Raketech, the iGaming performance marketing partner, reported Q4 2024 revenues of EUR 12.3 million, a decrease from EUR 22.8 million in Q4 2023.
Adjusted EBITDA for the quarter was EUR 3.2 million, down from EUR 6.0 million the previous year. The company recognized a non-cash impairment charge of EUR 48.5 million, primarily related to the reduction in intangible book value of non-core assets acquired pre-IPO.
Despite these challenges, Raketech achieved a 29% reduction in operating costs (excluding publisher costs) compared to Q1 2024 and established four strategic partnerships, now accounting for approximately 50% of its affiliation marketing revenue.
Raketech CEO, Johan Svensson highlighted:
In Q4 2024, we recorded revenues of EUR 12.3 million, compared to a strong Q4 2023 of EUR 22.8 million, which included EUR 1.3 million from our divested advisory business. Adjusted EBITDA for the quarter stood at EUR 3.2 million (vs. EUR 6.0 million in Q4 2023), while EBITDA amounted to EUR 3.0 million (EUR 6.0 million), in line with the trading update issued on February 4, 2025. Following a challenging year, we have conducted a thorough review of our Affiliation Marketing assets to ensure they align with Raketech’s core commercial and operational strengths. This strategic focus will allow us to enhance key partnerships, secure exclusive agreements with operators, and drive further development of AffiliationCloud.
- Q4 2024 revenues reached EUR 12.3 million, compared to EUR 22.8 million in Q4 2023 (including EUR 1.3 million from the divested advisory business).
- Adjusted EBITDA for Q4 2024 was EUR 3.2 million (vs. EUR 6.0 million in Q4 2023), with EBITDA at EUR 3.0 million (EUR 6.0 million), aligning with the February 4, 2025, trading update.
- Free cash flow before earnouts for FY 2024 totaled EUR 14.7 million, matching EBITDA, ensuring the company meets its upcoming EUR 8.0 million earnout commitment in H1 2025, with EUR 3.0 million already paid in January 2025.
- The remaining earnout liability of EUR 20.6 million (payable post-H1 2025) can be settled at Raketech’s discretion anytime until September 2026.
- On February 4, 2025, Raketech announced a non-cash impairment charge of EUR 48.5 million in Q4 2024, primarily reflecting a reduction in the intangible book value of non-core assets acquired before the company’s IPO.
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