Betting and gaming affiliate media group Raketech has reported a stark drop in annual revenue for 2025, dropping by 47.3% from €51.3m in 2024 to €27m.
The Malta-based business, which focuses mainly on the Scandinavian market, is currently undergoing a restructuring and has recently divested a number of non-core businesses.
It is still in the black, however, making a gross profit of €2.82m, but this is a far cry from the €6.35m which it made in 2024. Gross profit for Q4 2025 stood at €645,000, dropping 38.7% year-on-year.
The results come three weeks on from the resignation of CFO Måns Svalborn, who joined the business in 2019.
Raketech is currently shifting towards organic growth and phasing out its Paid Publisher Network to focus on its Organic Publisher Network. The latter delivered ‘moderate’ quarter-over-quarter growth and is central to the company’s long-term strategy.
“During the quarter, we continued to sharpen Raketech’s strategic focus, advancing our platform-first model while improving performance across our core Nordic assets,” said Johan Svensson, CEO of Raketech.
“With disciplined execution, a continued shift toward growing the Organic Publisher Network within SubAffiliation, and ongoing development of AffiliationCloud, we are strengthening the foundations for long-term value creation.”
The Raketech restructure
Svensson, who also co-founded the business, returned to the CEO role in 2024 following the departure of Oskar Mühlbach.
He was at the helm for the €12m September 2025 sale of its Japanese arm Casumba Media, saying that the move would “eliminate regulatory exposure and unlock resources for growth opportunities”.
Now, the business will focus on advancing its proprietary technology platform AffiliationCloud, which is central to its ‘platform-first’ strategy. The platform is being developed with a specific focus on the Nordics, alongside a targeted expansion in North America.
It is yet to be seen if the listed company will make a move towards Finland ahead of the launch of its multi-licence betting and gaming market next year.
This would be in line with Raketech’s Nordic focus and would mirror the footsteps of many other businesses in the industry, including the Aland Islands’ Paf, Sweden’s ATG, and Raketech’s fellow Malta business Immense Group.
Betting and gaming affiliate media group Raketech has reported a stark drop in annual revenue for 2025, dropping by 47.3% from €51.3m in 2024 to €27m. The Malta-based business, which focuses mainly on the Scandinavian market, is currently undergoing a restructuring and has recently divested a number of non-core businesses. It is still in the