Criteo S.A. Citi’s 2026 Global TMT Conference

Started here? Yeah, let's do it.

All right, great. Thank you, everybody. Let's get started. My name's Ron Josey. I lead coverage of the internet sector here at Citi, and very happy to have with us today Michael Komasinski. I butchered your last name.

No, pretty close. No, was that good?

Okay, Michael Komasinski. Yeah, I was going to say new CEO, but not new CEO. We are 18 months in.

18 months in. Criteo, I think we all know what Criteo does, but bottom line is, has one of the largest identity graphs out there, I believe.

Yes. And leverages this data set and shopper graphs to basically help to drive greater sales for retailers and advertisers.

Yep full stop. With that, I'll let you do a better job of explaining this directly, but Michael, I just want to say thank you for joining us, and why don't we kick off specifically, just talk to us.

You're 18 months in the CEO role. A lot's changing in the industry, a lot's changing at Criteo. So maybe quickly tell us about Criteo, the business. Most people know already, but then, where are you focused here as we move forward in this new world of agentic commerce?

Sure. I'd start at the highest level. Criteo is a commerce intelligence platform, right? We pick those two words very purposefully. We believe that commerce really is the organizing construct for advertising and marketing in a world where everything is shoppable and biddable. Then the intelligence part comes in, how do you allocate media investment optimally across what is an increasingly fragmented ecosystem of places where people spend time, where they shop, where they make decisions? So really the future is about how do you drive commerce outcomes in a more complicated ecosystem in a very sort of AI-driven, highly automated way? So that's kind of the set of the North Stars or the things that we believe in, I think at the highest level.

How the company actually accomplishes that, I'll try not to get too complicated with it, but we have several different data sets that we use to drive that decision-making of where to place optimal client investment. You mentioned one of them, the identity graph. It is the third-largest identity graph in the world. We have the third-largest product catalog in the world. We are incredibly good at ingesting 25 billion raw SKUs, some updated as frequently as hourly, and then processing that in- and normalizing that data set into a SKU catalog of about 5 billion SKUs globally.

Michael, sorry, the third largest product catalog in the world.

Yes. And you mentioned 25 billion, or?

25 billion is the raw SKU count that we ingest on a regular basis, yeah. What you need to do is you need to be able to normalize that down to something that's usable so that this vacuum cleaner that's got just a slightly different aspect is the same thing as that vacuum cleaner.

Yeah And you normalize those two things together, basically.