Global economic uncertainty driven by the Middle East conflict and potential IMF downgrades could reduce advertising budgets, negatively impacting Criteo's revenue as companies cut discretionary spending.

A strong US economy, indicated by 178,000 jobs added in March and an unemployment rate of 4.3%, could help buffer negative global economic trends. Robust US employment often supports consumer confidence and spending, which in turn can sustain digital advertising demand in a key market for Criteo.

The ongoing evolution of the digital advertising industry, particularly changes related to cookie deprecation and advancements in AI-powered solutions, is a critical factor. Criteo's strategic investments in AI (e.g., Agentic Commerce, OpenAI partnership) and its focus on retail media are crucial for adapting to these industry-wide transformations and maintaining competitive positioning.