Catena Media Reports 29% Drop in Q3 Revenue and Cuts 2026 Growth Targets
Catena Media plc (OMXSTO:CTM) reported preliminary third-quarter 2026 revenue of EUR 8.3 million, a 29% decline from EUR 11.6 million in the same period a year earlier. Adjusted EBITDA fell to EUR 0.7 million from EUR 2.9 million, which included a EUR 0.7 million bonus accrual reversal. As a result, the online lead-generation company dropped its 2026 goal of achieving double-digit organic growth in group revenue and adjusted EBITDA. It also expects to record a non-cash impairment charge of EUR 30 million to EUR 35 million on intangible assets for the quarter.
The revenue decline highlights shifting dynamics in online search and digital marketing. Generative search tools altered online traffic patterns, lowering user visits across the affiliate marketing sector. At the same time, traditional search engine rankings dropped and betting operators reduced marketing expenditures during a seasonal summer lull. Because Catena Media acquires over 90% of new customers through cost-per-acquisition contracts, the firm lacks recurring revenue to shield against traffic downturns.
To address these search headwinds, the company is attempting to diversify its earnings into new areas such as prediction markets and its upcoming TraffiqX platform scheduled for launch in the first quarter of 2027. Investors will get complete detailed financial numbers when Catena Media publishes its full Q3 2026 interim report on November 10.
Key points
- Catena Media plc (OMXSTO:CTM) preliminary Q3 revenue fell 29% year-over-year to EUR 8.3 million.
- Adjusted EBITDA dropped to EUR 0.7 million, down from EUR 2.9 million in Q3 2025.
- The company abandoned its 2026 target of double-digit organic growth in revenue and adjusted EBITDA.
- A non-cash impairment charge of EUR 30 million to EUR 35 million will be recorded in Q3.
- Generative search shifts and reduced operator budgets hurt traffic and customer acquisitions.
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How we writeDisclaimerQuestions and answers
Why did Catena Media lower its 2026 financial targets?
Catena Media dropped its targets after preliminary Q3 revenue fell 29% to EUR 8.3 million due to search traffic declines, changes in AI search behavior, and reduced operator marketing budgets during the summer.
What impairment charge is Catena Media taking in Q3 2026?
The company expects to recognize a non-cash impairment charge on intangible assets ranging between EUR 30 million and EUR 35 million in the third quarter.
When will Catena Media publish its full Q3 2026 report?
Catena Media plans to publish its complete interim report for the third quarter of 2026 on November 10 at 17:35 CET.