Catena Media CEO Manuel Stan has said he doesn’t expect any non-North America market exits in the coming months despite the region accounting for 90% of revenue in Q2 2025.
The affiliate reported revenue of €9.6m in the three months to 30 June, down 25% year-on-year (YoY) from €12.8m.
Within that, North America represented €8.7m and 90% of total group operations. However, revenue within the region was down 23% YoY.
Rest of the World (ROW) revenue fell from €1.6m to €929,000 and adjusted EBITDA slumped to just €479,000.
Group adjusted EBITDA rose from €700,000 to €1.4m, while new depositing customers from continuing operations slumped 36% to 20,229.
By vertical, casino was the most dominant, accounting for €7.8m of group revenue.
The segment did suffer a 22% YoY decline, which Stan or the company said was driven by media partnerships that were not terminated until Q3 2024.
Catena Media had, in recent quarters, championed the benefits of driving customers to sweepstakes operators.
In this earnings report, the affiliate said “some legal constraints in social sweepstakes” had seen quarter-on-quarter revenue hampered.
Sports revenue slipped 37% to €1.7m. Operations in North America were impacted by a weaker US dollar and the Google algorithm update in May 2024. A limited sports calendar was also cited.
Speaking on the earnings call, Catena Media CEO Stan said the firm’s focus was on North America, but that he wouldn’t pull the plug on rest of the world operations yet.
He said: “Our main focus is North America, not just the US, but also the rest of North America. As we discussed in previous quarters, we try to use our Bonus.com product in other geographies such as Mexico and Brazil.
“Any new market entry requires effort and requires investment, and we have not seen those markets being hugely successful for us yet. I don’t think that we will leave the other markets, but North America remains our number one focus.
“As you can see, we increased even further from 88% of our revenue coming from North America up to 90%. I think we’ll continue to see North America somewhere in the 90% range. I don’t expect that number to move in either direction in the next quarters.”
Also, during the quarter, Catena Media eliminated more than 50 roles, reducing headcount by around 25%. The move is expected to save between €4.5m and €5m.
The company also sold off its esports assets, Esports.net and esportsbet.com, in June, to an undisclosed buyer as Catena exited the vertical.
Stan continued: “Both the esports sale, as well as other smaller assets that we have sold in recent months, are part of our efforts to focus on our core products that represent, in our opinion, the highest opportunity to generate long-term ROI.”
Following release of the results last night (12 August), Catena Media’s share price is now 3.10 SEK – a 27% uptick since market open.
The post Catena Media to remain in ROW markets despite North America revenue dominance first appeared on EGR Intel.
CEO Manuel Stan says US and Canada returned 90% of €9.6m Q2 revenue for affiliate, while he adds further colour on esports asset sale
The post Catena Media to remain in ROW markets despite North America revenue dominance first appeared on EGR Intel.