Raketech, a prominent affiliate marketing group, reported revenue from continued operations of €6.2 million ($7.1 million) for the third quarter of 2025.
This figure represents a significant 42% decline year-on-year, a result primarily attributed to the group’s ongoing strategy of divesting non-core assets and the sustained pressure affecting industry-wide paid traffic channels.
Despite the sharp revenue contraction, the company demonstrated effective cost management. Adjusted EBITDA from continuing operations remained broadly stable at €1.2 million, indicating that the business has successfully resized its cost base to align with its more focused operational model.
The group is narrowing its strategic focus toward fully owned publishers and high-value exclusive partnerships.
Performance within the core business segments showed a pronounced shift toward organic growth. The Organic Publisher Network demonstrated significant momentum, with revenue climbing to €0.9 million in Q3, marking an 80% quarter-on-quarter increase from €0.5 million in Q2.
This growth was substantially boosted by a newly secured exclusive US publisher partnership, which included a minor $750,000 investment from Raketech. Conversely, revenue from SubAffiliation remained flat at €1.9 million compared to Q2, while the Paid Publisher Network continued to contract, reflecting broader industry challenges in paid customer acquisition.
The quarter also saw the strategic completion of the Casumba asset sale. The consideration for the sale was €12 million, fair-valued at €7.2 million, payable over four years.
Raketech recognized a non-cash loss on disposal of approximately €10 million related to this transaction. Free cash flow for the period, which included discontinued operations and excluded earnouts, totaled €1.1 million, slightly lower due to tax settlements.
Management reiterated the company’s reinforced “platform-first” strategy, which prioritizes the further development of its AffiliationCloud platform, securing additional exclusive partnerships, and exercising disciplined capital allocation. This strategic pivot follows the results from Q2 2025, where the group previously reported a 54% revenue decline.
However, Core Affiliation Marketing (excluding Casumba) had shown early signs of stabilization with 5% quarter-on-quarter growth ahead of Q3.
Management indicated that preliminary data for October suggests slightly lower revenues from the overall Affiliation Marketing portfolio compared to Q3, though the positive momentum within the external organic network continues.
