Catena Media experienced a significant revenue decrease of 28% in the third quarter of 2023, reaching €15.9 million (equivalent to $17.4 million), considering their discontinued business segments. Excluding these discontinued operations, revenue from ongoing business activities actually declined by 28% compared to the second quarter of 2022.
A positive aspect was the North American market, representing a considerable 84% of Catena’s overall revenue for the quarter. Regarding North America, Catena was particularly satisfied to announce that their EBITDA margin in this region held steady at a strong 44%.
Despite the revenue reduction, Catena Media stressed its solid financial standing, emphasizing a net cash amount of €21.2 million. Looking forward, the company projects a substantial cash influx of €46.6 million from asset sales between the present and 2025.
Eighteen months ago, we began a transformation of Catena Media,” stated Chief Executive Michael Daly, reviewing the firm’s latest fiscal results. “We undertook a critical self-assessment, optimized processes, and reemerged as a more agile and lucrative entity.” He highlighted their robust financial position and preparedness to allocate resources towards advanced technologies, especially within their key North American sector.
Daly provided these observations and additional perspectives in the CEO Special featured in Gaming America’s September/October edition. He offered a peek into his professional path, the assets he contributes to Catena Media, and his strategy for guiding the company toward future prosperity. For a comprehensive understanding of Daly’s viewpoints and his roadmap for Catena Media, explore the complete interview.
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