Revenue fell from €19 million to €9.8 million, while adjusted EBITDA dropped from €5.1 million to €2.4 million.
Raketech CEO Johan Svensson says the company made “good progress” in restructuring its business during the first quarter, despite reporting a significant year-on-year revenue decline.
Revenue fell from €19 million to €9.8 million, while adjusted EBITDA dropped from €5.1 million to €2.4 million.
The affiliate marketing segment generated €6 million in Q1, although performance from Casumba – one of Raketech’s key assets – continued to decline.
The company is placing renewed focus on its “platform-first” strategy, with AffiliationCloud at the heart of its operations.
“Through AffiliationCloud, we integrate assets managed in-house and via entrepreneurial partnerships (affiliation marketing), along with our paid and organic publisher network (SubAffiliation), into a single, unified system,” Raketech explained.
“This structure supports more efficient operations, better use of data and greater predictability across all areas.”
Svensson noted that results were affected by “continued low performance” from Casumba and “ongoing challenges” within the SubAffiliation model. However, he pointed out that other casino and sports assets performed steadily or showed improvement compared to Q4 2024, once seasonal effects were considered.
In other iGaming finance news, BetMGM has reported a strong Q1, with revenue hitting $657M.