Raketech Publishes Q3 Results, Hails Streamlining Efforts

Leading iGaming affiliate Raketech has disclosed its financial results for the third quarter of the year. The company reported mostly stable results although its revenue declined amid its ongoing streamlining measures.

Raketech’s EBITDA Remained Stable

Raketech reported EUR 6.2 million ($7.2 million) in revenue from continued operations, marking a decrease from EUR 10.7 million in the prior-year period. Adjusted EBITDA from continuing operations and reported EBITDA, however, remained mostly stable at EUR 1.2 million ($1.4) and EUR 1.1 million ($1.3 million), respectively. The company attributed this to the stability of its business.

The company noted that Affiliation Marketing remained strong and continued to be a major contributor. The Affiliation Marketing portfolio remained largely stable.

Subaffiliation revenue reached EUR 1.9 million ($2.2 million), which was consistent with the previous quarter. The Organic Publisher Network delivered EUR 0.9 million ($1 million), marking a significant quarter-on-quarter increase. The Paid Publisher Network, however, experienced a decline, which was consistent with current market dynamics.

The company reported cashflow of EUR 1.1 million ($1.3 MILLION) in Q3and noted that this metric had been affected by certain tax payments.

The Streamlining Efforts Continue

In Q3, Raketech expanded its partnership with a US Sports betting and casino publisher within its Organic Publisher Network and AffiliationCloud. This arrangement included a $750K minority investment and has already become a key growth driver for Raketech.

In the meantime, Raketech continued to streamline its business in order to achieve a robust cost structure while remaining flexible. Among other things, the company sold its Casumba assets for a total of EUR 12 million ($13.9 million).

While Raketech recognized a non-cash loss of approximately EUR 10 million ($11.6 million) due to the sale, it said that this will not affect its cash flow or underlying operational performance.

Raketech Bets on Clear Focus and Stability

Raketech’s chief executive officer, Johan Svensson, commented on the performance in Q3, calling the quarter “another step forward” in the execution of the company’s platform-first strategy. He said that Raketech remains committed to maintaining clear focus and priorities.

With a cleaner structure, stronger partnerships, and growing momentum in our Organic Publisher Network, Raketech enters the final quarter of the year with a sharper focus and enhanced flexibility to deliver on our platform-first strategy.

Johan Svensson, CEO, Raketech

Svensson added that Raketech’s goals remain to strengthen the AffiliationCloud, while maintaining disciplined capital allocation and driving value for the company’s partners, shareholders, and employees.