Platform-based focus is seeing us through the paid-traffic issues; adjusted EBITDA is at €1.2m, and with the sale of Casumba, we are restructuring the portfolio. €6.2m ($7.1m) revenue from continued operations for Q3 2025 was reported by Raketech. 42% year-on-year decline reflected the exit of non-core assets and continued pressure on paid traffic channels.

Continuing operations adjusted EBITDA reached €1.2m. Broadly unchanged versus the prior year indicates cost control as the group narrows its focus to owned publishers and exclusive partnerships. Strengthened performance occurred within the Organic Publisher Network. Q3 revenue of €0.9m increased from Q2’s €0.5m. An 80% quarter-on-quarter rise was supported by a newly signed exclusive US publisher partnership tied to $750k minority investment.

Stable Sub-Affiliation Revenue and Ongoing Network Contraction

€1.9m SubAffiliation revenue stayed flat versus Q2. Paid Publisher Network contraction continued amid industry-wide challenges in paid acquisition. Free cash flow (before earnouts and including discontinued operations) reached €1.1m total. Period tax settlements caused a modestly lower amount. Management stated preliminary October data show Affiliation Marketing portfolio revenues are slightly lower versus Q3. Positive momentum continues in the external organic network.

The Casumba asset sale was completed during the quarter. €12m consideration (fair-valued at €7.2m) receives payment over four years. Raketech recognised c.€10m non-cash loss on disposal. “Platform-first” strategy received group reiteration. Exclusive partnerships prioritisation, AffiliationCloud further development and disciplined capital allocation continue. Management added cost-based resizing to a more focused operating model.

Raketech CEO Highlights Stronger Structure and Organic Growth Momentum

“Cleaner structure” and “growing momentum” in organic publishing characterise Q4 entry, CEO Johan Svensson said. Broadening footprint through additional exclusive deals while maintaining financial discipline remains the aim.

Q2 2025 brought Raketech a 54% revenue decline and a 52.3% adjusted EBITDA fall. US tipster/subscription assets divestment and continued paid traffic weakness got cited. Core Affiliation Marketing (excluding Casumba) achieved 5% quarter-on-quarter growth, signalling early stabilisation ahead of Q3.