Catena Media Plc · OMXSTO:CTM
Catena Media — Q4 2025 Earnings Presentation
15 slides from Catena Media's earnings presentation, Feb 10, 2026
Slide 1: Year-end Report Q4 2025
Q4 Year-end Report Q4 2025 Jan–Dec Manuel Stan Mike Gerrow CEO CFO
Slide 2: Quarterly overview
Quarterly overview → Revenue up 53% YoY and 34% QoQ to EUR 15.6m – strongest quarter since transformation plan began → Adjusted EBITDA more than tripled to EUR 4.7m, lifting the margin to 30% (15) → Continued revenue diversification – solid revenue growth in performance marketing channels, including
Slide 3: Operational developments
Operational developments → Positive results from revenue diversification → Launched PlayPerks loyalty programme on PlayUSA.com in January 2025 – first group-wide CRM initiative, with plans to expand to other products → Launch of MRKTPLAYS+ in January 2026 – strategic evolution of subaffiliation plat
Slide 4: Organic search score
Organic search score → Organic search performance remained solid through Q4, with the company emerging positively from a key search-engine update during the quarter → Average keyword ranking score remained in the 3rd to 4th range through Q4 → Best average keyword score registered for the full year a
Slide 5: Financials
Financials Q4 2025 5
Slide 6: Financial summary
Financial summary Group Revenue (EUR m) NDCs (‘000s) Continuing ops → Revenue from continuing operations of EUR 15.6m (10.2), up 53% YoY and 34% QoQ → Adjusted for foreign exchange, revenue increased 68% YoY 15.6 10.2 40.4 25.8 → North America contributed 98% (87) of group revenue from Oct-Dec 2025
Slide 7: Segment performance
Segment performance Segments Continuing operations → Q4 revenue 89% casino, 11% sports Sports revenue (EUR m) Casino revenue (EUR m) → Casino revenue up 81% YoY to EUR 13.9m, or 41% QoQ → Regulated casino and social sweepstakes casino both delivered strong YoY and QoQ growth 1.7 2.5 13.9 7.6 Oct-Dec
Slide 8: Cost development
Cost development Cost development¹ Continuing operations → Total cost base of EUR 10.9m (8.7), up from EUR 8.7m in Q3 2025 → Direct costs increased to EUR 4.6m (1.4), driven by continued growth in subaffiliation and other performance marketing channels o Cost base decreased by 14% excluding revenue-
Slide 9: Financial position
Financial position → Operating cash flow from continuing operations of EUR 1.4m (-0.2) → Cash and cash equivalents of EUR 9.3m (8.5) at year-end → No debt instruments remaining following senior bond repayment in Q2 2025 → Hybrid capital securities: o Nominal value EUR 43.7m o Interest rate STIBOR +
Slide 10: Strategy and outlook
Strategy and outlook Q4 2025 10
Slide 11: North America market status
Market penetration* North America market status 50% 16% Sports Casino → Missouri launched online sports betting in December – revenue contribution was marginal from this relatively small market bordered by six already-regulated states 50% 84% Yet to regulate Yet to regulate → Alberta expected to lau
Slide 12: Strategic focus area evolution in Q4
Strategic focus area evolution in Q4 People Product Profit + Return-to-office initiative launched in Malta + Subaffiliation, CRM and paid media continued + Adjusted EBITDA margin increased to 30% as HQ in October, rollout to Miami hub planned to scale, with CRM more than doubling QoQ revenues improv
Slide 13: Key takeaways and financial targets
Key takeaways Financial targets → Revenue up 53% YoY and 34% QoQ – strongest quarter since transformation plan began → Adjusted EBITDA margin reached 30%, highest level since Q1 2023 1. Double-digit organic growth in group revenue → Organic search performance reached best average keyword score for t
Slide 14: Q&A
Q&A Q4 2025 14
Slide 15: Contact information and upcoming events
Contact information Upcoming events Investor Relations Year-end Report Q4 2025 Interim Report Q2 2026 ir@catenamedia.com 10 February 2026 11 August 2026 Manuel Stan, CEO Annual Report 2025 Interim Report Q3 2026 manuel.stan@catenamedia.com Week 13 2026 10 November 2026 Michael Gerrow, CFO Interim Re