Catena Media reveals expected 31% rise in Q4 NA revenue

Catena Media has posted its preliminary Q4 expectations, which show a 31% rise in its North American revenue.

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In its report, Catena expects to make $16.4m from the North American market during the quarter, which will make up an estimated 78% of the group’s revenue.

Furthermore, the affiliate expects its total revenue to amount to $23.8m for Q4, which represents a 15% increase from 2021.

Meanwhile, its adjusted EBITDA is estimated to come in at $9.4m – a 14% increase from last year.

However, the group also warned that its operating profit would drop due to impairment charges of $7.8m.

Catena Media CEO Michael Daly commented on the expected results: “It is pleasing to see such strong performance from our core North American business in Q4.

“We gained uplift from the launch of licensed online sports betting in Maryland in November and a strong run-in to the go-live for online sports betting in Ohio on 1 January 2023, which delivered our strongest ever launch period for a US state sportsbook launch.”

“We successfully delivered on our strategy of further expansion in North America while completing our strategic review with the sale of AskGamblers and related assets. These preliminary results reaffirm our strategy and provide a solid platform as we enter 2023.”

In other related news, Catena appointed Carnegie Investment Bank as its new financial advisor.

The investment Bank will assist the group in assessing strategic options as part of conversations with third parties that have shown interest in acquiring certain assets, including all the remaining assets of the company.

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