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Raketech has reported Q3 2025 revenue of €6.2m, down 42% year-on-year, reflecting continued headwinds in paid traffic and the sale of non-core assets.
Despite the steep revenue drop, adjusted EBITDA remained steady at €1.2m, signalling effective cost control and a sharper focus on owned publishing and exclusive partnerships.
Platform strategy drives stability
Raketech’s shift toward a platform-led model is beginning to show resilience.
Performance within the company’s Organic Publisher Network rose sharply, generating €0.9m in Q3 compared with €0.5m in Q2, an 80% increase quarter-on-quarter. The growth was supported by a new exclusive US publisher partnership linked to a $750,000 minority investment.
SubAffiliation revenue held steady at €1.9m, while the Paid Publisher Network continued to contract in line with broader market trends affecting paid acquisition.
Free cash flow, including discontinued operations but before earnouts, reached €1.1m, slightly lower due to tax settlements during the period. Management noted that preliminary October data show a small decline in Affiliation Marketing revenue compared to Q3, but momentum remains positive across the external organic network.
Casumba sale marks a structural reset
The completion of the Casumba divestment reflects Raketech’s ongoing portfolio realignment.
The €12m sale of Casumba (fair-valued at €7.2m) closed during the quarter, resulting in a €10m non-cash loss on disposal. The proceeds will be paid over four years. The sale marks the end of a significant restructuring phase, freeing resources to focus on scalable, recurring revenue streams.
Leaner operations, focused direction
Raketech is entering Q4 with a simplified structure and tighter capital discipline.
CEO Johan Svensson said the company is now operating with a “cleaner structure” and “growing momentum” in organic publishing, backed by new exclusive deals and platform innovation through AffiliationCloud.
Raketech’s transformation comes after a difficult first half of the year, when Q2 results showed a 54% revenue decline and a 52.3% fall in adjusted EBITDA due to divestments and weaker paid traffic. Still, core Affiliation Marketing (excluding Casumba) grew 5% quarter-on-quarter, indicating stabilisation ahead of Q3.
As Raketech moves into the final stretch of 2025, the question now is whether its streamlined platform model can turn stability into sustained growth.
Source: Gambling Insider
