Catena Media Reports a 53% Increase in Revenue for Q1 2021

Catena Media has published its first quarter 2021 results. The company reported operating revenue of €40.7m ($49.8m) for Q1 2021, a 53% increase when compared to Q1 2020.

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. 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,” Daly said.

“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,” Daly added.