Catena Media announces major job cuts following weak Q1 results
Catena Media, a Malta-based performance marketing company focused on the online sports betting and casino sectors, is taking major steps to cut costs after a sharp decline in its Q1 2025 financial results, reports Next.io.
The company announced it will reduce its workforce by 25%, cutting more than 50 jobs across full-time roles and contractors. In addition to layoffs, it will also eliminate a layer of management to streamline operations. Catena Media is also suspending interest payments on its hybrid capital security and has no immediate plans to redeem the instrument.
The announcement followed the publication of Catena Media’s preliminary financial results for the first quarter of 2025.
While Catena Media operates globally, the largest portion of its revenue continues to come from North America, which reached €8.8 million in Q1 2025.
These actions come in response to a sharp decline in profitability. Q1 revenue fell to €9.8 million, a 38.8% year-on-year decrease and a 3.9% drop from the previous quarter.Adjusted EBITDA dropped more than 50% to €0.9 million. Profits were lower because more revenue came from lower-profit sub-affiliates and personnel costs went up.
The company aims to save €4.5 to €5 million annually through staff reductions and management restructuring. An additional €0.8 million in savings is expected from ongoing technical changes.
