2021 Q1 Form 10-Q Financial Statement

#000157642721000042 Filed on May 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $541.1M $503.4M
YoY Change 7.49% -9.81%
Cost Of Revenue $327.7M $297.4M
YoY Change 10.19% -7.77%
Gross Profit $178.7M $172.2M
YoY Change 3.77% -17.86%
Gross Profit Margin 33.03% 34.21%
Selling, General & Admin $112.8M $110.9M
YoY Change 1.71% -14.49%
% of Gross Profit 63.11% 64.39%
Research & Development $31.70M $37.52M
YoY Change -15.51% -19.46%
% of Gross Profit 17.74% 21.78%
Depreciation & Amortization $17.23M $27.04M
YoY Change -36.31% 37.67%
% of Gross Profit 9.64% 15.7%
Operating Expenses $144.5M $148.4M
YoY Change -2.64% -15.8%
Operating Profit $34.22M $23.80M
YoY Change 43.77% -28.72%
Interest Expense $540.0K $432.0K
YoY Change 25.0% -17.4%
% of Operating Profit 1.58% 1.81%
Other Income/Expense, Net -$700.0K -$334.0K
YoY Change 109.58% -83.3%
Pretax Income $33.50M $23.47M
YoY Change 42.75% -25.31%
Income Tax $10.05M $7.040M
% Of Pretax Income 30.0% 30.0%
Net Earnings $22.41M $15.46M
YoY Change 44.94% -19.15%
Net Earnings / Revenue 4.14% 3.07%
Basic Earnings Per Share $0.37 $0.25
Diluted Earnings Per Share $0.35 $0.25
COMMON SHARES
Basic Shares Outstanding 60.74M shares 61.69M shares
Diluted Shares Outstanding 64.08M shares 62.13M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $537.6M $436.5M
YoY Change 23.17% 10.29%
Cash & Equivalents $520.1M $436.5M
Short-Term Investments $17.59M
Other Short-Term Assets $22.49M $19.83M
YoY Change 13.42% -19.83%
Inventory
Prepaid Expenses $14.41M $11.24M
Receivables $416.9M $364.4M
Other Receivables $86.17M $92.22M
Total Short-Term Assets $1.059B $909.2M
YoY Change 16.53% 4.23%
LONG-TERM ASSETS
Property, Plant & Equipment $168.0M $181.8M
YoY Change -7.6% 0.82%
Goodwill $322.8M $315.3M
YoY Change 2.4% -0.57%
Intangibles $79.44M $79.82M
YoY Change -0.47% -25.56%
Long-Term Investments $43.07M $20.37M
YoY Change 111.4% 0.21%
Other Assets $13.51M $29.46M
YoY Change -54.13% -39.05%
Total Long-Term Assets $723.1M $766.7M
YoY Change -5.68% -12.24%
TOTAL ASSETS
Total Short-Term Assets $1.059B $909.2M
Total Long-Term Assets $723.1M $766.7M
Total Assets $1.783B $1.676B
YoY Change 6.37% -4.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $349.6M $304.1M
YoY Change 14.94% -14.58%
Accrued Expenses $116.0M $120.5M
YoY Change -3.81% 6.75%
Deferred Revenue $988.0K $186.0K
YoY Change 431.18% -73.91%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.114M $2.303M
YoY Change -8.21% 44.03%
Total Short-Term Liabilities $557.1M $517.1M
YoY Change 7.75% -8.47%
LONG-TERM LIABILITIES
Long-Term Debt $371.0K $555.0K
YoY Change -33.15% -75.69%
Other Long-Term Liabilities $9.807M $2.715M
YoY Change 261.22% -42.31%
Total Long-Term Liabilities $81.74M $132.2M
YoY Change -38.18% -30.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $557.1M $517.1M
Total Long-Term Liabilities $81.74M $132.2M
Total Liabilities $638.9M $649.3M
YoY Change -1.6% -13.9%
SHAREHOLDERS EQUITY
Retained Earnings $510.5M $450.5M
YoY Change 13.33% 11.73%
Common Stock $704.2M $678.7M
YoY Change 3.76% 5.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $87.26M $79.83M
YoY Change 9.31% 104.29%
Treasury Stock Shares 5.598M shares 4.500M shares
Shareholders Equity $1.110B $995.0M
YoY Change
Total Liabilities & Shareholders Equity $1.783B $1.676B
YoY Change 6.37% -4.01%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $22.41M $15.46M
YoY Change 44.94% -19.15%
Depreciation, Depletion And Amortization $17.23M $27.04M
YoY Change -36.31% 37.67%
Cash From Operating Activities $77.36M $56.74M
YoY Change 36.34% -15.59%
INVESTING ACTIVITIES
Capital Expenditures -$13.78M -$11.74M
YoY Change 17.41% -50.44%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$3.252M $889.0K
YoY Change -465.8% 2863.33%
Cash From Investing Activities -$17.03M -$10.85M
YoY Change 57.01% -62.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.856M $18.24M
YoY Change -84.34% -165890.91%
Debt Paid & Issued, Net $182.0K
YoY Change
Cash From Financing Activities -$3.416M -$18.76M
YoY Change -81.79% 9722.51%
NET CHANGE
Cash From Operating Activities $77.36M $56.74M
Cash From Investing Activities -$17.03M -$10.85M
Cash From Financing Activities -$3.416M -$18.76M
Net Change In Cash $32.05M $17.74M
YoY Change 80.63% -43.39%
FREE CASH FLOW
Cash From Operating Activities $77.36M $56.74M
Capital Expenditures -$13.78M -$11.74M
Free Cash Flow $91.14M $68.48M
YoY Change 33.09% -24.67%

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4930000 USD
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6760000 USD
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CY2020Q1 crto Depreciation Depletionand Amortizationand Provisionsfor Various
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27044000 USD
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5050000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Assets
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CY2020Q1 crto Increase Decrease In Operating Lease Liabilities Assets
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 crto Payments To Acquire Intangible Assets Property Plant And Equipment
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11258000 USD
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CY2020Q1 crto Increase Decreasein Accounts Payable Relatedto Intangible Assets Property Plantand Equipment
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-479000 USD
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3252000 USD
CY2020Q1 crto Paymentsfor Proceedsfrom Changein Other Financial Noncurrent Assets
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4000 USD
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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32049000 USD
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17743000 USD
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520060000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q1 us-gaap Interest Paid Net
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CY2020Q1 us-gaap Allocated Share Based Compensation Expense
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8100000 USD
CY2021Q1 us-gaap Restructuring Charges
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CY2020Q4 us-gaap Restructuring Reserve
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510000 USD
CY2021Q1 us-gaap Restructuring Charges
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5152000 USD
CY2021Q1 us-gaap Payments For Restructuring
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84000 USD
CY2021Q1 us-gaap Restructuring Reserve
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5578000 USD
CY2021Q1 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
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569751000 USD
CY2020 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
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625365000 USD
CY2021Q1 us-gaap Cash Equivalents At Carrying Value
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CY2020Q4 us-gaap Cash Equivalents At Carrying Value
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Cash
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CY2020Q4 us-gaap Cash
Cash
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q4 us-gaap Accounts Receivable Gross Current
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CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2021Q1 us-gaap Accounts Receivable Net Current
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CY2020Q4 us-gaap Accounts Receivable Net Current
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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39899000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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16068000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
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2759000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
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CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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3306000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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2989000 USD
CY2021Q1 crto Allowance For Doubtful Accounts Receivable Currency Translation Adjustment
AllowanceForDoubtfulAccountsReceivableCurrencyTranslationAdjustment
658000 USD
CY2020Q1 crto Allowance For Doubtful Accounts Receivable Currency Translation Adjustment
AllowanceForDoubtfulAccountsReceivableCurrencyTranslationAdjustment
490000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
38694000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
23084000 USD
CY2021Q1 us-gaap Proceeds Accounts Receivable Previously Written Off Recovery
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500000 USD
CY2020Q1 us-gaap Proceeds Accounts Receivable Previously Written Off Recovery
ProceedsAccountsReceivablePreviouslyWrittenOffRecovery
600000 USD
CY2021Q1 crto Prepayments To Suppliers
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4362000 USD
CY2020Q4 crto Prepayments To Suppliers
PrepaymentsToSuppliers
5613000 USD
CY2021Q1 crto Other Debtors
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3725000 USD
CY2020Q4 crto Other Debtors
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5991000 USD
CY2021Q1 us-gaap Prepaid Expense Current
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14407000 USD
CY2020Q4 us-gaap Prepaid Expense Current
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9801000 USD
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22494000 USD
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21405000 USD
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CY2020Q4 us-gaap Contract With Customer Refund Liability Current
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15529000 USD
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2366000 USD
CY2020Q4 crto Accounts Payable Capital Expenditures
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4721000 USD
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1918000 USD
CY2021Q1 us-gaap Contract With Customer Liability Current
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988000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
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84000 USD
CY2021Q1 crto Accounts Payable Accrued Liabilities Employeerelated Payablesand Taxes Payable Current
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32693000 USD
CY2020Q4 crto Accounts Payable Accrued Liabilities Employeerelated Payablesand Taxes Payable Current
AccountsPayableAccruedLiabilitiesEmployeerelatedPayablesandTaxesPayableCurrent
33390000 USD
CY2021Q1 us-gaap Operating Lease Cost
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12941000 USD
CY2020Q1 us-gaap Operating Lease Cost
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12850000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
83000 USD
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
342000 USD
CY2021Q1 us-gaap Variable Lease Cost
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217000 USD
CY2020Q1 us-gaap Variable Lease Cost
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525000 USD
CY2021Q1 us-gaap Sublease Income
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CY2020Q1 us-gaap Sublease Income
SubleaseIncome
202000 USD
CY2021Q1 us-gaap Lease Cost
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CY2020Q1 us-gaap Lease Cost
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CY2020 us-gaap Defined Benefit Plan Interest Cost
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CY2020 us-gaap Defined Benefit Plan Actuarial Gain Loss
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CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
6167000 USD
CY2021Q1 us-gaap Defined Benefit Plan Service Cost
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337000 USD
CY2021Q1 us-gaap Defined Benefit Plan Interest Cost
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13000 USD
CY2021Q1 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
629000 USD
CY2021Q1 us-gaap Defined Benefit Plan Foreign Currency Exchange Rate Changes Benefit Obligation
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation
267000 USD
CY2021Q1 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
5621000 USD
CY2021Q1 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.000125
CY2020 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
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CY2021Q1 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0005
CY2020 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
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0.05
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
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5553000 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
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3429000 USD
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
503376000 USD
CY2020Q4 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Number
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsNumber
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CY2021Q1 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Grantsin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsGrantsinPeriod
568148 shares
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CY2021Q1 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Exercised
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsExercised
101710 shares
CY2021Q1 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Vested
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181505 shares
CY2021Q1 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Forfeitedin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsForfeitedinPeriod
225520 shares
CY2021Q1 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Expirationsin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsExpirationsinPeriod
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CY2021Q1 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Number
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsNumber
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CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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CY2020Q1 us-gaap Allocated Share Based Compensation Expense
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8131000 USD
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SharebasedCompensationExpenseEmployeeandNonEmployee
7215000 USD
CY2020Q1 crto Sharebased Compensation Expense Employeeand Non Employee
SharebasedCompensationExpenseEmployeeandNonEmployee
8502000 USD
CY2020Q1 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
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CY2020Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2021Q1 us-gaap Interest Expense
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CY2020Q1 us-gaap Interest Expense
InterestExpense
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CY2020Q1 us-gaap Interest Expense Debt
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380000 USD
CY2021Q1 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
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123000 USD
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1344000 USD
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CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2021Q1 us-gaap Nonoperating Income Expense
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4998000 USD
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DeferredIncomeTaxExpenseBenefit
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CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10051000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7040000 USD
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0.30
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0.30
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.30
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.30
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22406000 USD
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15459000 USD
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0.37
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0.25
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22406000 USD
CY2020Q1 us-gaap Net Income Loss
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15459000 USD
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60741674 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61691001 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2972382 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
264309 shares
CY2021Q1 crto Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Options And Bspce
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsOptionsAndBSPCE
296071 shares
CY2020Q1 crto Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Options And Bspce
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsOptionsAndBSPCE
153786 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
67282 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
16486 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64077409 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62125582 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
332300 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2241223 shares
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
2250000 USD
CY2021Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
265000 USD
CY2021Q1 crto Loss Contingency Accrual Provision Used
LossContingencyAccrualProvisionUsed
247000 USD
CY2021Q1 crto Loss Contingency Accrual Provision Released Not Used
LossContingencyAccrualProvisionReleasedNotUsed
400000 USD
CY2021Q1 crto Loss Contingency Accrual Foreign Currency Translation Gain Loss
LossContingencyAccrualForeignCurrencyTranslationGainLoss
-95000 USD
CY2021Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1773000 USD
CY2021Q1 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
1773000 USD
CY2021Q1 crto Numberof Geographical Marketsinwhich Entity Operates
NumberofGeographicalMarketsinwhichEntityOperates
3 market
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
541077000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
503376000 USD
CY2021Q1 us-gaap Noncurrent Assets
NoncurrentAssets
247476000 USD
CY2020Q4 us-gaap Noncurrent Assets
NoncurrentAssets
269249000 USD

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