Catena Media Reports H1 2026 Results and Outlines Strategy

Catena Media Reports Q2 2026 Results and Outlines Strategy to Evolve Beyond Traditional SEO

by Dimitri Dimitrov Published on August 11, 2026

Editorial Standards ▾

✓ Fact-Checked ▾

⊘ Independence ▾

↗ Commercial Disclosure ▾

A person reviewing financial report documents and charts with a pen.

Key Takeaways

⏱ 3 min read

Financial Performance — Revenue from continuing operations reached EUR 9.5m in Q2 2026 (a 1 percent decrease), while the January–June half-year revenue increased by 12 percent to EUR 21.8m

North American Growth — North American operations drove 97 percent of Q2 continuing revenue, rising 6 percent to EUR 9.2m, and grew 20 percent to EUR 21.0m for the first half of the year

Customer Acquisition — New depositing customers (NDCs) from continuing operations increased by 23 percent to 24,781 in Q2 and grew 41 percent to 59,354 for the half-year period

Strategic Shift — Catena Media is evolving beyond traditional SEO affiliation into a technical infrastructure platform provider, developing an automated marketplace ecosystem scheduled for commercial launch in the first half of next year

CEO Manuel Stan Details Transition Toward a Technical Infrastructure Platform Amid Search-Driven Industry Headwinds

Catena Media plc has published its interim H1 report for the period of January–June 2026, outlining stable year-to-date performance alongside strategic moves to reshape its business model beyond traditional search engine optimization (SEO).

Q2 and Half-Year 2026 Financial Highlights

For the second quarter ending 30 June 2026, the group reported:

Revenue: Revenue from continuing operations reached EUR 9.5m, marking a 1 percent decrease compared to EUR 9.6m in the corresponding quarter last year.
North American Contribution: North American revenue grew by 6 percent to EUR 9.2m (8.7), accounting for 97 percent of group revenue from continuing operations.
New Depositing Customers (NDCs): NDCs totaled 24,781, representing a 23 percent increase from 20,229 in Q2 2025.
Adjusted EBITDA: Adjusted EBITDA decreased by 11 percent to EUR 1.2m (1.4), representing an adjusted EBITDA margin of 13 percent compared to 14 percent previously.
EBITDA: EBITDA decreased by 46 percent to EUR 1.2m (2.2), yielding an EBITDA margin of 13 percent (23).
Earnings Per Share: EPS from continuing operations stood at EUR 0.001 before and after dilution, down from EUR 0.01 in Q2 2025.

For the broader January–June 2026 half-year period:

Revenue from continuing operations increased by 12 percent to EUR 21.8m (19.4).
North American revenue rose by 20 percent to EUR 21.0m (17.4), representing 96 percent of group revenue.
Total NDCs increased by 41 percent to 59,354 (42,147).
Adjusted EBITDA grew by 70 percent to EUR 3.9m (2.3), with an improved margin of 18 percent (12).
Total EBITDA increased by 35 percent to EUR 3.8m (2.8), maintaining an 18 percent margin (15).
Earnings per share rose to EUR 0.02 before and after dilution, compared to EUR -0.002 in the first half of 2025.

Strategic Evolution Beyond Traditional Affiliation

Addressing the Q2 figures, CEO Manuel Stan noted that the results reflect industry-wide organic search headwinds and highlight the structural volatility inherent in search-dependent business models. To mitigate this exposure, Catena Media’s board and management are actively reshaping the company to evolve beyond traditional lead generation into a technical infrastructure platform provider.

“In Q2, we reported revenue of EUR 9.5m, broadly in line with the same quarter last year, and adjusted EBITDA of EUR 1.2m, a decrease of EUR 0.2m from the comparable quarter. These results reflect industry-wide headwinds in organic search and mark a pause after several quarters of strong operating performance. The quarterly revenue decline underlines a structural reality facing our industry: traditional affiliation remains closely tied to the shifting dynamics of organic search.”

The company is developing a next-generation, fully automated marketplace ecosystem connecting publishers and advertisers across multiple verticals with deep analytics at its core. Final testing is scheduled for late 2026 ahead of a commercial launch in the first half of next year. This transition builds upon the success of MRKTPLAYS, which currently contributes over a third of group revenue.

At the same time, Catena Media confirmed it is not abandoning organic search, continuing to invest in core organic brands and growth drivers such as the PlayPerks loyalty programme on PlayUSA.com.

Corporate Actions and Capital Management

Significant corporate milestones include:

Board Changes: The Annual General Meeting on 27 May re-elected Erik Flinck, Sean Hurley, and Martin Zetterlund, while electing Seth Young as a new director.
Share Buyback Authorisation: An Extraordinary General Meeting on 30 June authorised the acquisition of up to 10 percent of total issued share capital (7,877,444 shares).
Long-Term Incentive Programme Buyback: On 11 August 2026, Catena Media announced plans to launch a share buyback programme covering up to 5.98 percent of outstanding shares to fulfill long-term incentive obligations.
Hybrid Capital Securities Offer: Also announced on 11 August 2026, the group initiated a voluntary buyback offer for CATME H01 hybrid capital securities at 20.00 percent of their nominal amount (SEK 20 for every SEK 100 of nominal value), excluding capitalised or accrued interest.