Catena Media reports €110.1m in 2022 revenue

Affiliate Catena Media has reported that year-end revenue from continuing operations was €110.1m ($117.3m), an increase of 7%.

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Reaching €84.5m, or 77% of the group's total revenue, North America saw a 24% rise

The number of new depositors reached 354,050, a 2% rise, but adjusted EBITDA from continuing operations fell by 16% to €50.1m, or a 46% adjusted EBITDA margin.

EBITDA from continuing operations fell by 10% to €48.1m, or a 44% EBITDA margin when adjusted for factors impacting comparability of €2.1m.

On 31 December, there were 76,330,859 outstanding shares and 33,761,013 outstanding warrants.

The company cancelled 4,295,510 common shares on February 1, 2023, bringing the total number of outstanding shares to 72,035,349.

Meanwhile, North American income rose by 31% for Q4 mostly because of Maryland's opening of its online sportsbook. From ongoing operations, total group revenue increased by 15%.

Pofit from current operations rose by 15% to €27.4m.

In line with a 45% adjusted EBITDA margin, adjusted EBITDA from continuing operations climbed by 14% to €12.3m.

With factors influencing comparability of € -0.5m, total EBITDA from continuing operations was €12.8m or an EBITDA margin of 47%.

Michael Daly, Catena Media CEO, said: “I would like to express my appreciation for the efforts of all our employees throughout 2022.

"Their ability to remain focused on the business despite the sometimes-significant distraction of organisational change impressed me greatly and I warmly thank each and everyone.”

Earlier this month, rival Better Collective intriguingly acquired a position of greater than 5% in Catena Media.

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