Catena Media (CTM) AI Stock Analysis

• Market Cap: kr134.04M
• Dividend Yield: N/A
• Average Volume (3M): 66.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.22
• Revenue Growth: -31.61%
• EPS Growth: 26.26%
• Country: SE
• Employees: 173
• Sector: Communication Services
• Sector Strength: 78
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): -0.11
• Shares Outstanding: 78,773,420
• 10 Day Avg. Volume: 80,692
• 30 Day Avg. Volume: 66,046
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 46 Neutral
• Price Target: kr1.50 ▼(-12.79%Downside)

Catena Media's overall stock score is primarily influenced by its weak financial performance, particularly the ongoing net losses and negative profit margins. Technical indicators further reflect a bearish sentiment, with the stock trading below key moving averages and lacking strong buying momentum. The negative P/E ratio underscores valuation concerns, indicating challenges in achieving profitability and generating shareholder value.

Catena Media Business Overview & Revenue Model

Company Description

Catena Media (CTM) is a leading performance marketing and lead generation company operating primarily in the iGaming and financial services sectors. The company specializes in creating high-quality content and tools that connect potential customers with operators and service providers, enhancing customer acquisition efforts for its partners. Catena Media's core offerings include affiliate marketing, search engine optimization, and content marketing strategies aimed at driving traffic and generating leads for its clients.

How the Company Makes Money

Catena Media makes money primarily through affiliate marketing and lead generation services. The company's revenue model is based on performance marketing agreements with its partners, where it earns commissions or fees for directing traffic and generating leads or conversions for operators in the iGaming and financial services industries. Catena Media employs search engine optimization, pay-per-click advertising, and high-quality content creation to attract and engage users, subsequently driving them to partner websites. The company may operate on a cost-per-acquisition (CPA), revenue share, or hybrid model, where it earns a percentage of the revenue generated from referred customers or a fixed fee per successful referral. Significant partnerships with major operators in its sectors, along with strategic acquisitions to expand its portfolio and reach, also contribute to its earnings.

Catena Media Financial Statement Overview

Summary

Catena Media shows declining revenue and profitability with negative profit margins and consistent net losses. Despite stable equity and manageable debt levels, profit generation is a concern. Positive operating cash flow is a bright spot, but growth is limited.

Income Statement

The income statement reveals a concerning downward trajectory in revenue and profitability. The revenue has decreased consistently from 2021 to the TTM (Trailing-Twelve-Months) period, with a current negative revenue growth rate. Additionally, the company has been experiencing negative EBIT and EBITDA margins, indicating operational inefficiencies and high operational costs. The net profit margin is also negative, highlighting persistent net losses.

Balance Sheet

The balance sheet shows a relatively stable equity base with a positive equity ratio. The debt-to-equity ratio is reasonably controlled, suggesting manageable leverage levels. However, the declining total assets and stockholders' equity over recent periods pose potential risks to financial stability. The return on equity is negative due to consistent net losses, which is a significant concern.

Cash Flow

Cash flow analysis indicates some strengths in operational cash generation, with a positive operating cash flow to net income ratio. The free cash flow is positive, albeit with limited growth. However, the company has been facing challenges in sustaining significant free cash flow growth. The ability to maintain positive cash flows amidst net losses is commendable, but the overall cash flow health requires improvement.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	49.64M	76.75M	110.12M	136.11M	105.99M
Gross Profit	38.65M	63.31M	98.74M	120.62M	95.91M
EBITDA	-40.59M	-11.21M	49.05M	-405.00K	33.77M
Net Income	-48.21M	-38.24M	25.62M	-7.17M	12.52M
Balance Sheet
Total Assets	146.81M	242.03M	322.63M	366.17M	340.86M
Cash, Cash Equivalents and Short-Term Investments	8.48M	38.51M	23.87M	26.96M	28.75M
Total Debt	21.85M	57.59M	76.66M	88.75M	90.50M
Total Liabilities	23.98M	66.84M	100.11M	137.65M	100.74M
Stockholders Equity	122.83M	175.18M	222.52M	228.52M	240.12M
Cash Flow
Free Cash Flow	137.00K	19.91M	26.87M	22.45M	37.30M
Operating Cash Flow	2.66M	20.04M	56.38M	65.80M	48.98M
Investing Cash Flow	11.62M	34.34M	-30.91M	-43.36M	-10.45M
Financing Cash Flow	-44.74M	-34.88M	-27.66M	-24.18M	-19.58M

Catena Media Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.72
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CTM, the sentiment is Negative. The current price of 1.72 is below the 20-day moving average (MA) of 1.77, below the 50-day MA of 1.75, and below the 200-day MA of 3.15, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 44.04 is Neutral, neither overbought nor oversold. The STOCH value of 74.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CTM.

Catena Media Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVO	84 Outperform	kr176.45B	13.03		3.62%	6.27%	11.76%
G5EN	74 Outperform	kr859.40M	8.76	16.63%	7.66%	-14.05%	-3.53%
BETS.B	69 Neutral	kr22.49B	10.38	23.10%	2.89%	15.10%	23.19%
KAMBI	65 Neutral	kr4.01B	23.33	9.13%	―	-4.66%	-32.21%
OVZON	58 Neutral	kr4.67B	―	-7.19%	―	20.47%	-2.65%
Sector *	57 Neutral	kr10.49B	11.57	19.43%	3.84%	-10.55%	8.73%
CTM	46 Neutral	kr134.04M	―	-42.17%	―	-31.61%	26.26%

Catena Media Corporate Events

Catena Media Reports Strong Growth and Strategic Acquisitions in 2025

Catena Media reported significant financial growth in the first half of 2025, with rental income and net operating surplus both rising substantially. The company made strategic acquisitions, including logistics facilities in Denmark and Sweden, to strengthen its market position and support sustainable development. These moves are expected to enhance Catena’s operations and provide long-term value for stakeholders.

Catena Expands Logistics Space with Jönköping Acquisition

Catena has acquired a logistics facility in Jönköping for SEK 1,275 million, expanding its logistics space to over 200,000 m² with Elgiganten as the tenant. This acquisition strengthens Catena’s collaboration with Elgiganten and aligns with its strategic objectives by enhancing its presence in a prime logistics location. The facility is fully leased to Elgiganten until 2033 and is expected to generate a net operating income of approximately SEK 80 million. The location benefits from excellent transport links, including a new rail connection and proximity to the E4 motorway. Access to the property will be granted on 1 September 2025.

Catena’s Joint Venture Sells Gothenburg Logistics Facility

Catena, through its joint venture Sörred Logistics Park with Platzer, has agreed to sell a newly built logistics facility in Gothenburg to Savills IM’s European Urban Logistics & Industrial Fund for SEK 385 million. The facility, fully leased to Volvo Personvagnar AB, is set to be transferred on 1 July 2025, and features a BREEAM-SE Excellent certification and a 500 kW photovoltaic system.

Catena Expands Logistics Facility and Extends Boozt Lease

Catena is expanding a logistics facility in Ängelholm for Boozt, an e-commerce company, and extending Boozt’s lease by five years until 2037. The 5,850 square metre extension at Norra Varalöv 31:11 will support Boozt’s growth and is expected to be completed by the second quarter of 2026, enhancing Catena’s collaboration with Boozt in a prime logistics location.

Catena Expands MTN Program to Support Growth

Catena has updated its Medium Term Notes (MTN) program prospectus, increasing the framework amount from SEK 5 billion to SEK 8 billion. This move, approved by the Swedish Financial Supervisory Authority, supports Catena’s growth strategy by enabling flexible and effective funding, with Swedbank and other major banks as dealers.

Catena Expands Logistics Portfolio with Copenhagen Acquisition

Catena has acquired a logistics facility in Brøndby, Greater Copenhagen, for approximately DKK 285 million, with PostNord as the tenant. This strategic acquisition enhances Catena’s presence in a prime location for efficient city logistics, leveraging its existing relationship with PostNord, and is expected to generate a net operating surplus of DKK 16.7 million.

Catena Media’s 2025 AGM Decisions and Incentive Program

At the 2025 Annual General Meeting, Catena Media approved its financial statements for 2024, decided against declaring dividends, and elected a new board member. The meeting also approved an incentive program with share options and warrants, continuing a similar structure from the previous year, and appointed KPMG Malta as auditors.

Catena Media Implements Strategic Changes Amid Revenue Decline

Catena Media’s Q1 2025 interim report reveals a significant decline in revenue and adjusted EBITDA, attributed to challenges in their core search business and a strategic shift towards subaffiliation, which offers lower margins. In response, the company has implemented efficiency measures, including a 25% reduction in headcount and a transition to a unified tech stack, aiming to reduce costs and improve operational agility. These steps are part of a broader strategy to stabilize the business, enhance profitability, and drive revenue growth through improved operational efficiency and scalable growth platforms.

Catena Media Reports Q1 2025 Earnings and Cost Optimization Plans

Catena Media has announced its preliminary financial results for Q1 2025, revealing a slight decline in revenue and adjusted EBITDA compared to the previous quarter. In response to the reduced margins, the company is implementing cost optimization measures, including a 25% reduction in headcount and technical consolidation changes, aiming to achieve significant annual cost savings. Additionally, the board has decided to defer interest payments on its hybrid capital security to secure long-term financial stability and support future investments, despite the challenges faced.

Catena Media Announces Q1 2025 Results Presentation

Catena Media has announced the publication of its Q1 2025 interim report, scheduled for May 13, 2025, at 17:35 CEST. The shift to a later publication time aims to provide improved access for a broader set of stakeholders. Following the report’s release, the company will host a webcast and teleconference with a Q&A session led by CEO Manuel Stan and CFO Michael Gerrow, reflecting Catena Media’s commitment to transparency and stakeholder engagement.