Raketech Maintains Priorities Despite 18% Revenue Decline in Q2

Raketech will maintain its current strategic focus despite the 17.6% year-on-year decline in revenues in the second quarter of 2026, resulting in €5.6 million. This was stated by Johan Svensson, CEO of the Swedish company, after publishing results where the slowdown in non-core markets and the gradual phasing out of the paid publisher network impacted the figures, but did not alter the roadmap or main corporate objectives.

Low Revenues and Customer Reduction in Several Markets

The adjustment in Raketech's revenues affects all verticals: affiliate marketing reduced by 14.7% year-on-year (€4 million in Q2) and sub-affiliation fell by 19.3% (€1.6 million). By region, revenues from Nordic countries decreased by 6.2% to €4.2 million, while the rest of Europe saw a drop of 37% (€251,000). In the United States, revenues plummeted by 49%, coming in at €243,000. Countries outside Europe and the U.S. also recorded decreases, with a year-on-year drop of 38% to €899,000.

The number of new customers making deposits also retracted. In the second quarter of 2026, Raketech reported 15,674 new depositing customers compared to 15,687 in the same period last year, reflecting a 1.2% drop.

EBITDA and Financial Performance: Nuances in the Trend

Despite the revenue decline, the company's adjusted EBITDA reached €1.3 million this quarter—a decrease of 6.6% year-on-year, but higher than the €1.2 million recorded in the first quarter. Analyzing the first half of 2026, revenue fell by 28% year-on-year (€10.9 million in six months), while adjusted EBITDA dropped by 7% (€2.6 million).

According to Svensson, the second quarter marks the second consecutive improvement in EBITDA, showing some operational resilience:

“We will continue to strengthen our own publishers (affiliate marketing), scale media-led products and expand the organic publisher network while leveraging synergies,” affirmed Johan Svensson, CEO of Raketech.

The executive also noted that business activity accelerated at the end of the quarter due to the World Cup, driving the largest sports campaign in the group’s history.

Strategic Priorities and Recent Launches

In the short term, Raketech maintains three pillars: reinforcing owned editorial sites, scaling media products, and growing the independent publisher network. These objectives aim to optimize internal and external synergies, with no changes despite the context of results, appealing to gradual recovery after two quarters with EBITDA improvements despite the revenue decline.

Regarding innovation, the firm launched two new products ahead of the World Cup and plans to implement seven additional media initiatives for the remainder of the year. In the Nordic countries, Raketech signed and launched two new organic publishers, particularly in Sweden and Denmark, which helped offset the overall decline with an increase in activity in the sports segment.

Market Impact and Industry Changes

Raketech's stock price fell by 7.7% to SEK 1.50 (11 pence) at the close of the reporting period. The company lost two positions in the EGR Power Affiliates 2026 list, now occupying the seventh place according to the ranking created in collaboration with BDO.

In July, Gentoo Media appointed Måns Svalborn, former CEO of Raketech, as Chief Financial Officer. These movements reflect the usual adjustments in the industry following periods of volatility and competitive reconfiguration in the affiliate channel.

Context and Outlook for the Second Half of 2026

Raketech's revenue decline is largely due to weakness in secondary markets and the gradual phasing out of the paid publisher network. Nevertheless, management values the recovery of the EBITDA margin, resilience in Nordic markets, and the push for new media and owned editorial business lines, especially looking toward the second half of the year, which presents a more favorable context following the World Cup and the rollout of new initiatives.

The affiliation sector operates under renewed pressures in European and American markets, testing the adaptability of companies like Raketech in response to technological, regulatory, and user preference changes.