Adjusted EBITDA dropped to €0.7 million from €2.9 million, a figure that included a €0.7 million reversal of bonus accruals, while the loss after tax from continuing operations widened to €13.3 million. Casino revenue declined 28% to €7.1 million, and sports revenue fell 41% to €1.1 million, with new depositing customers down to 20,603 from 23,999. North America, which accounts for almost all of the business, brought in €7.9 million.
CEO Manuel Stan described the period as a disappointing quarter, saying generative search has created a zero-click effect that the company sees as a lasting change, while he expects the cut in operator affiliate budgets to be temporary.
Manuel Stan, CEO of Catena Media, commented:
“We expect near-term conditions to remain demanding as search traffic continues to trend lower.”
Costs fell to €7.6 million from €8.7 million, and cash rose to €13.7 million from €13.0 million in June, while its MRKTPLAYS business now accounts for more than a third of group revenue. Catena also plans to open its traffiqX publisher and advertiser exchange in beta in the first quarter of 2027, and the interest rate on its €43.7 million hybrid securities stepped up to three-month STIBOR plus 12% in July.
