Non-GAAP EPS of $0.49 was in line with the consensus estimate.

Contribution ex-TAC margin was 51%, up 800 basis points year-over-year, driven mainly by Retail Media and the acceleration of client transition to the company's platform.

The company exited the quarter with cash and equivalents worth $223.18 million.

"Our transformation to a Commerce Media powerhouse continues to progress with the successful launch of our Commerce Grid SSP," said Megan Clarken, Chief Executive Officer of Criteo. "We have built a highly scalable Commerce Media platform to drive long-term sustainable growth and shareholder value."

Q3 2023 Outlook: Criteo sees contributions ex-TAC of $238 million - $242 million and adjusted EBITDA of $58 million - $62 million.

Price Action: CRTO shares are trading lower by 2.73% at $32.43 on the last check Wednesday.