Catena Media Predicts Strong Finish to the Year Fueled by North American Growth

Catena Media forecasts a robust conclusion to the year, with their North American operations driving this surge. They predict earnings of $16.4 million from the area in the fourth quarter, a significant 31% increase from the previous year. This constitutes a substantial 78% of their overall income, underscoring their prosperous concentration on the flourishing North American market.

For the quarter as a whole, they are anticipating roughly $23.8 million in revenue, a 15% climb. Their profitability is also appearing positive, with projected earnings (adjusted EBITDA) of $9.4 million, a 14% rise.

There is, however, a slight caveat. Because of a singular accounting modification (a $7.8 million reduction), their formal “profit” will be reflected as lower on paper.

Chief Executive Michael Daly is understandably content, particularly with the North American results. He emphasized the successful introductions in Maryland and Ohio, noting that the latter marked their “most robust US state launch phase to date.” He perceives this as validation that their strategic emphasis on North America is yielding results.

In separate developments, Catena has engaged Carnegie Investment Bank as their new financial counsel, suggesting potential actions for the company in the coming months.

The firm is exploring all available avenues, including divesting certain holdings or potentially the entire operation. They’ve engaged high-profile financial consultants to assist in evaluating proposals from interested parties.