Raketech Profit Falls 65% Despite Stronger EBITDA Margin
Malta.- 21 August 2026 | www.zonadeazar.com Raketech reported a sharp year-on-year decline in revenue and operating profit for the second quarter of 2026, although sequential improvements and a stronger EBITDA margin provided some positive indicators.
The Malta-headquartered, Stockholm-listed company generated €5.6 million in revenue, compared with €6.8 million in Q2 2025.
Operating profit fell to €392,000, almost 65% below the €1.12 million recorded a year earlier.
EBITDA Holds Up as Margin Improves
Despite the revenue contraction, reported EBITDA declined by only 1.8% year-on-year to €1.297 million.
This compared with €1.321 million in Q2 2025.
The EBITDA margin improved from 21.2% to 24%, reflecting the effects of Raketech’s ongoing restructuring and cost-control measures.
Sequential Improvement
The figures also show progress compared with Q1 2026.
During the first quarter, Raketech reported:
- €5.3 million in revenue.
- €1.17 million in EBITDA.
- €316,000 in profit.
All three metrics improved sequentially in Q2.
Raketech described the period as its second consecutive quarter of EBITDA improvement.
FIFA World Cup Drives Activity
The 2026 FIFA World Cup played an important role during the quarter.
Raketech launched the largest sports campaign in its history, combining traffic and commercial inventory from Owned Sport Publishers and External Publishers through its AffiliationCloud platform.
Activity was subdued at the beginning of the quarter but accelerated significantly as the tournament got underway.
Sweden and Denmark were among the markets where sports volumes benefited particularly strongly.
Positive Start to Q3
Preliminary July data, covering a month that included most of the World Cup knockout fixtures, indicates that revenue from Raketech’s Owned Publishers remained slightly above the Q2 average.
The company said World Cup momentum continued to support activity beyond the end of the quarter.
New Media Products
Raketech launched two additional media products ahead of the World Cup.
Both build on concepts introduced earlier in the year and form part of a plan to launch a total of seven media initiatives during 2026.
The company said the two new products made a meaningful contribution to traffic and commercial inventory delivered to operator partners during the tournament.
Nordics Remain Core Market
The Nordic region remained Raketech’s main revenue driver.
Revenue from the region reached €4.22 million, down 6.2% year-on-year.
However, the Nordics represented 75.2% of total group revenue, up from 66% in Q2 2025.
Declines in US and Other Markets
Performance outside the Nordics was considerably weaker.
Revenue amounted to:
- €899,000 in the rest of the world, down 37.7%.
- €251,000 in the rest of Europe, down 36.9%.
- €243,000 in the United States, down 48.9%.
Raketech acknowledged that the US remains a challenging market and identified a return to growth there as a priority for the second half of 2026.
Affiliation Marketing and SubAffiliation
Affiliation Marketing generated €4.03 million, representing 71.8% of continuing revenue.
This was 14.7% lower year-on-year.
SubAffiliation generated €1.59 million, down 19.3%, accounting for the remaining 28.2%.
Management continued to attribute part of the decline to the ongoing phase-out of its Paid Publisher Network.
Casino Remains Largest Vertical
By product vertical, casino represented 61.8% of continuing operations revenue, while sport accounted for 38.2%.
Casino revenue declined by 24.7% to €3.47 million.
Restructuring and Workforce Reduction
Raketech continued its cost-cutting restructuring programme.
The workforce fell from 87 employees to 54 year-on-year.
Despite the reduced headcount, the company still plans to enter the Italian market towards the end of the third quarter.
Accounting Change Weighs on Profit
The sharp reduction in operating profit was also affected by an accounting change introduced in Q4 2025.
Raketech changed the estimated useful life of certain websites and domains from indefinite to eight years.
As a result, depreciation and amortisation rose from €205,000 in Q2 2025 to €905,000 in Q2 2026.
The company identified this as the main driver behind the lower operating and net profit figures.
Statements
Raketech CEO Johan Svensson highlighted that Q2 marked the company’s second consecutive quarter of EBITDA improvement.
He said both Affiliation Marketing and SubAffiliation grew compared with Q1, while Nordic media-led initiatives continued to support engagement and overall performance.
Svensson also confirmed that Raketech will continue investing in sports assets, including its TV sport guides, as it prepares for the upcoming football season and future major championships.
Next Steps or Impact
Raketech enters the second half of 2026 with a leaner cost base, a stronger EBITDA margin and signs of sequential improvement.
Its priorities include strengthening Owned Publishers, scaling media-led products, expanding the Organic Publisher Network and returning its US operations to growth.
The planned launch in Italy later in Q3 will also add another market to the company’s growth strategy.
Editó: @fonta
