Affiliate marketing company Catena Media has released its financial results for Q2 of 2025, revealing a complex but ultimately encouraging picture of its ongoing business stabilization.
While top-line revenue continued to decline, key profitability metrics showed a dramatic year-on-year improvement, suggesting the company’s strategic efficiency measures are beginning to take hold.
For the three-month period ending June 30, revenue from continuous operations totaled €9.6 million, a decrease of 25% compared to the same period last year.
The North American market, which constitutes 90% of the company’s revenue from continuing operations, fell 23% to €8.7 million. New depositing customer (NDC) numbers also dropped by 36% year-on-year.
However, these declines were sharply contrasted by a significant upswing in profitability. Adjusted EBITDA soared by 104% to €1.4 million, causing the adjusted EBITDA margin to nearly triple from 5% in Q2 2024 to 14% in the current quarter. Furthermore, EBITDA from continuing operations swung from a loss of €0.6 million last year to a positive €2.2 million.
In his comments on the results, CEO Manuel Stan highlighted that Q2 brought tangible signs that the Catena Media stabilization efforts are having a measurable impact.
He noted that this was the company’s strongest quarter-on-quarter Q2 performance in several years, driven by “underlying business improvements rather than state launches or seasonal tailwinds.”
Looking ahead, Stan outlined a clear strategy for the second half of the year focused on building upon this progress. The company will aim to further improve profitability and build long-term resilience by diversifying its offerings, optimizing operations, and consolidating its technology stack.
The Q2 results, though mixed, signal a pivotal moment for Catena Media as it navigates a challenging affiliate landscape by focusing intensely on operational efficiency and profitability.
