The latest interim report from Catena Media for the period January to September 2024 highlights significant challenges and strategic shifts. The company experienced a 33% decline in revenue during Q3 2024, primarily due to underperformance in online sports betting and changes in media partnerships. Despite this, the company managed to double its adjusted EBITDA quarter-over-quarter, attributed to cost reductions and a focus on core products.

The company has taken several strategic steps to address its challenges. It has streamlined its content production and marketing teams, leading to a reduction of 29 positions and an annual cost saving of EUR 2.2m. Furthermore, Catena Media has restructured its executive management team, with all five members being new in their roles as of January 2025.

Despite the revenue decline, Catena Media has maintained stable casino revenue in North America, with slight growth when excluding prior quarter adjustments. The company is also expanding its presence in the Hispanic market with the launch of Spanish-language versions of its Bonus.com platform.

In conclusion, while Catena Media is facing revenue challenges, the improvement in EBITDA margins and strategic restructuring indicate a potential for future profitability. Investors should closely monitor the company's ability to execute its strategy and return to revenue growth.