Raketech Q3 revenue drops to $7.1M as company refines operations

Raketech's third-quarter results for 2025 saw revenue from continuing operations fall 42% to $7.1 million, while adjusted EBITDA held steady at $1.38 million, supported by cost control under a more streamlined business model.

The revenue drop was influenced by the exit of non-core assets and continued pressure on paid traffic channels. 

The period also saw the company pressing ahead with its “platform-first” approach, prioritizing exclusive publisher partnerships and the development of its AffiliationCloud offering.

Strategic shift and cost management

Management said the company’s focus remains on its owned publisher network and exclusive collaborations as it exits non-core assets and adapts to challenges in paid traffic acquisition.

During the quarter, the company finalized the sale of the Casumba asset for $13.7 million, which was fair-valued at €7.2 million and will be paid over four years. Raketech recorded a non-cash loss of approximately $11.4 million from the disposal.

Free cash flow before earn-outs and including discontinued operations totaled $1.26 million, a slight decline attributed to tax settlements during the period. Preliminary October data show slightly lower revenue from the Affiliation Marketing portfolio versus Q3, while momentum in the external organic network remains positive.

Organic publishing and partnership performance

The Organic Publisher Network generated $1.03 million in revenue during the quarter, up 80% from $0.57 million in Q2 2025. This growth was supported by a newly signed exclusive U.S. publisher partnership linked to a $750,000 minority investment.

SubAffiliation revenue remained unchanged quarter-on-quarter at $2.06 million, while the Paid Publisher Network continued to contract, consistent with industry challenges in paid acquisition.

CEO Johan Svensson said Raketech enters the fourth quarter with a “cleaner structure” and “growing momentum” in organic publishing. He said the company intends to pursue additional exclusive deals while maintaining financial discipline.