Raketech Revenue Declines as Strategy Shift Continues

Raketech released its third-quarter 2025 results, showing that revenue from continuing operations declined to $7.1 million, a 42% drop year-over-year. Adjusted EBITDA came in at $1.38 million, supported by tighter cost controls and a more streamlined operating structure.

Good to Know

• Revenue decline reflects exit from non-core assets and weaker paid traffic channels
• AffiliationCloud and exclusive publisher partnerships remain core priorities
• Organic publishing growth accelerated despite overall revenue decline

Raketech has been reshaping its business to reduce exposure to volatile paid traffic channels while focusing on owned and partner publisher networks. This quarter, the company finalized the sale of the Casumba asset for $13.7 million. The asset was fair-valued at €7.2 million and will be paid over four years. Raketech recorded a non-cash loss of roughly $11.4 million tied to the disposal.

Management framed the quarter as part of a longer transition toward a “platform-first” model centered around AffiliationCloud and exclusive media partnerships.

Free cash flow before earn-outs and including discontinued operations totaled $1.26 million, slightly lower due to tax settlements. Early October data suggested steady performance in the external publisher network, although Affiliation Marketing revenue came in slightly below Q3 levels.

Organic Publishing Shows Momentum

The Organic Publisher Network generated $1.03 million in revenue, an 80% increase from $0.57 million in Q2 2025. Growth was driven by a new exclusive publisher collaboration in the United States linked to a $750,000 minority stake.

SubAffiliation revenue held steady at $2.06 million, reflecting stability in partner-led referral pipelines. Paid Publisher Network revenue continued to decline in line with pressure across paid acquisition channels industry-wide.

CEO Johan Svensson said the business enters the fourth quarter with stronger structure and expanding momentum in organic channels. He noted the priority remains on exclusive partnerships and careful financial discipline.

He described the current phase as one where Raketech maintains focus on publisher-driven performance rather than volume-based paid traffic, an approach designed to support more stable returns.

FAQ

Why did revenue fall so sharply?

The decline reflected the exit from non-core assets and reduced reliance on paid traffic channels.

What supported EBITDA stability?

Cost controls, a smaller operating footprint, and improved efficiency held EBITDA steady.

Why was Casumba sold?

To further streamline operations and shift focus toward owned publisher networks and AffiliationCloud.

Where did growth occur this quarter?

The Organic Publisher Network saw notable revenue acceleration tied to new exclusive partnerships.

What is the strategic direction for the next quarter?

More exclusive publisher deals, continued focus on AffiliationCloud, and disciplined cost management.

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