probably to users they the recall, we impact no This users The to even deliver browser.
believed, decide this the with a to part whether we of want could mitigate advertising that issue back put we a initially, they would So in or workaround address the to control simple see and user not. value-added large
As you know, this wrong. we got
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we we originally our time a over to that had we the absorb aware a investors. revenue As related keenly realized, anticipated. adjustment I’m for was impact frustrating relatively result, had much of frame short that bigger forecast financial
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make a have the had workaround. XX.X accelerated If to third, would we we to released. our Apple have was iOS a IDs. user Second, strategy, on to Instead as users, part anticipated to app we mid-December relying technologies, of one And we multi-browser cookies standard of not sooner who when rely decisions just the expressed login we have should would any and on market on cookies. react update should have hashed data, graph manufacturer. consent, of quickly dependent order now business deliver better how In our had, roadmap ITP less advertising value-added variety browser of including to e-mails,
increasingly will for settings. type now feel face into Although the browser platform changes competitive various I our reason, similar details not on has of our go technologies. in We to become resilient
most the Moving Europe's revenue are users said, what approach, Whereas, with is have Authority, abuse. implementation any position GDPR. our obtain Protection for informed as consent approach we not give affect prudent to short stance while used, be in XXXX, agencies. further the on small their received clients private This we are website as term. publishers user a considered very taken, they to but our This comfort friction potential consent by could French we of is excessively businesses offering against Today, the rests in when we to reason ensures on. consents, consent prior us, data on partners. if are the on the This with for negatively our the how properly an browsing of doctrine XX, those things effectively as publisher unfolding choice had long and Data headwinds. responsibility one May long-standing and aligned Since Overall, to collecting for user influential expected. that the the fraction guidance, the rigid an you they with the protection on clear took our why short-term is that remember limited given a solid will
impact So of expected. far, limited we actual what quite than this and been lower has business on our the
remain on of overall remain firmly the and impact summarize are our remainder existential will the threats. that optimistic our we business limited that to our believe To year, ITP the we expectations. GDPR, within cautiously For and not these position
a executing I have those As it. are to plan explained, we to and address challenges on
these CEO. days back have XX strategy learnings going my the Criteo in have forward. on learnt on the view been is of turning to I as now Okay, impact the what I And
have during significant many heard I with time past Criteo. So comments interactions, the on publisher those positive clients quarter, and I partners. spent our From
Our clients confirm our client you strong matter from figures. our of as a real value retention in they that can solutions, see fact, get which
As our In also to real a was solid market a point had important it noted have starting conversations confirm our position. I for I those me, with clients, change.
large years, its with Let explain. two of leveraging the me brands. stream to past increasingly revenue new In successful Amazon to and watched clients be our create data audience have
monetize clients said, that the now most and clear way requires in-house. a technology to competing sophisticated in can suspected this Our goal. challenge had sights, tremendous always new they for retailers in their path this data effectively plain This retail is very is difficult With see a tangible have develop to success that Amazon that value. game to
result, our complex see and a build technology. with As engaging us, clients as we to how look they this for
has have their now the with Given natural share By extreme concern convert compete Facebook. shared are enabled to play. over platform of massive to years, and a the for we data customers, enable have highly our as expressed fair the their to we them. them effective clients on for budgets. demonstrated Criteo their surprise. retailer partner and solutions get new our this media are Furthermore, brand performance, Amazon. providing seen monetize retailers most against inventory, consistently partners me better social acquire, have engage search a a about By to providing dependency of No channels growing and But with Google can us that them we to
of it's control for their direct So insisted the for them to with clients all keep that the other key media end users. buying, our relationship
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double-digit in growth working coming years. returning the We hard to are towards
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growth this significant result, disappointing minus X% guidance understand investors X% are XXXX currency. be a for that revenue plus short-term ex-TAC and acceleration and the we at for between adjusting shareholders. constant As our I can in
will future the are believe this that ensure we operational for business level is are with I the we making right healthy In achieved However, pave changes the discipline. case, growth. cost that of necessary right any to transformation way
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clients, itself reshuffle that complementary hiring Our include granular currently serve have. better sets a segmentation bringing to more requires different segment also with This transformation require one to our the clients. on a multiproduct allocation of involves we each that of plan our new will skill resource which solutions people
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clients, growth. large selling restraining people, is having sales our of the platform, For not our strategic right enough capable of
sure seats is achieving our mid-markets, enough have to making we goals. people critical also For incisive in
made ability expect will people, a onboard we staffing that of again, recently matter achieve those our we As goals. leadership sales a accelerate group, efficiently fact, have our on change to so
begin will next made bear have we realignments fruits team sales earlier to the that expect we Additionally, year.
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Criteo its types a although our new has cost-per-click products Criteo, on no to is have on we forcing exclusively to our of receive of basis, And sacred nothing cow instance, or sold other basis. all clients sold fees. some is For to on at historically products us begun have exclusively of cost-per-click product variable price there a requests cost-per-impression a
to our options have for our driver should is be to our want offer of the near-term to into clients beginning clients next This we the and adjusting our we our in second behind feedback included solution, year. a pricing delay how our products more our of outlook. much this able new consume roadmap, flexible lowering So to by
in quarters. will not with strategy achieve I it will to approximately we transformation be And confident, us our progress will over time. months. as will, And of share coming anticipate company-wide you more it I'm Our we XX goals set last up course, overnight. to completed X well details the
of the Speaking of which, I future would words on few say Criteo. like a now to
like. consumers advertisers, platform advertising the Through for is open publishers vision the or of we'll Internet. vision, create value to this and be for Our choice
For advertising funnel, their transparency, with combined monetization full that means self-service across advertisers, as a and driving capabilities performance platform. enhanced
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advertising the the expect Intelligence core multiyear next-GEN future you to Criteo not On Artificial plan yield learning we the have recently Lab performance organic results, our of million define immediate become in it the EUR years. investment will front, as coming This however, announced may in we ambitious, technologies heard, will Paris, deep in of component in future. a XX the a
just accelerate by in cost-per-impression the to websites retailers France, the signed Internet. acquisition our monetizing company to based e-commerce monetization On all new rollout Storetail further acquisition into front, budgets today, small-sized native it XX-people on trade tap of their we brands across this very enable expand significant on placements platform. from a will a called and media the marketing basis, This
While having would closing, expand our no for the significantly material at solution monetization. opportunity revenue Storetail addition very contribution data of
existing times bring with, our than of retailers France, sponsored audience matter also from market large selling retailers the complementary a feedbacks to a of cost-per-click meaningful we cost-per-impression brands is bigger hearing the several As verticals. food for very we to us sector large market on Storetail existing discussed the are the fact, in for that based product. on basis footprint
in deal quarter this We expect the to third the of close year.
with overall, believe, multiproduct years. forward, grow non-retargeting our revenue over Looking the our current of XX% business X% platform, to X we ex-TAC from can we
are With taking to revenues are that, discuss into let as details are results coming to paving ensure my call turn that the details, QX want to I we in making Benoit go happily the more will the that years. now now way I guidance reiterate our priorities is reaccelerate the Benoit. we to steps Before top of CEO, a I in adjustments and and the the
