‘We are optimistic that the worst of the impact on iGaming is behind us’ – Catena CEO

“I am pleased to report a very strong start to the year by Catena Media,” said its CEO Michael Daly, on presentation of the online lead generation company’s Interim report for the period of January to March 2021.

The company reported an operating revenue of €40.7m for the period, marking an increase of 53 per cent. “Revenue and earnings reached all-time quarterly highs thanks to exceptional performance in North America and solid gains in other parts of the business,” the CEO said, commenting that the robust showing provides a springboard to achieve revenue gains during 2021 well above the company’s target of double-digit organic growth.

“The excellent performance reflects our teams’ focus on driving our global portfolio of affiliation brands,” he continued, highlighting a special credit to North America, where year-on-year revenue jumped more than 200 percent, supported by the successful launch of operations in Michigan and Virginia during January. Going forward, Mr Daly emphasised that Catena’s North American business will benefit substantially from the addition of Lineups.com, which the company acquired earlier this month.

“The successful refinancing carried out in the last year and the efforts of our internal teams have significantly reduced group net debt. Combined with strong cash generation across the business, this positions us to conduct additional M&A where we see scope for adding true value to the business,” the CEO added.

Remarking on the effects of the pandemic on the sector, Mr Daly said that “in Q1 we continued to see reduced volatility arising from the COVID-19 pandemic and we are optimistic that the worst of the impact on sports betting and iGaming is now behind us. Nevertheless, the risk of resurgence in Europe and elsewhere continues to temper our expectations somewhat.”

Looking ahead, the CEO noted that the second quarter of 2021 has begun well for the company, with organic revenue growth in April of 15 per cent compared to average monthly revenue in Q2 last year. “Q2 was our strongest quarter in 2020 due to high online casino demand in the US. 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 ten years and beyond.”

“On a personal note,” he concluded, “my sincere thanks to the team for their hard work and efforts. In these first months as CEO, I have been extremely happy with everyone’s efforts to double down on Catena Media and help us grow and take the big win.”