New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (kr313.9m market cap, or US$32.4m). Reported Earnings • May 15
First quarter 2026 earnings released: EPS: €0.02 (vs €0.007 loss in 1Q 2025) First quarter 2026 results: EPS: €0.02 (up from €0.007 loss in 1Q 2025). Revenue: €12.3m (up 26% from 1Q 2025). Net income: €1.27m (up €1.80m from 1Q 2025). Profit margin: 10% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has fallen by 53% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 26
Full year 2025 earnings released: €0.10 loss per share (vs €0.63 loss in FY 2024) Full year 2025 results: €0.10 loss per share (improved from €0.63 loss in FY 2024). Revenue: €46.6m (down 6.1% from FY 2024). Net loss: €7.26m (loss narrowed 85% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 6 percentage points per year, which is a significant difference in performance. Announcement • Mar 25
Catena Media plc, Annual General Meeting, May 27, 2026 Catena Media plc, Annual General Meeting, May 27, 2026, at 09:00 Central European Standard Time. Location: the westin dragonara resort, Malta Recent Insider Transactions • Feb 22
Independent Non-Executive Director recently bought kr325k worth of stock On the 19th of February, Martin Zetterlund bought around 166k shares on-market at roughly kr1.97 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr498k. Insiders have collectively bought kr1.7m more in shares than they have sold in the last 12 months. New Risk • Feb 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr228.8m market cap, or US$25.7m). Announcement • Jan 17
Catena Media Launches MRKTPLAYS+ to Expand Strategic Partnerships in North American iGaming Catena Media announced a strategic evolution of its successful MRKTPLAYS subaffiliation platform, designed to meet market demand and deepen long-term partnerships across the regulated North American online casino and sports betting markets. The launch of MRKTPLAYS+ enhances Catena Media's existing subaffiliation model, introduced in 2025, by adding a modular partnership framework built to accelerate partner growth for publishers and adjacent digital businesses that have demonstrated product-market fit. Alongside standard campaign access, MRKTPLAYS+ will offer tailored marketing and operational support including content and marketing advisory services, as well as working capital solutions and minority equity participation - all in accordance with partner needs and maturity. The expanded offering will help high-potential partners scale more efficiently while strengthening long-term collaboration within Catena Media's partnership network. The MRKTPLAYS+ launch aligns with Catena Media's broader strategy of diversifying revenue streams, deepening strategic partnerships and building scalable platforms that support long-term value creation. The platform will be open to partners globally, with a core focus on North America. Announcement • Jan 09
Catena Media plc Announces Departure Of Non-Executive Director, Stephen Taylor-Matthews, Effective January 31, 2026 Catena Media plc announced that Stephen Taylor-Matthews, a member of Catena Media plc's board of directors, is to step down from his role as non-executive director effective January 31, 2026. Non-executive directors, including Stephen Taylor-Matthews, have supported strategic growth, particularly in search engine optimization, and have contributed to the recalibration of technology teams and internal product processes. The board of directors will continue with four non-executive directors until the next annual general meeting. Recent Insider Transactions • Dec 22
Independent Chairman of the Board recently bought kr498k worth of stock On the 18th of December, Erik Flinck bought around 302k shares on-market at roughly kr1.65 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Erik's only on-market trade for the last 12 months. Announcement • Nov 20
Catena Media plc to Report Fiscal Year 2025 Results on Feb 10, 2026 Catena Media plc announced that they will report fiscal year 2025 results on Feb 10, 2026 Reported Earnings • Nov 06
Third quarter 2025 earnings released: €0.19 loss per share (vs €0.55 loss in 3Q 2024) Third quarter 2025 results: €0.19 loss per share (improved from €0.55 loss in 3Q 2024). Revenue: €11.6m (up 8.9% from 3Q 2024). Net loss: €14.4m (loss narrowed 66% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. Announcement • Sep 20
Catena Media Launches MRKTPLAYS.com, A Next Generation Sub-Affiliation Platform Catena Media announced the launch of MRKTPLAYS.com, a new proprietary subaffiliation platform connecting affiliates to operators in a streamlined ecosystem. The platform gives affiliates the tools to expand their networks while enabling operators to extend their footprint in North America. Following a beta period with a select group of current affiliate partners, the website is now live and marks a significant milestone in Catena Media's strategy to deliver scalable, technology-driven growth across the North American online casino gaming and sports betting industry. Subaffiliation allows partners to leverage Catena Media's unique knowledge of the North American market to broaden their exposure to operators, thereby expanding their sector footprint and unlocking new revenue streams. MRKTPLAYS is designed to amplify partnerships and drive growth by giving affiliates the tools to build their own networks through a service featuring transparent commissions, reliable tracking and trusted support. MRKTPLAYS' fast data refresh rates and actionable insights empower affiliates to optimise performance and enable operators to extend their reach across Catena Media's network. Board Change • Jun 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Adam Krejcik is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • May 21
Chief Executive Officer recently bought kr363k worth of stock On the 15th of May, Manuel Stan bought around 212k shares on-market at roughly kr1.71 per share. This transaction increased Manuel's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Manuel's only on-market trade for the last 12 months. Announcement • May 21
Catena Media plc Appoints Søren Vilby as Member of Board of Directors Catena Media plc at its Annual General Meeting held on May 21, 2025 announced the appointment of Søren Vilby as a new member of the Board of Directors until the end of the next annual general meeting, in accordance with the Nomination Committee's proposal. Reported Earnings • May 15
First quarter 2025 earnings released: €0.01 loss per share (vs €0.029 loss in 1Q 2024) First quarter 2025 results: €0.01 loss per share (improved from €0.029 loss in 1Q 2024). Revenue: €9.81m (down 39% from 1Q 2024). Net loss: €531.0k (loss narrowed 76% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 10 percentage points per year, which is a significant difference in performance. Announcement • Apr 04
Dan Castillo to Leave Catena Media's Board of Directors, Effective April 3, 2025 Dan Castillo, a member of Catena Media plc's board of directors, has informed the company that he is stepping down from his role as non-executive director with immediate effect. The board will continue with five non-executive directors until the next annual general meeting, to be held 21 May 2025. Reported Earnings • Mar 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: €0.63 loss per share (further deteriorated from €0.37 loss in FY 2023). Revenue: €49.6m (down 35% from FY 2023). Net loss: €47.9m (loss widened 70% from FY 2023). Revenue missed analyst estimates by 63%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 1 percentage points per year. Announcement • Mar 20
Catena Media plc, Annual General Meeting, May 21, 2025 Catena Media plc, Annual General Meeting, May 21, 2025, at 08:00 Central European Standard Time. Location: ax the palace malta, triq il - kbira, tas-sliema, Malta New Risk • Feb 15
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr286.0m market cap, or US$26.7m). Board Change • Jan 22
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Adam Krejcik is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Martin Zetterlund was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Dec 18
Catena Media plc to Report Q3, 2025 Results on Nov 04, 2025 Catena Media plc announced that they will report Q3, 2025 results on Nov 04, 2025 Announcement • Dec 04
Catena Media Appoints Martin Zetterlund to Board of Directors Catena Media announced that its board of directors has appointed Martin Zetterlund as non-executive director to fill the seat vacated by Øystein Engebretsen. Martin Zetterlund is an experienced Stockholm-based entrepreneur, investor and executive with specialist expertise in cybersecurity and managed security services. Over a career spanning more than two decades, he co-founded Sentor Managed Security Services in 1998, serving in various leadership roles, including Head of Managed Security Services, until the company's acquisition by Accenture in 2021. He also held the role of SVP Advanced Projects at Distil Networks. The appointment will become effective once all necessary filings are made with the Malta Business Registry, and his term will run until the end of the next annual general meeting, in accordance with the Maltese Companies Act and Catena Media's articles of association. Announcement • Nov 20
Catena Media plc Announces Board Changes Catena Media plc announced the appointment of Stephen Taylor-Matthews as non-executive director and the departure of Øystein Engebretsen from the board of directors. Based in London, Stephen Taylor-Matthews is a tech entrepreneur, executive advisor and investor with over two decades of experience in online gaming, sports betting and data analytics. He is the founder of Polynate, an AI-first company delivering next-generation sports engagement solutions, and has worked at Underdog Fantasy, GoatGaming and Betgenius in previous roles. The appointment coincides with the departure from the board of Øystein Engebretsen, who has served as non-executive director since September 2018. Stephen Taylor-Matthews’ appointment will become effective once all necessary filings are made with the Malta Business Registry, and his term will run up until the end of the next annual general meeting, in accordance with the Maltese Companies Act and Catena Media’s articles of association. Board Change • Sep 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Adam Krejcik was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 18
Catena Media plc Announces Step Down of Theodore Bergqvist as Non-Executive Director Catena Media plc announced Theodore Bergqvist, a member of the company's board of directors since May 2019, has informed the company of his intention to step down from his role as non-executive director with immediate effect. Reported Earnings • Aug 18
Second quarter 2024 earnings released: €0.04 loss per share (vs €0.044 loss in 2Q 2023) Second quarter 2024 results: €0.04 loss per share (improved from €0.044 loss in 2Q 2023). Revenue: €12.8m (up 1.1% from 2Q 2023). Net loss: €2.70m (loss narrowed 22% from 2Q 2023). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Interactive Media and Services industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 45% per year whereas the company’s share price has fallen by 50% per year. Recent Insider Transactions • Jun 26
General Counsel & Company Secretary recently bought kr175k worth of stock On the 24th of June, Jan Tjernell bought around 35k shares on-market at roughly kr4.97 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr2.6m more in shares than they have sold in the last 12 months. Announcement • May 16
Catena Media plc Announces Change in Board of Directors The Annual General Meeting of Catena Media plc was held on 15 May 2024 approved Erik Flinck and Dan Castillo were elected as new members of the Board of Directors until the end of the next annual general meeting, in accordance with the Nomination Committee's proposal. Erik Flinck was also elected as Chairman of the Board of Directors until the end of the next annual general meeting, in accordance with the Nomination Committee's proposal. Announcement • Apr 05
Catena Media plc Announces CFO Changes Catena Media plc announced the appointment of Michael Gerrow as Group CFO. He will enter his new role on 15 April 2024, and will be part of the company's executive management team. With over 15 years of experience in the igaming, marketing and health sectors, he joined Catena Media'sMalta-based operations in 2020. In his current role as VP Finance, based in Miami, USA, Michael leads the company's financial planning and analysis function. Michael holds a bachelor's degree in commerce from Dalhousie University in Halifax, Canada, and professional accounting qualifications from CPA Canada and ACCA UK. Michael Gerrow succeeds Erik Edeen, who, as interim Group CFO, has focused on improving Catena Media's operating model and financial position. Erik will continue to support the company in a strategic advisory role. Reported Earnings • Apr 01
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: €0.37 loss per share (down from €0.46 profit in FY 2022). Revenue: €76.7m (down 22% from FY 2022). Net loss: €28.2m (down 184% from profit in FY 2022). Revenue missed analyst estimates by 29%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Interactive Media and Services industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. Announcement • Mar 22
Catena Media plc Announces Declination of Re-Election as Board Members Catena Media plc announced that Göran Blomberg, Esther Teixeira-Boucher and Austin Malcomb have declined re-election as board members. Announcement • Mar 06
Catena Media Appoints Manuel Stan as New CEO, Effective July 1, 2024 Catena Media's board of directors announced the appointment of Manuel Stan as CEO, an experienced business executive in the online sports betting and casino gaming industry. Manuel will lead Catena Media's North American and global market operations from Las Vegas, where he is based. He will assume his position on July 1, 2024. A veteran of almost 20 years in the industry, Manuel spent 16 years at Kindred Group, where he led marketing teams and served as Senior Vice President North America. At Kindred, Manuel led marketing teams for six years and played a core role in shaping the group's affiliate marketing programme. He also has experience of customer marketing, business development, financial planning and analysis, and corporate governance. Manuel holds a bachelor's degree in International Business and Economics from Bucharest University of Economic Studies and an Executive Management Programme Diploma from Yale School of Management. Announcement • Feb 27
Catena Media plc Announces CEO Changes Catena Media plc announced that Michael Daly will step down as CEO, following careful consideration and consultation with the board. Michael Daly's resignation takes immediate effect and Pierre Cadena VP Corporate Strategy, will assume the role of interim CEO. Michael Daly will remain available to Catena Media during a transition period. Catena Media intends to start the recruitment process for a new CEO immediately. Michael Daly has been with the company since 2018 and assumed the role as Catena Media's CEO in March 2021. Announcement • Feb 15
Catena Media plc to Report Fiscal Year 2023 Final Results on Mar 29, 2024 Catena Media plc announced that they will report fiscal year 2023 final results on Mar 29, 2024 Reported Earnings • Feb 13
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: €0.37 loss per share (down from €0.35 profit in FY 2022). Revenue: €76.7m (down 30% from FY 2022). Net loss: €28.2m (down 210% from profit in FY 2022). Revenue missed analyst estimates by 29%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Interactive Media and Services industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Announcement • Feb 13
Catena Media plc Provides Earnings Guidance for the Second Half 2024 and Full Year 2025 Catena Media plc provided earnings guidance for the second half 2024 and full year 2025. The company expects a resumption of organic growth in the second half of 2024.For the year 2025, company expected Double-digit organic growth in revenue at group level. New Risk • Jan 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (10% net profit margin). Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Market cap is less than US$100m (kr791.3m market cap, or US$75.7m). Announcement • Dec 24
Catena Media plc, Annual General Meeting, May 15, 2024 Catena Media plc, Annual General Meeting, May 15, 2024. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr12.46, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 21x in the Interactive Media and Services industry in Europe. Total loss to shareholders of 53% over the past three years. Buying Opportunity • Dec 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 43%. The fair value is estimated to be kr14.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 297% in the next 2 years. Announcement • Nov 30
Catena Media plc Appoints Sean Hurley to the Board of Directors Catena Media plc board of directors announces the appointment of Sean Hurley as non-executive director to fill the seat vacated in August by Per Widerström. Sean's appointment to the board of directors will become effective once all necessary filings are made with the Malta Business Registry, and his term will run up until the end of the next annual general meeting, in accordance with the Maltese Companies Act and Catena Media's articles of association. Based in the US, Sean Hurley is an executive, advisor and angel investor with more than 13 years' experience in the online sports betting, casino and social gaming industry, where he has held senior positions in the business-to-business (B2B), affiliate and business-to-consumer (B2C) segments. Recent Insider Transactions • Nov 26
Independent Chairman recently bought kr374k worth of stock On the 21st of November, Goran Blomberg bought around 30k shares on-market at roughly kr12.47 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Goran has been a buyer over the last 12 months, purchasing a net total of kr2.0m worth in shares. Announcement • Nov 24
Catena Media plc to Report Fiscal Year 2022 Results on Mar 30, 2024 Catena Media plc announced that they will report fiscal year 2022 results on Mar 30, 2024 Reported Earnings • Nov 24
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €15.9m (down 51% from 3Q 2022). Net loss: €1.70m (loss narrowed 70% from 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Interactive Media and Services industry in Sweden. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Buying Opportunity • Sep 13
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be kr25.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company has become profitable. Recent Insider Transactions • Aug 25
Independent Chairman recently bought kr795k worth of stock On the 22nd of August, Goran Blomberg bought around 50k shares on-market at roughly kr15.90 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Goran's only on-market trade for the last 12 months. Reported Earnings • Aug 23
Second quarter 2023 earnings released: €0.025 loss per share (vs €0.014 loss in 2Q 2022) Second quarter 2023 results: €0.025 loss per share (further deteriorated from €0.014 loss in 2Q 2022). Revenue: €16.9m (down 16% from 2Q 2022). Net loss: €1.97m (loss widened 97% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to kr16.24, the stock trades at a trailing P/E ratio of 5.4x. Average forward P/E is 16x in the Interactive Media and Services industry in Sweden. Total loss to shareholders of 52% over the past three years. Announcement • Aug 09
Moneta Communications Limited completed the acquisition of UK and Australian online sports betting brands of Catena Media plc (OM:CTM). Moneta Communications Limited signed an agreement to acquire UK and Australian online sports betting brands of Catena Media plc (OM:CTM) for €6 million on August 3, 2023. Under the terms of agreement, €5.8 million of the purchase price will be paid in cash on closing and €0.2 million will be paid within 75 days of closing. UK and Australian online sports betting brands of Catena comprises sports betting brands Squawka and GG.co.uk. The asset is located in Australia. The businesses generated combined revenue in the 12 months to date of approximately €4.5 million and EBITDA of about €0.9 million. The sale will reduce the group’s cost base by an estimated €2.8 million on an annualised basis. These savings will be realised directly on closing. The transaction, which is expected to close in Q3 2023. Sale proceeds will be used primarily to repay debt, thereby reducing the group’s leverage ratio.
Moneta Communications Limited completed the acquisition of UK and Australian online sports betting brands of Catena Media plc (OM:CTM) on August 8, 2023. The purchase is funded with the recently raised debt of almost €11 million from Thin Cats. Announcement • Aug 08
Per Widerström to Leave Catena Media's Board of Directors Catena Media non-executive director Per Widerström is to step down from the board of directors after taking up a new role as CEO of 888 Holdings. Widerström, who was elected to the board in May 2019, leaves Catena Media's board with immediate effect. The board of directors will continue with six members until the 2024 annual general meeting. Announcement • Aug 04
Moneta Communications Limited signed an agreement to acquire UK and Australian online sports betting brands of Catena from Catena Media plc (OM:CTM) for €6 million. Moneta Communications Limited signed an agreement to acquire UK and Australian online sports betting brands of Catena from Catena Media plc (OM:CTM) for €6 million on August 3, 2023.The transaction, which is expected to close in Q3 2023. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr23.44, the stock trades at a trailing P/E ratio of 8.1x. Average forward P/E is 18x in the Interactive Media and Services industry in Sweden. Total loss to shareholders of 1.9% over the past three years. Announcement • Jun 20
Catena Media Prepares for North Carolina Online Sports Betting Launch in 2024 Catena Media has advanced its preparations for the launch of online sports betting in North Carolina after the US state formally approved the start of regulated sports wagering next year. The new law allows online sports betting to begin as early as 8 January next year or as late as mid-June. The NCLC will determine the exact timing. Catena Media is well positioned for the upcoming launch through its diverse portfolio of affiliate sites, including popular national brands such as Lineups and LegalSportsReport. The group has also engaged in media partnerships to fully capitalise on the sports betting opportunity in North Carolina, in line with Catena Media’s well-established launch model. Recent Insider Transactions • May 28
Executive Officer recently sold kr230k worth of stock On the 23rd of May, Peter Messner sold around 10k shares on-market at roughly kr23.01 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr21.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Interactive Media and Services industry in Europe. Negligible returns to shareholders over past three years. Announcement • May 06
Catena Media plc Appoints Erik Edeen as Interim CFO, effective 22 May 2023 Catena Media plc announced the appointment of Erik Edeen as interim CFO, effective 22 May 2023. He will succeed Peter Messner, whose departure was announced in February and who has held the position since April 2020. After a handover period, Peter Messner will leave the company in early June. Erik Edeen has over 16 years of experience from leading roles within financial management in private and public corporations, among others ICA Gruppen AB and Investor AB. He previously served as Catena Media's interim CFO in 2019-2020. Most recently, Erik has worked as a strategic advisor to a global media corporation. He holds a Master of Business and Economics with a major in Financial Accounting from Uppsala University. Announcement • Feb 09
Catena Media plc Announces Resignation of Peter Messner as Chief Financial Officer Catena Media plc announced that Peter Messner is stepping down as Chief Financial Officer. A process for recruiting a new CFO will be initiated. Peter Messner will hand over within six months before pursuing his career outside the sports betting and casino industry. Announcement • Feb 03
Better Collective A/S acquired an unknown minority stake in Catena Media plc. Better Collective A/S acquired an unknown minority stake in Catena Media plc on February 1, 2023.Better Collective A/S completed the acquisition of an unknown minority stake in Catena Media plc on February 1, 2023. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr32.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Interactive Media and Services industry in Sweden. Total loss to shareholders of 4.7% over the past three years. Announcement • Feb 01
Innovation Labs Limited, a subsidiary of Gaming Innovation Group Inc. (OB : GIG), completed the acquisition of AskGamblers from Catena Media plc (OM:CTM) for €45 million. Gaming Innovation Group Inc. (OB : GIG) agreed to acquire AskGamblers from Catena Media plc (OM:CTM) for €45 million on December 15, 2022. GiG will pay an initial €20m upon the closing of the deal, which will be followed by a €10m payment a year after closing. The remaining balance of €15m will be paid 24 months after closing. Alongside Askgamblers.com, GiG will acquire Johnslots.com and Newcasinos.com. GiG will finance the initial consideration with a combination of cash, a revolving credit facility (RCF) and a share issue. Existing shareholders have already agreed to the share issue, which secures funding for the transaction.The transaction is expected to be completed in Q1 2023.Innovation Labs Limited, a subsidiary of Gaming Innovation Group Inc. (OB : GIG), completed the acquisition of AskGamblers from Catena Media plc (OM:CTM) for €45 million on January 31, 2023. The transaction include the acquisition of Catena Publishing Ltd (Malta) and Catena Media D.O.O. Beograd (Serbia). The first tranche consideration payment includes adjustments of approximately €2.3 million for the purchase price to be on a cash and debt-free basis. The outstanding consideration will be paid in two tranches, with €10 million due on 31 January 2024 and the remaining €15 million on 31 January 2025. Announcement • Jan 19
Catena Media plc Provides Group Financial Guidance for the Fourth Quarter of 2022 Catena Media plc provided group financial guidance for the fourth quarter of 2022. The group projects total revenue from continuing operations of EUR 27.4 million (EUR 23.8 million), a 15% increase year-on-year. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 36% share price gain to kr26.47, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Interactive Media and Services industry in Sweden. Total loss to shareholders of 25% over the past three years. Announcement • Jan 10
Catena Media Appoints Carnegie Investment Bank as Financial Adviser Catena Media plc (OM:CTM) has mandated Carnegie Investment Bank AB (publ) as financial adviser to assist the company in assessing strategic options as part of conversations with third parties that have shown interest in acquiring certain assets, including all the remaining assets of the group. As communicated in the strategic review that was announced in May 2022 and expanded in August 2022, the group continues to streamline the business to focus on the fast-growing, regulated North American market. As announced on December 15, 2022, third parties have shown interest in acquiring other assets as part of this process, and the group continues to evaluate the divestment of such. During these discussions, third parties have also shown interest in acquiring all the remaining assets of the group in a strategic transaction or through a public tender offer for the group. So far, the board of directors of Catena Media has received no firm or indicative bids for the group or any of its assets. Announcement • Aug 30
Catena Media plc to Report Fiscal Year 2022 Results on Mar 30, 2023 Catena Media plc announced that they will report fiscal year 2022 results at 3:00 PM, Central European Standard Time on Mar 30, 2023 Reported Earnings • Aug 23
Second quarter 2022 earnings released: EPS: €0.01 (vs €0.085 in 2Q 2021) Second quarter 2022 results: EPS: €0.01 (down from €0.085 in 2Q 2021). Revenue: €28.9m (down 4.8% from 2Q 2021). Net income: €432.0k (down 93% from 2Q 2021). Profit margin: 1.5% (down from 20% in 2Q 2021). Over the next year, revenue is forecast to grow 8.3%, compared to a 29% growth forecast for the Interactive Media and Services industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Director Oystein Engebretsen is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: €0.095 loss per share (down from €0.20 profit in FY 2020). Revenue: €136.1m (up 28% from FY 2020). Net loss: €7.17m (down 157% from profit in FY 2020). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 900%. Over the next year, revenue is forecast to grow 16%, compared to a 34% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Recent Insider Transactions Derivative • Mar 11
Independent Chairman exercised options to buy kr5.5m worth of stock. On the 4th of March, Goran Blomberg exercised options to buy 122k shares at a strike price of around kr18.90, costing a total of kr2.3m. This transaction amounted to 117% of their direct individual holding at the time of the trade. Since March 2021, Goran's direct individual holding has increased from 66.00k shares to 104.00k. Company insiders have collectively bought kr6.6m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 25
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: €0.10 loss per share (down from €0.20 profit in FY 2020). Revenue: €136.1m (up 28% from FY 2020). Net loss: €7.17m (down 157% from profit in FY 2020). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 900%. Over the next year, revenue is forecast to grow 12%, compared to a 34% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.