The Raketech Journal

Quote from Johan Svensson, CEO “Revenues in Q3 2024 totalled EUR 12.9 million, down 39.9% compared to a very strong Q3 2023 (EUR 21.5 million, of which EUR 0.4 million from the divested advisory business), with adjusted EBITDA of EUR 3.1 million (EUR 5.6 million) and EBITDA of EUR 3.0 million (EUR 5.6 million) reflecting lower sales in all business areas. We have continued our evaluation of all products and business areas to better position ourselves for sustainable, long-term growth and operational efficiency. These initiatives have resulted in the successful sale of ATS Advisory on July 31st and the formation of two strategic partnerships within Affiliation Marketing, as well as realizing cost savings following the review of our operating model.”

Quote from Johan Svensson, CEO “Revenues in Q2 of 2024 totalled EUR 17.0 million (EUR 17.6 million). Strong growth in sub-affiliation were offset by a decline in affiliation marketing. EBITDA was EUR 4.4 million compared to adjusted EBITDA of EUR 5.5 million of last year, in line with expectations. The impact of the Google update was most evident for our Casumba assets in Q2, and we have acted swiftly by mobilizing resources from across the company to strengthen the team. A comprehensive business audit was finalized in connection with the end of the Google update. This has led to several initiatives around enhanced content focused on a broader audience, technical product improvements, SEO optimization and full focus on user experience. We have made progress in stabilizing performance, albeit at a reduced level, and we feel confident that our actions will return the assets to growth.