Catena Media reports 53% revenue increase in Q1 2021
Catena Media has reported operating revenue of €40.7m ($49.8m) for the first quarter of 2021, a 53% increase from the prior-year period.
Organic search revenue was €38.4m, a 61% year-on-year increase, while adjusted EBITDA increased by 94% to €25.1m. Earnings per share were 0.26 and 0.17 before and after dilution respectively, while operating cash flow increased by 85% to €20.8m.
New depositing customers (NDCs) meanwhile totalled 157,546, a 32% increase from the 119,529 NDCs in the prior-year period.
In the Q1 2021 report, Catena also highlighted the growth of its US iGaming operations, which rose by more than 200% to €22.4m. The company also noted significant changes to the board in the period, including Göran Blomberg’s appointment as Interim CEO, effective 7 January 2021, followed by Michael Daly’s appointment as group CEO, effective 1 March 2021.
“I am pleased to report a very strong start to the year by Catena Media,” said Daly (pictured). “Revenue and earnings reached all-time quarterly highs thanks to exceptional performance in North America and solid gains in other parts of the business. This robust showing provides a springboard to achieve revenue gains during 2021 well above our target of double-digit organic growth.
“Our excellent performance reflects a solid focus on driving our global portfolio of affiliation brands. Revenue growth in North America was exceptional, supported by the successful launch of operations in Michigan and Virginia.”
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
