A prominent iGaming affiliate network, Catena Media, announced €110.1 million ($117.3 million) in earnings for 2022, a 7% rise from the preceding year. This expansion was largely attributed to a robust showing in the United States and Canada, which witnessed a notable 24% revenue jump, hitting €84.5 million. This geographic area now constitutes 77% of the firm’s overall earnings.
Despite a 2% uptick in first-time depositors (FTDs), reaching 354,050, Catena Media saw a 16% drop in modified EBITDA to €50.1 million for its ongoing business activities. This led to a 46% adjusted EBITDA margin. The organization linked this decrease to expenditures in prospective development and enlargement.
The final quarter of 2022 proved especially prosperous for Catena Media, with US and Canadian revenue surging by 31%, propelled by the introduction of internet sports wagering in Maryland. This aided a 15% total revenue increase for the company’s continuing operations.
Chief Executive Michael Daly conveyed his appreciation to the Catena Media staff for their diligence and commitment throughout the year, recognizing their input to the company’s accomplishments in a demanding and fluctuating marketplace.
Im genuinely amazed by the team’s ability to prioritize key objectives amidst constant shifts. It hasn’t been simple, but everyone’s dedication is valued.”
This is noteworthy given that, at the start of the month, competitor Better Collective set its sights on Catena Media, procuring upwards of 5% of the business.