Revenue for the 12-month period through to 31 December 2019 amounted to €102.8m, down 2.1% from €105.0m in the previous year.

Catena noted a 1.8% year-on-year decline in search revenue from €89.9m to €88.3m, while paid revenue also dropped 15.0% to €11.9m and subscription revenue 57.7% to €2.6m.

The affiliate giant said revenue share arrangements were responsible for 43% of total revenue for the year, with 40% attribute to cost per acquisition revenue, 15% from fixed fees and 2% from subscriptions. Catena also noted that around 81% of revenue was generated in locally regulated or taxed markets.

In terms of spending, Catena has issued a warning earlier this week that higher costs related to certain areas of the business would likely impact its full-year financial performance.

Read the full story on iGaming Business.