Raketech Group (RAKE) Q1 2026 earnings summary

Executive summary

• Q1 2026 saw improved EBITDA and margin sequentially, despite a 36% year-over-year revenue decline due to the phase-out of the Paid Publisher Network in SubAffiliation.

• Nordic Affiliation Marketing portfolio showed resilience, with media-led product launches boosting engagement and performance.

• The company completed the divestment of Casumba assets, with proceeds supporting liquidity.

Financial highlights

• Revenue from continued operations: EUR 5.3 million, down 36% year-over-year.

• Adjusted EBITDA: EUR 1.2 million, down 7.5% year-over-year but up from EUR 1.1 million in Q4 2025.

• EBITDA margin improved to 22.1% from 12.3% year-over-year.

• Operating profit: EUR 0.27 million, down 65.5% year-over-year.

• Loss for the period from continuing operations: EUR 0.15 million, compared to a profit of EUR 0.23 million in Q1 2025.

• Free cash flow before earnouts: EUR 1.1 million, down 33.8% year-over-year.

Outlook and guidance

• Focus remains on strengthening the Nordic Affiliation Marketing portfolio and scaling media and sports content concepts.

• New exclusive Organic Publisher agreement in the Nordics expected to contribute meaningfully over time.

• Continued positive development in the Nordic Organic Publisher Network; US market remains challenging.