Raketech Reports Q3 Financial Results Highlighting Focused Restructuring Efforts
Stable EBITDA Despite Revenue Decline
Raketech, a prominent player in the iGaming affiliate sector, released its earnings for the third quarter. The company’s revenue dropped to EUR 6.2 million compared to EUR 10.7 million in the same period last year, reflecting ongoing restructuring activities. Nonetheless, Raketech’s adjusted EBITDA and reported EBITDA remained relatively steady at EUR 1.2 million and EUR 1.1 million, respectively, indicating underlying business stability.
The firm’s Affiliation Marketing segment continued to be a strong pillar, maintaining a consistent contribution to overall performance. Subaffiliation revenues held steady at EUR 1.9 million, while the Organic Publisher Network saw a notable increase, delivering EUR 0.9 million this quarter. Conversely, the Paid Publisher Network experienced a downturn, consistent with prevailing market conditions.
Cash flow for Q3 stood at EUR 1.1 million, though it was influenced by certain tax-related payments during the quarter.
Ongoing Streamlining and Strategic Partnerships
During the quarter, Raketech strengthened its collaboration with a U.S. sports betting and casino publisher within its Organic Publisher Network and AffiliationCloud, marked by a $750,000 minority investment. This partnership has already become a significant growth factor for the company.
The company continued efforts to optimize its cost structure and operational flexibility. A key move was the sale of Casumba assets for EUR 12 million, which resulted in a non-cash loss of about EUR 10 million. However, Raketech emphasized this loss does not impact its cash flow or core operational results.
Commitment to Focus and Growth
CEO Johan Svensson described the third quarter as progress in executing Raketech’s platform-first strategy. He highlighted the company’s commitment to maintaining clear priorities and strengthening its core business.
“With a streamlined structure, enhanced partnerships, and momentum in our Organic Publisher Network, Raketech approaches the year-end with greater focus and agility to pursue our platform-first vision,” Svensson said.
He further noted that Raketech aims to bolster its AffiliationCloud, ensure disciplined investment, and create sustained value for partners, shareholders, and employees alike.
