Affiliate marketing firm, Catena Media, announced a 7% year-over-year revenue surge for 2022, hitting €110.1 million (roughly $117.3 million).
This expansion was primarily driven by robust results in the North American region, representing 77% of the group’s overall revenue at €84.5 million, a substantial 24% jump from the preceding year. The organization credited this achievement to the growth of the digital sports wagering sector in North America, specifically emphasizing the Maryland launch.
Despite a 2% uptick in new depositing clients (NDCs), reaching 354,050, Catena Media saw a 16% drop in adjusted EBITDA for ongoing operations, settling at €50.1 million with a 46% margin. This reduction was linked to modifications within the business. Excluding these elements, the adjusted EBITDA margin for continuing operations reached 44%.
The final quarter of 2022 proved positive for Catena Media, with a 31% spike in North American revenue and a 15% total revenue increase for continuing operations. This upward trajectory extended to profitability, with a 15% climb in operating income, hitting €2.74 million. The adjusted EBITDA for ongoing operations experienced a 14% rise, reaching €1.23 million with a 45% margin.
Michael Daly, Chief Executive Officer of Catena Media, conveyed appreciation to the staff for their efforts and commitment throughout the year.
Although the reorganization has encountered a few obstacles, I am incredibly impressed by the dedication everyone has shown to maintaining seamless operations. I extend my sincere gratitude to each and every team member.”
This development coincides with an intriguing period, as Catena, a rival firm, recently had a 5% ownership acquired by Better Collective earlier this month, sparking widespread conjecture regarding their motives.