Catena Media concluded 2025 with a strong Q4 performance, showcasing significant improvements in revenue and profitability.
The company’s Q4 and year-end report reveals a successful pivot toward high-margin casino verticals in North America, which now serves as the primary engine for the group’s recovery.
Casino Segment Dominates Revenue Mix
Catena Media’s revenue for Q4 2025 reached €15.6 million, representing a sharp 53% year-on-year increase. North America’s dominance was clear, accounting for 98% of total group revenue during the period. The casino segment was the standout performer, generating €13.9 million, an 81% jump compared to the previous year.
This growth was fueled by a combination of regulated US markets, social sweepstakes products, and improved monetization through CRM and sub-affiliation initiatives such as MRKTPLAYS+. While the casino vertical thrived, the sports segment continued to face pressure, with revenue falling 33% to €1.7 million.
This contrast underlines Catena Media’s strategic decision to double down on casino traffic while scaling back exposure elsewhere.
Profitability and Strategy for 2026
The company’s focus on cost discipline and operational efficiency has started to reflect in its bottom line. Adjusted EBITDA for the quarter reached €4.7 million, a substantial improvement over the €1.5 million reported in Q4 2024. Margins also expanded to 30%, indicating a much healthier operational structure.
Management has described 2025 as a year defined by execution rather than expansion. By concentrating on fewer products and higher-value markets, the group has found a more stable footing. Regarding the year’s progress, the management team stated:
“2025 was a year focused on execution and tighter priorities. We continue to concentrate on fewer products and markets, with a strong emphasis on casino in North America. The fourth quarter shows that Catena Media’s streamlined approach is starting to translate into better numbers.”
