Filing Flows › Criteo S.A. (CRTO) › Q2 2026 › vs Q2 2025
Criteo S.A. (CRTO) Q2 2026 vs Q2 2025 (year over year)
Criteo S.A.'s revenue fell $54.7M (-11%) from $483M in Q2 2025 to $428M in Q2 2026. The biggest changes: Performance Media −$41.6M (-10%); Retail Media −$13.0M (-21%). Gross margin 51.9% against 53.6% (-1.6 pts).
Criteo S.A., Q2 2026: revenue $428M (-11% year over year), operating margin 3.5%, net earnings $11.2M, operating cash flow $20.3M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 51.9% | 53.6% | -1.6 pts |
| Operating margin | 3.5% | 6.3% | -2.8 pts |
| Net margin | 2.6% | 4.4% | -1.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Performance Media | $380M | $422M | −$41.6M | -10% |
| Retail Media | $47.9M | $60.9M | −$13.0M | -21% |
| Revenue | $428M | $483M | −$54.7M | -11% |
| Gross profit | $222M | $259M | −$36.3M | -14% |
| Cost of revenue | $206M | $224M | −$18.3M | -8% |
| Operating profit | $15.0M | $30.5M | −$15.4M | -51% |
| Operating expenses | $207M | $228M | −$20.9M | -9% |
| Pre-tax earnings | $15.3M | $28.7M | −$13.3M | -47% |
| Research & development | $71.9M | $79.6M | −$7.7M | -10% |
| Sales & marketing | $85.5M | $108M | −$22.7M | -21% |
| General & admin | $49.7M | $40.2M | $9.5M | +24% |
| Net earnings | $11.2M | $21.2M | −$10.1M | -47% |
| Minority interests | $561K | $1.7M | −$1.1M | -66% |
| Income tax | $3.6M | $5.7M | −$2.2M | -38% |
| Share-based compensation | $16.4M | $21.1M | −$4.7M | -22% |
| Working capital & other | $7.3M | $43.8M | −$36.5M | -83% |
| Operating cash flow | $20.3M | −$1.4M | $21.7M | — |
| Capital expenditures | $58.2M | $35.3M | $23.0M | +65% |
| Negative free cash flow (OCF − capex) | $37.9M | $36.6M | $1.3M | +4% |
Questions
How much did Criteo S.A.'s revenue grow year over year in Q2 2026?
Criteo S.A.'s revenue fell $54.7M (-11%) from $483M in Q2 2025 to $428M in Q2 2026.
What drove Criteo S.A.'s revenue change in Q2 2026?
Performance Media −$41.6M (-10%); Retail Media −$13.0M (-21%).