Q2 2025 Catena Media PLC Earnings Call Transcript
Key Points
- Revenue in Q2 was stable for the third consecutive quarter, showing signs of stabilization.
- Adjusted EBITDA margin improved to 14% in Q2, more than doubling from the previous quarter.
- Operational efficiency efforts resulted in a year-on-year cost decrease of 33%, including a 25% headcount reduction.
- The company is now in a net cash position after repaying the senior bond in June.
- Performance marketing channels like paid media, CRM, and sub-affiliation showed growth, contributing to revenue diversification.
- Q2 revenue from continuing operations declined by 25% year-on-year.
- North American sports revenue decreased by 37% year-on-year, reflecting continued struggles.
- Casino revenue in North America decreased by 21% year-on-year, despite a quarter-on-quarter increase.
- SEO rankings faced challenges during the quarter, impacting performance.
- The company deferred interest payments on hybrid capital securities, which incurs additional interest costs and restricts dividend payments.
Good morning. Good evening, everyone. Welcome to Catena Media's Q2 interim report. I am Manuel Stan, and today, I'm joined by our Chief Financial Officer, Mike Gerrow. Today, we will be speaking to our Q2 interim report, related financials and our strategy and outlook going forward.
Q2 overview. We will start today's presentation with a high-level summary of the most important developments in the quarter. Revenue in the second quarter was broadly stable for the third consecutive quarter at EUR9.6 million, a 2% decline from Q1 and 25% decline year-on-year. Adjusted for the weaker US dollar, our primary invoicing currency, revenue increased by 6% from Q1.
The adjusted EBITDA margin improved to EUR1.4 million, more than double from previous quarter as well as Q2 2024. The adjusted EBITDA margin improved to 14% in Q2. During the quarter, we continued to focus on operational efficiency, which resulted in a year-on-year cost decrease of 33%, including headcount reduction of 25% in May, which is estimated to generate annual cost savings
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