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Breakdown of Revenue and Non-Current Assets by Geographical Areas | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Breakdown of Revenue and Non-Current Assets by Geographical Areas | Segment information Reportable segments Criteo is a global technology company driving superior commerce outcomes for marketers and media owners through the world’s leading Commerce Media Platform. The Company reports segment information based on the "management" approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company's reportable segments. The Company reports its results of operations through the following three segments: Marketing Solutions, Retail Media and Iponweb. –Marketing Solutions: This segment allows commerce companies to address multiple marketing goals by engaging their consumers with personalized ads across the web, mobile and offline store environments. –Retail Media: This segment allows retailers to generate advertising revenues from consumer brands, and/or to drive sales for themselves, by monetizing their data and audiences through personalized ads, either on their own digital property or on the open Internet, that address multiple marketing goals. –Iponweb: This segment specializes in building real-time advertising technology and trading infrastructure, delivering advanced media buying, selling, and packaging capabilities for media owners, agencies, performance advertisers, and 3rd-party ad tech platforms. Segment operating results, Contribution ex-TAC, is Criteo's segment profitability measure and reflects our gross profit plus other costs of revenue. The Company's chief operating decision maker, or CODM, does not review any other financial information for our three segments, other than Contribution ex-TAC, at the reportable segment level. The following table shows revenue by reportable segment:
| Three Months Ended |  | Nine Months Ended
| September 30, 2023 | September 30, 2022 |  | September 30, 2023 | September 30, 2022
| (in thousands)
Marketing Solutions | $ | 385,762 |  | 387,288 |  |  | $ | 1,162,943 |  | 1,291,599 |
Retail Media | 49,813 |  | 41,170 |  |  | 132,424 |  | 142,516 |
Iponweb | 33,618 |  | 18,463 |  |  | 87,776 |  | 18,463 |
Total Revenue | $ | 469,193 |  | $ | 446,921 |  |  | $ | 1,383,143 |  | $ | 1,452,578 |
The following table shows Contribution ex-TAC by reportable segment and its reconciliation to the Company’s Consolidated Statements of Operation:
| Three Months Ended |  | Nine Months Ended
| September 30, 2023 | September 30, 2022 |  | September 30, 2023 | September 30, 2022
| (in thousands)
Contribution ex-TAC |  |  |  |  |
Marketing Solutions | $ | 163,341 |  | $ | 158,022 |  |  | $ | 489,148 |  | $ | 522,079 |
Retail Media | 48,436 |  | 36,893 |  |  | 129,306 |  | 104,278 |
Iponweb | 33,618 |  | 18,463 |  |  | 87,776 |  | 18,463 |
| $ | 245,395 |  | $ | 213,378 |  |  | $ | 706,230 |  | $ | 644,820 |
Other costs of sales | (40,268) |  | (33,771) |  |  | (119,812) |  | (96,214) |
Gross profit | $ | 205,127 |  | $ | 179,607 |  |  | $ | 586,418 |  | $ | 548,606 |
Operating expenses |  |  |  |  |
Research and development expenses | (62,522) |  | (42,725) |  |  | (193,887) |  | (118,248) |
Sales and operations expenses | (94,572) |  | (90,051) |  |  | (308,325) |  | (278,363) |
General and administrative expenses | (36,599) |  | (42,353) |  |  | (95,306) |  | (176,361) |
Total Operating expenses | (193,693) |  | (175,129) |  |  | (597,518) |  | (572,972) |
Income (loss) from operations | $ | 11,434 |  | $ | 4,478 |  |  | $ | (11,100) |  | $ | (24,366) |
Financial and Other Income (Expense) | (2,967) |  | 3,485 |  |  | 2,008 |  | 23,927 |
Income (loss) before tax | $ | 8,467 |  | $ | 7,963 |  |  | $ | (9,092) |  | $ | (439) |
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 or of the retailers.
For the Three Months Ended | Americas |  | EMEA |  | Asia-Pacific |  | Total
| (in thousands)
September 30, 2023 | $ | 213,607 |  |  | $ | 164,890 |  |  | $ | 90,696 |  |  | $ | 469,193 |
September 30, 2022 | $ | 201,274 |  |  | $ | 150,915 |  |  | $ | 94,732 |  |  | $ | 446,921 |
For the Nine Months Ended | Americas |  | EMEA |  | Asia-Pacific |  | Total
| (in thousands)
September 30, 2023 | $ | 606,650 |  |  | $ | 483,319 |  |  | $ | 293,174 |  |  | $ | 1,383,143 |
September 30, 2022 | $ | 609,461 |  |  | $ | 521,736 |  |  | $ | 321,381 |  |  | $ | 1,452,578 |
Revenue generated in other significant countries where we operate is presented in the followin g table:
| Three Months Ended |  | Nine Months Ended
| September 30, 2023 | September 30, 2022 |  | September 30, 2023 | September 30, 2022
| (in thousands)
Americas |  |  |  |  |
United States | $ | 193,210 |  | $ | 180,152 |  |  | $ | 547,348 |  | $ | 542,034 |
EMEA |  |  |  |  |
Germany | $ | 56,569 |  | $ | 40,808 |  |  | $ | 145,541 |  | $ | 144,902 |
France | $ | 23,423 |  | $ | 23,212 |  |  | $ | 71,130 |  | $ | 83,393 |
Asia-Pacific |  |  |  |  |
Japan | $ | 49,213 |  | $ | 56,999 |  |  | $ | 162,767 |  | $ | 196,818 |
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.
| Americas |  | EMEA |  | Asia-Pacific |  | Total
| (in thousands)
September 30, 2023 | $ | 95,602 |  |  | $ | 196,649 |  |  | $ | 16,019 |  |  | $ | 308,270 |
December 31, 2022 | $ | 92,952 |  |  | $ | 193,007 |  |  | $ | 21,231 |  |  | $ | 307,190 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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