Catena Media reported revenue of $47.5 million for the first quarter of 2022, up 11% from the same period last year.
Revenue in North America increased by 32% compared to the first quarter of 2021 to 29.5 million euros, representing 65% of the group’s revenue.
Adjusted EBITDA increased 2% to 25.6 million euros, with an adjusted EBITDA margin of 57%. New depositor customers (CNDs) totaled 171,918 for the period, up 9% year-on-year.
Earnings per share were 0.28 euros before dilution and 0.19 euros after dilution, while cash and cash equivalents totaled 26.7 million euros as at 31 March 2022.
As noted by the group, highlights for the period included a historic revenue and profit record, and the ninth successive quarterly increase in adjusted EBITDA. And after New York and Louisiana legalized online sports betting in January, the company’s sports revenue more than doubled in North America, a key area of focus for Catena Media for the period and indeed for the future.
“Globally, the main focus was on North America and the opening of legalized online sports betting in Louisiana and New York in January,” said Michael Daly, CEO of Catena Media.
“We’ve made great strides in both states, with New York in particular exceeding expectations behind higher advertising expenses for a US state launch and fluctuating cost-per-acquisition (CPA) rates. New York is now our largest North market. -American”.
Daly added: “Following our solid start to 2022, we are well positioned for a busy year ahead and to continue to meet our financial targets. We are investing heavily in people to prepare for future market launches and growth.”
“Our people-focused culture and innovative strength equip us to continue capturing the exciting opportunity in North America while remaining adaptable and responsive to global market conditions,” concluded Daly.