The company put the drop down to the planned phase-out of its Paid Publisher Network within SubAffiliation and weaker results in non-core markets. Affiliation Marketing revenue slipped to €3.7 million from €4.3 million, although Sweden, its largest market, grew both quarter-on-quarter and year-on-year and Denmark posted strong annual growth. Free cash flow before earnouts came to €1.3 million, with €0.9 million paid out in earnouts during the period.
After the quarter, Raketech agreed to settle the remaining Casumba Media earnout for €8.2 million, compared with around €20.3 million owed under the original terms, using €5.2 million in new financing from Bank of Valletta at 6.65% and €3.0 million of existing cash. Once the deal completes toward the end of the year, net interest-bearing debt is expected to fall from €18.1 million to about €5.6 million, cutting leverage from 3.8x to roughly 1.2x adjusted EBITDA.
Johan Svensson, CEO of Raketech, said:
“We view this as an important milestone for Raketech. Until now, a large share of our cash flow has gone towards paying for assets we no longer own. Going forward, the cash we generate will go towards reducing our own bank debt and investing in growth.”
Raketech also launched Corriere del Gioco on October 6, bringing its media-led model to Italy for the first time, and plans two more local industry media launches before the end of the year, including one in Finland ahead of its expected 2027 licensing regime.
