Criteo SA's stock plummeted 18.24% during intraday trading on Wednesday, following the release of its first-quarter financial results for 2026.

The advertising technology company reported a 6% decline in revenue to $425 million compared to the same period last year. More significantly, net income dropped 78% to $8.6 million, while adjusted EBITDA fell 30% to $65 million. Free cash flow also sank 65% to $16 million, indicating broader financial challenges beyond just top-line revenue.

Although Criteo highlighted its strategic partnership with OpenAI as the first AdTech partner integrating demand into ChatGPT's advertising offering, investors focused on the substantial declines across key financial metrics. The company's adjusted earnings per share of $0.73 represented a decline from $1.10 in the year-ago quarter, despite beating analyst estimates of $0.57 per share.