Catena Media plc (CTM) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.091 -- 00:00:06.315 I am Manuel Stan and today I'm joined by our chief financial officer, Mike Giroux. 00:00:06.315 -- 00:00:11.378 Today we will be sticking to our Q2 interim report, related financials and 00:00:11.378 -- 00:00:15.359 our strategy and outlook going forward. 00:00:18.182 -- 00:00:22.805 We will start today's presentation with a high level summary of the most important developments 00:00:22.805 -- 00:00:24.746 in the quarter. 00:00:24.746 -- 00:00:30.796 Q2 was a difficult quarter, which marked the pause from recent quarters of solid growth. 00:00:30.796 -- 00:00:35.878 Q2 reflected the structural challenges that traditional affiliation is facing 00:00:35.878 -- 00:00:39.800 related to the shifting dynamics of organic search. 00:00:39.800 -- 00:00:44.962 Q2 revenue amounted to 9.5 million euros. This represents 00:00:44.962 -- 00:00:50.364 a decrease of 1% versus the same quarter previous year and 23% 00:00:50.364 -- 00:00:55.727 down versus last quarter. Q2 revenue saw 4% year-on-year 00:00:55.727 -- 00:01:00.528 increase when adjusted for currency rate changes. 00:01:00.922 -- 00:01:06.103 The adjusted EBITDA was 1.2 million euros down 11% 00:01:06.103 -- 00:01:10.785 from 1.4 million euros the corresponding quarter last year. 00:01:10.785 -- 00:01:13.485 This meant a margin of 13% 00:01:13.485 -- 00:01:18.007 versus 14% the same period last year. 00:01:18.007 -- 00:01:23.208 The discipline cost management continued with a total cost base flat year 00:01:23.208 -- 00:01:29.509 on year at 8.2 million euros but down 15% from Q1 2026. 00:01:31.584 -- 00:01:36.086 The new depositing players increased 23% year-on-year, 00:01:36.086 -- 00:01:39.147 up to 24,781. 00:01:41.249 -- 00:01:46.551 From geographical perspective, the share of reven...