March 11, 2025
Raketech Group Holding PLC, a prominent iGaming performance marketing company, has reported a significant decline in its financial performance for the fourth quarter of 2024. The company’s revenues fell to €12.3 million, a 45.9% decrease compared to €22.8 million in the same period the previous year. Adjusted EBITDA also saw a decline, reaching €3.2 million from €6.0 million year-on-year.
The downturn has been attributed primarily to underperformance in the Casumba assets and increased local taxes in Sweden, which negatively impacted revenue share contracts. Additionally, the U.S. tipster subscription business did not meet expected outcomes, prompting a strategic review of this vertical.
In response to these challenges, Raketech has initiated several strategic measures:
- Strategic Partnerships: The company has formed four new partnerships in the affiliation marketing vertical, aiming to enhance profitability and long-term growth. Approximately 50% of Raketech’s affiliation marketing revenue is now derived from these collaborations.
- AffiliationCloud Development: Raketech is advancing its in-house developed sub-affiliation platform, AffiliationCloud, which achieved a 74% organic growth compared to Q4 of the previous year. This platform is expected to drive future scalability and efficiency.
- Operational Efficiency: The company has implemented cost-saving measures, achieving a 29% reduction in total costs (excluding publisher costs) in Q4 2024 compared to the first quarter of the same year.
Looking ahead, Raketech acknowledges the challenges posed by market conditions but remains committed to its strategic initiatives. The company plans to deliver a comprehensive strategic update in its Q1 2025 report, focusing on leveraging its partnerships, technological advancements, and operational efficiencies to navigate the current landscape and drive future growth.
Despite the recent setbacks, Raketech’s proactive approach to restructuring and innovation reflects its dedication to overcoming challenges and positioning itself for sustainable success in the evolving iGaming industry.
