Catena Media shares were down by 25% today as revenue from continuing operations in Q2 was EUR 9.5m (9.6), a decrease of 1%.

Revenue in North America increased by 6 percent to EUR 9.2m (8.7), equivalent to 97 percent (90) of group revenue from continuing operations. New depositing customers (NDCs) from continuing operations totalled 24,781 (20,229), an increase of 23%.

CEO Manuel Stan said, in Q2, we reported revenue of EUR 9.5m, broadly in line with the same quarter last year, and adjusted EBITDA of EUR 1.2m, a decrease of EUR 0.2m from the comparable quarter.

hese results reflect industry-wide headwinds in organic search and mark a pause after several quarters of strong operating performance. The quarterly revenue decline underlines a structural reality facing our industry: traditional affiliation remains closely tied to the shifting dynamics of organic search.

The financial volatility that arises from the unpredictability of a search-dependent business model led Catena Media’s board and management earlier this year to begin exploring how to reshape the business towards a model that reduces exposure to any single external factor.

This process will see the company evolve beyond traditional affiliation and lead generation into a technical infrastructure platform provider that brings together industry players in a single ecosystem.

Following shareholder authorisation at the recent EGM, we also intend to launch a share buyback programme of up to 5.98 percent of outstanding shares. This is solely to meet obligations under our long-term incentive programme and should not be read as a broader capital return or capital allocation signal.