Catena Media is fast becoming the bible of reference for hybrid Affiliates mining the interface of iGaming and Fintech, following a record Q1 that has featured superlatives all-round.
Revenue for the three months ending March 21 hit €40.7 million (£35.1m/US$49.55m), over 50 per cent higher than the €26.7 million (£23.03m/US$32.5m) generated, like-for-like, in 2020.
Performance in North America and other key global markets was described as “exceptional” by the core Swedish, Malta-based company.
Online casino remained the biggest income source in Q1, clocking 62 per cent of all revenue, followed by sports betting at 35 per cent and financial trading at 3 per cent.
In North America Q1 year-on-year revenue, powered by nascent operations in Michigan and Virginia states, which joined the Catena stable in Pennsylvania and New Jersey, grew more than 200 per cent.
Outcomes in Italy and Japan, the latter featuring double-digit revenue growth, were also comparatively impressive.
First quarter sports betting revenue was up over 65 per cent, to €14.4 million (£12.42m/US$17.53m).
Operating profit for Q1 hit €21 million (£18.11m/US$25.56m), up over 130 per cent year-on-year.
And Adjusted EBITA–earnings before interest, tax, depreciation and amortisation—almost doubled to €25.1 million (£21.65/US$30.55m).
“We still have a way to go to realise our full potential, but the outlook is bright and I see clear promise for a prolonged upward trajectory for Catena Media in the next five to 10 years and beyond,” said CEO Michael Daly.
Most significantly, Catena’s so-called New Depositing Customers (NDCs) increased over 30 per cent to total 157,546.
AskGamblers.com, a key platform in the company’s drive for safer gambling, continues to be an exceptionally strong casino product in Europe and shows steady growth in new markets including Japan.
Company expectations, meantime, are still tempered by the very real threats of more Covid outbreaks.
The board is now planning to hold an Extraordinary General Meeting in mid July — with the intention of green lighting a new company strategy of buying back shares, taking greater control, all the more to increase agility and the ability to fend 0ff future pandemic challenges.