Catena Media PLC (OTCPK:CTTMF)

$ 0.9258 0 (0%) Market Cap: 39.71 Mil Enterprise Value: 50.33 Mil PE Ratio: 0 PB Ratio: 0.22 GF Score: 52/100

Q3 2023 Catena Media PLC Earnings Call Transcript

Nov 21, 2023 / 08:00AM GMT

Release Date Price: $1.6

Transcript

Michael Daly

Catena Media plc - CEO

Good morning. I'm Michael Daly, CEO of Catena Media, and I'm joined by Eric Edeen, our Interim Group CFO. This is our Q3 2023 interim report. Today, we'll cover the Q3 highlights of the group, focusing on continuing operations, thus discounting the impact of assets divested or in process of divestment. The information for the whole company, including now divested assets as well as the breakout of continuing operations are all available in our full report.

Q3 was a challenging quarter for the organization. We saw revenues for the group decreased by 28%. This was due in significant part to the undertaking of our journey towards a revenue share model in North America. In the quarter, we saw 17% of NDCs in North America delivered on revenue share agreements with operators, and that was up to 24% by the end of the quarter in the most important month, September, start of the NFL season. We expect this share to increase in the coming quarters as we convert more operators to similar deals.

Q3 was also impacted by a change in many operators' CPA rates,

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