Catena Media reports Q1 2023 results

Catena Media reports Q1 2023 results

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Catena Media reports Q1 2023 results

Catena Media has recently published its financial performance report for the year’s first quarter, which highlighted a steady period for the company.

The firm reported a slight revenue decrease of 5% in the period, which went down from the prior year’s 37 million euros to 35 million euros. This led to a slightly higher adjusted EBITDA downturn of 7%, which went from 22.1 million euros to 20.5 million euros. The company’s adjusted EBITDA margin stayed nearly the same at 59% in contrast to the prior year’s 60%.

Catena Media’s earnings per share figure went down as well, going from 16 cents earned per share to 12 cents. However, the firm’s liquid assets were doubled in the period, with its cash and cash equivalents sitting at 52 million euros at the end of the quarter, up from last year’s 26 million euros.

The report also highlighted the results of Catena Media’s North American operations, which experienced a smaller downturn in revenue, going down by only 2% from 29.5 million euros to just under 29 million euros.

One of the reasons for the declines is the company’s new depositing users figure, which went down by 3% from 117 thousand to 113 thousand. Additionally, the firm’s statistics were helped significantly by its entrance into the iGaming markets of Ohio and Massachusetts, where the pastime was legalized on the 1st of January and the 10th of March respectively.

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