Catena Media confirms 25% workforce cut, Malta largely spared

Catena Media, the affiliate marketing firm, has confirmed that a recent round of layoffs affected 25 per cent of its workforce. However, the company stated that Malta – where it maintains its primary hub – was “the least impacted location.”

Responding to iGamingCapital.mt, a Catena Media spokesperson said: “While the location was not a primary objective of this exercise, Malta was the least impacted location due to our long-term focus to build on the existing workforce and culture in our hub locations with Malta being our primary one.”

The 25 per cent reduction in headcount was part of a broader efficiency drive following the transition to Catena’s new operating model. The company declined to disclose location-specific figures, citing stock market listing rules, but reiterated that further details can be found in its most recent financial report.

According to Catena Media’s full-year financial results for 2024, the company has been navigating a turbulent period marked by falling revenues and major structural changes. Revenues fell by 35 per cent year-on-year to €49.6 million, with Q4 revenue alone declining 30 per cent to €10.2 million, compared to €14.5 million in the same period of 2023.

North America remains Catena Media’s dominant market, contributing 88 per cent of total revenue. However, it has also been the main source of recent challenges, triggering cost-cutting initiatives and operational restructuring.

CEO Manuel Stan noted that despite the revenue decline, cost-saving measures – including the streamlining of content production and marketing teams – had a notable effect.

“These measures reduced the cost base by 33 percent from Q4 2023, lifting our adjusted EBITDA margin from five per cent in Q2 to 15 percent in Q4,” he said.

The company estimates that these changes will generate annual savings of around €2.2 million.