Catena Media Plc · OMXSTO:CTM
Catena Media — Q2 2026 Earnings Presentation
16 slides from Catena Media's earnings presentation, August 2026
Slide 1: Interim Report Q2 2026
Q2 Interim Report Q2 2026 April–June Manuel Stan Michael Gerrow CFO CEO
Slide 2: Quarterly overview
Quarterly overview Revenue and adjusted EBITDA → Pause from recent quarters of solid growth – reflected structural changes in organic search that are impacting traditional affiliation → Q2 revenue broadly in line with same quarter last year, down 1% at EUR 9.5m (EUR 9.6m). 4% increase when adjusted
Slide 3: Operational developments
Operational developments → Q2 figures reflect the structural challenges that traditional affiliates face in relation to shifting dynamics in organic search → This impact extends beyond Catena Media and gaming affiliation to every industry reliant on organic search + → To reduce SEO reliance, Catena
Slide 4: Organic search performance
Organic search performance → In Q2, organic search performance showed high volatility but was relatively flat year on year as our teams worked diligently to optimise rankings → Shifting user behaviour means the same rankings now convert into fewer clicks and less traffic than before → SEO remains a
Slide 5: Financials
Financials Q2 2026 5
Slide 6: Financial summary
Financial summary Group Revenue (EUR m) NDCs (‘000s) Continuing ops → Revenue from continuing operations of EUR 9.5m (9.6), down 1% YoY and down 23% QoQ → Adjusted for currency rate changes, revenue increased 4% YoY 9.5 9.6 24.8 20.2 Apr-Jun 2026 Apr-Jun 2025 Apr-Jun 2026 Apr-Jun 2025 → North Americ
Slide 7: Segment performance
Segment performance Segments Continuing operations → Q2 revenue 90% casino, 10% sports Sports revenue (EUR m) Casino revenue (EUR m) → Casino revenue up 8% YoY to EUR 8.5m, down 22% QoQ → Regulated casino and social sweepstakes casino both 1.0 1.7 8.5 7.8 Apr-Jun 2026 Apr-Jun 2025 Apr-Jun 2026 Apr-J
Slide 8: Cost development
Cost development Cost development¹ Continuing operations → Total cost base of EUR 8.2m (8.2), down from EUR 9.7m in Q1 2026 → Direct costs increased to EUR 3.0m (2.4), driven by continued growth in MRKTPLAYS and performance marketing channels o Cost base decreased by 11% excluding revenue-driving di
Slide 9: Financial position
Financial position → Operating cash flow from continuing operations of EUR 0.03m (1.0) → First-half operating cash flow of EUR 4.4m (4.2m) → Capital expenditure more than doubled as capital is deployed into growth areas → Cash and cash equivalents of EUR 13.0m (6.6) on 30 June 2026 → No debt instrum
Slide 10: Hybrid capital securities and tender offer
Hybrid capital securities and tender offer → Hybrid capital securities (CATME H01): o EUR 43.7m nominal; perpetual, equity under IFRS o Interest STIBOR plus 11%; plus 12% from 10 July 2026 o Interest deferred; EUR 7.0m accumulated on 10 July 2026 o Deferred interest ranks ahead of shareholders and i
Slide 11: Strategy and outlook
Strategy and outlook Q2 2026 11
Slide 12: Addition of fourth strategic pillar – Performance
Addition of fourth strategic pillar – Performance People Product Profit Performance + Employee-net-promoter score + Continued improvements to + Adjusted EBITDA dipped to + Addition of new strategic pillar remained strong in Q2, with PlayPerks loyalty programme – lowest level since Q1 2025, focused o
Slide 13: North America market status
Our North American footprint North America market status → Post-quarter, Alberta launched online casino and sports betting on 13 July → First sports-and-casino launch since Ontario in 2022 CA-ON ME CA-AB VT – an attractive opportunity NH NY MA → Satisfactory initial results seen in first month since
Slide 14: Key takeaways and financial targets
Key takeaways Financial targets → Q2 revenue broadly in line with same quarter last year, decreasing 1% to EUR 9.5m (EUR 9.6m). 4% increase when adjusted for currency rate changes → Adjusted EBITDA down 11% at EUR 1.2m (EUR 1.4m), equal to an adjusted 1. Double-digit organic growth in group EBITDA m
Slide 15: Q&A
Q&A Q2 2026 15
Slide 16: Contact information and upcoming events
Contact information Upcoming events Investor Relations ir@catenamedia.com Interim Report Q3 2026 10 November 2026 Manuel Stan, CEO manuel.stan@catenamedia.com Michael Gerrow, CFO michael.gerrow@catenamedia.com 16