Catena Media has announced its Q4 2022 results, showing a 15% year-over-year revenue incline to $29.1m. This came with a 35% adjusted EBITDA margin in its continuing global operations, as well as a 0.90 leverage ratio.
For its North American operations, it reported a 31% annual revenue increase to $22.8m, of which sports revenue made up $12m (soaring by 81%). The strong performance of its sports section was partially attributed to the successful launch of online sports betting in Maryland, as well as preparations for Ohio’s launch on New Year’s Day 2023.
It also signed a major media partnership with NJ.com, a news outlet in The Garden State that allowed Catena to spread its market outreach and generate new streams of revenue.
Catena also reported a 9% EBITDA rise in its North American operations to reach $12.9m – this represented a local margin growth of 57%. A steady revenue growth of 15% from continuing operations, was reported – with North America heralded as the main growth driver.
Its adjusted EBITDA in North America from continuing operations stood at $13m which held the same 45% margin as last year. This was a demonstration of significantly lower costs outside of its other global operations, such as Japan where lower annual revenue was reported amidst the ongoing impacts of Covid-19 restrictions and a historic weakness of the yen.
Its European operations held steadfast. The sports betting media company agreed to a $47.8m sale of the Serbian-based AskGamblers, which contributed to its strong Q4 2022 performance. Higher revenue was recorded from core European markets such as Italy and the UK, driven by a strong World Cup.
