STRATEGY
An agile operating model
A strategic reset has transformed our business, sharpening the strategic focus and establishing a more flexible operating model founded on three core pillars: People, Product and Profit. Delivery in these three areas has improved steadily thanks to renewed organisational clarity, more consistent execution and stronger margins. Today, Catena Media has a profitable growth trajectory. Read more about our strategy and operating model in the 2025 annual report.
The thought leader in the media affiliation space
Catena Media aims to be the data- and technology-driven leader in online affiliate marketing for sports betting and casino gaming in North America. Achieving this vision involves developing and implementing sophisticated technological solutions that keep us one step ahead in a dynamic and complex operating environment. Adapting to an era of changing market dynamics remains a key strategic priority to be achieved through the strategic operating model and our clear focus on the three pillars of People, Product and Profit.
OUR STRATEGY
We build our strategy on three foundational pillars introduced by the management team: People, Product and Profit. These interconnected areas provide the framework for our ability to grow, adapt and succeed in our space.
PEOPLE
As an affiliate marketing company, we rely on our people and their talents to drive business success. Our employees are the creative source for delivering high quality user experiences. A comprehensive rightsizing process has created a nimble organisation that is well placed to maximise the potential of our brands. An energetic, performance-driven culture focuses on excellence at every link in the chain, powered by product squads that use agile methodologies to empower people to own their roles and actively contribute to our strategic goals.
PRODUCT
Our top-tier brands are our key differentiator and unique selling point. The organisation is geared to driving focus on these key products at all times. Each brand has a clear ownership model with dedicated cross-functional teams responsible for its success. Today, we operate six top-tier brands across North America. Supporting these are three regional US brands addressing our three largest state markets – New Jersey, Pennsylvania and Michigan. Enhanced tracking and performance measurement frameworks ensure that all initiatives are geared to delivering tangible business results.
PROFIT
Profitability is our oxygen, fuelling our ability to differentiate and scale. In the last couple of years we have taken strong action to reverse a profitability decline. Measures included a significant organisational rightsizing that today gives us a firm platform for more agile execution and enhanced team cohesion. While pursuing cost efficiencies, we have also steadily reduced the group's debt burden. Together, the measures taken helped drive profitability improvements in the second half of 2025 that saw the adjusted EBITDA margin reach 30 percent at year-end – double the level from the prior year.
Our lean and flat organisation is the key driver of our product-first strategy. We have reintroduced objectives and key results (OKRs) to set and track goals across the business and also simplified our geographic footprint around two hubs in Malta and Miami – a step that reduced complexity and improved collaboration. Together with our teams' data-driven approach and deep technology focus, these aspects help position us to be the industry thought leader and to deliver high-quality leads to our partners through an exceptional service to users.
CORE INITIATIVES
Diversify revenue streams
- Diversify revenue streams by building first-party customer data, subaffiliation capability and a richer product customer experience
Strengthen market position
- Strengthen our market position in North America by launching innovative strategies and partnerships in regulated regions
Key products
- Develop and drive our key products forward to create a solid platform for sustainable revenue growth
Financial health
- Maintain a close focus on financial health and use the proceeds from prior divestments for continued debt reduction
New operating model
- Further embed the new operating model to deepen the focus on core products and drive growth while promoting operational alignment