Catena Media Reports Strong Q3 Performance and Growth
Overview of Q3 Financial Performance
Catena Media, a leading affiliate in the gaming sector, has released its financial results for the third quarter ending September 30, 2025. The company showcased solid revenue growth and improved profitability metrics during this period.
Revenue and Profitability Highlights
The company reported Q3 revenues of EUR 11.6 million (approximately $13.3 million), representing a 9% increase compared to the same quarter last year. North America remained a key driver, generating EUR 11.2 million ($12.9 million), or 96% of revenue from ongoing operations, marking an 18% growth year over year.
Adjusted EBITDA surged by 119%, reaching EUR 2.9 million ($3.3 million), which corresponds to a margin of 25%. Meanwhile, EBITDA soared by an impressive 300% to EUR 2.7 million ($3.1 million), achieving a margin of 23%.
Despite this financial progress, the number of new depositing customers dropped by 12% year on year to 23,999 in Q3. The company reported a loss per share of EUR 0.19 ($0.22), a notable improvement from EUR 0.55 in the prior year’s quarter.
During Q3, Catena also recorded a non-cash impairment charge of EUR 16.5 million ($18.9 million) related to certain sports assets in North America and casino assets in the Asia-Pacific region.
Year-to-Date Financial Summary
For the first nine months of the year, Catena posted revenue of EUR 31 million ($35.6 million), a 21% decline year over year, largely due to an 18% drop in North American revenue to EUR 28.6 million ($32.81 million). However, adjusted EBITDA from continuing operations increased by 35% to EUR 5.2 million ($6 million), with a margin of 17%. EBITDA from continuing operations experienced a substantial rise of 645%, reaching EUR 5.5 million ($6.31 million), with an 18% margin.
The total number of new depositing customers for the year reached 66,146, reflecting a 36% decrease compared to the same period last year. Similarly, loss per share improved significantly from EUR 0.62 to EUR 0.19 ($0.22).
CEO’s Perspective on Business Progress
Manuel Stan, CEO of Catena Media, described the quarter as one marked by steady operational advancement. He credited the positive results to strategic optimization initiatives implemented earlier in the year.
“The dedication and resilience of our teams played a crucial role in boosting top-line growth and profitability. The objectives and key result metrics set at the beginning of the year have provided clear direction, enhanced execution, and greater accountability across our products,” Stan said.
Stan further highlighted strong enthusiasm for the launch of sub-affiliation programs and ongoing investments in search engine optimization (SEO). He also noted that the effects of artificial intelligence on SEO remain uncertain and challenging to predict.
The company has made steady improvements in the casino segment but continues to face challenges within the sports market. Stan expressed gratitude to the company’s team members and shareholders for their ongoing support throughout this period.
