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Raketech Q1 2025: Driving Long-Term Value Through a Platform-First Strategy, and Enhanced Financial Flexibility

Published

10 months ago

May 8, 2025

Raketech Q1 2025: Driving Long-Term Value Through a Platform-First Strategy, and Enhanced Financial Flexibility

Quote from Johan Svensson, CEO “Q1 2025 marked a period of strategic consolidation and operational focus for Raketech. Despite a year-on-year revenue decrease we have made good progress in aligning the business around our platform-first model and long-term growth priorities. With AffiliationCloud now at the core of how we operate, and a strengthened financial position following key decisions, we are confident in our ability to scale efficiently and deliver sustainable value.”

Q1 2025 FINANCIAL HIGHLIGHTS

In Q1 2025, revenues totalled EUR 9.8 million, down from a strong Q1 2024 of EUR 19.0 million, which included EUR 0.8 million from the divested advisory business. Adjusted EBITDA amounted to EUR 2.4 million, (EUR 5.1 million in Q1 2024), while reported EBITDA was EUR 2.1 million (EUR 4.3 million in Q1 2024). The adjustments include restructuring costs related to the strategic shift towards working with entrepreneurial partnerships.

Financial results were impacted by continued low performance from Casumba within Affiliation Marketing and ongoing challenges in Paid Publisher Network (SubAffiliation). In contrast, the remaining casino and sports assets showed stable or improving trends, adjusted for seasonality, compared to Q4 2024.

We’re in the final stage of the strategic review of our non-core US tipster and subscription assets. These assets and related US operations had a negative EBITDA impact of EUR 0.3 million in Q1.

Free cash flow before earnouts totalled EUR 1.7 million in Q1 2025. EUR 6.0 million of the earnout was settled during the quarter, with EUR 2.0 million due in Q2. The remaining earnout of EUR 20.6 million has been extended to March 2028.

OPERATIONAL HIGHLIGHTS

As part of our previously announced review of our operating model, we achieved cost savings of 34% in Q1 2025 (excluding publisher costs) compared to the first quarter of last year.

SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD

On May 6, Raketech announced an agreement with the sellers of Casumba to extend the remaining earnout payment period to March 2028, while removing the option for partial settlement in shares. This revision enhances our financial flexibility, with a commitment to ongoing instalment payments and an ambition to repay the earnout as early as possible.

Revenues for our Affiliation Marketing assets in April 2025 remains consistent with Q1 2025. However, the lower margin Paid Network (SubAffiliation) continues to face headwinds.

CEO COMMENT

Q1 2025 marked a period of strategic consolidation and operational focus for Raketech. Despite a year-on-year revenue decrease we have made good progress in aligning the business around our platform-first model and long-term growth priorities.

With AffiliationCloud now at the core of how we operate, and a strengthened financial position following key decisions, we are confident in our ability to scale efficiently and deliver sustainable value.

Financial Overview
Q1 2025 revenues amounted to EUR 9.8 million compared to a strong Q1 2024 of EUR 19.0 million (including EUR 0.8 million from the divested advisory business). Adjusted EBITDA of EUR 2.4 million (EUR 5.1 million), with reported EBITDA of EUR 2.1 million (EUR 4.3 million). The adjustments include restructuring costs related to the strategic shift towards working with entrepreneurial partnerships.

We’re in the final stage of the strategic review of our non-core US tipster and subscription assets. These assets and related US operations had a negative EBITDA impact of EUR 0.3 million in Q1.

Strategic Execution & Direction
Platform-First / AffiliationCloud – Building a leading commercial platform: Raketech continues to strengthen its position as a platform first performance-based marketing company by focusing on what we do best: enabling scalability and long-term growth through a structure built on commercial and operational expertise. Through AffiliationCloud, we integrate assets managed in-house and via entrepreneurial partnerships (Affiliation Marketing), along with our Paid and Organic Publisher Network (SubAffiliation), into a single, unified system. This structure supports more efficient operations, better use of data, and greater predictability across all areas.

Entrepreneurial Partnerships – Decentralizing Affiliation Marketing Assets: Our entrepreneurial partnership model remains a core pillar of this approach. In Affiliation Marketing, approximately 50 percent of revenue now comes from these partnerships, and a strategic focus for us is to grow this further during 2025. The partnerships allow Raketech to retain ownership while leveraging its centralized capabilities in commercial agreements, finance, reporting, data, and technology. Our partners contribute deep expertise in areas such as SEO, content, and product development, creating a structure that fosters scalability and efficiency.

Win-Win for Operators and Publishers – SubAffiliation: In SubAffiliation, we apply the same principle by delivering high-quality traffic to operators and offering publishers the best possible commercial terms through AffiliationCloud.

The strategic focus within this area is expanding exclusive network commercial agreements with operators, onboarding new publishers, and investing in our platform infrastructure. These initiatives are laying the foundation for long-term value creation while enhancing daily execution across our network.

Business Area Updates

Affiliation Marketing
Keeping Momentum: Affiliation Marketing generated EUR 6.0 million in revenue during the quarter with continued decline for the Casumba assets. Adjusted for Casumba, the remainder of the Affiliation Marketing portfolio decreased only marginally compared to Q4, reflecting stability despite softer seasonal trading and the shorter reporting period in February. Activity levels in the latter part of the quarter were more in line with Q4, reinforcing our view of a stable and resilient portfolio.

Entrepreneurial Partnership Gaining Ground: Entrepreneurial partnerships now represent approximately 50 percent of revenues in this business area. Operational momentum for the new partnerships, most of which commenced in March, has been strong. While it is too early to see a material financial impact in Q1, we are optimistic that these partnerships will play an increasingly important role during the remainder of the year.

Moving Beyond SEO: Additionally, we continue to focus on diversifying our traffic streams to reduce dependency on SEO. Key initiatives include expanding CRM activities and investing in products with a higher proportion of returning visitors, such as the TV sport guides.

SubAffiliation – Organic Publisher Network and Paid Publisher Network

Navigating Paid Network Headwinds: SubAffiliation generated EUR 3.4 million in revenue during the quarter. The Paid Publisher Network faced a marked decline from March due to external factors like algorithm changes. This volatility has made traffic volumes and monetization less predictable. We do not expect a meaningful recovery in the near term and are putting continued focus on the more stable Organic Publisher Network, but we remain prepared to scale up again should volumes return.

Organic Publisher Network Gaining Ground: The Organic Publisher Network made solid progress. We have onboarded new publishers and expanded our pipeline of exclusive commercial network agreements with operators. The number of active revenue-generating publishers increased to over 80, up from around 50 last year, demonstrating strong interest. As of today, we have four exclusive network commercial operator agreements in place, and expanding this base remains a top priority.

This business area mirrors our partnership model in Affiliation Marketing, with Raketech managing commercial structures and partners providing high-quality traffic. This ensures scalability, value creation, and compliance.

Conclusion & Next Steps

Q1 2025 reflects strategic progress. In Affiliation Marketing, our entrepreneurial partnerships gained traction, and in SubAffiliation, the Organic Publisher Network showed promising growth. Simultaneously, challenges in the Paid Publisher Network reinforced our decision to focus on more stable, predictable sources of lead generation.

The revised Casumba terms have improved our financial flexibility, enabling us to invest in areas with the highest long-term potential.

By aligning commercial strength with operational efficiency across both internally managed assets and those run through entrepreneurial partnerships within Affiliation Marketing, we deliver measurable results and drive sustainable growth. With a growing base of trusted publishers and exclusive network commercial agreements with operators within SubAffiliation, we are well positioned to drive traffic, convert leads, and create long-term value for shareholders.

Johan Svensson, CEO

Related Topics:Johan Svensson Acting CEO of Raketech Raketech

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N1 Traffic Cups: The Year of Traffic Tournaments Starts soon

Published

9 minutes ago

February 18, 2026

Master Editor

N1 Partners is launching a series of traffic tournaments N1 Traffic Cups – with the first one kicking off this March. Throughout 2026, partners can expect a variety of promo activities: from standalone cups to a global championship.

This marks a logical continuation of N1 Partners’ community-focused initiatives. Recently, the team summed up the results of N1 Puzzle Promo – a top-tier promotion in the iGaming industry that ran for almost the entire year of 2025. After gathering participant feedback, consolidating the best practices from the successful campaign, and enhancing it with new engaging mechanics and a fresh perspective, N1 Partners developed a brand-new concept. The traffic tournament series will provide additional opportunities for teams working with traffic and focused on consistent performance growth and scaling results.

SEO teams, get ready – the first stage will be the N1 SEO Traffic Cup, opening the new season and setting the tone for the entire 2026 tournament series. A dedicated leaderboard with a tiered level system based on performance, a new competitive format, and a focus not only on scale but also on real traffic efficiency – this spring promises to be truly competitive.

Alexa Bond, Head of Affiliates at N1 Partners, comments on the upcoming launch:

“There are plenty of races and battles in the industry, but it was important for us to create a format that stands out in both spirit and approach. We’re not just preparing another competition – we’re building a story with character, centered around strategy, structure, and true competitive drive.
2026 is a year of major sporting events: the Olympics and the FIFA World Cup. The spirit of competition and top-level achievement perfectly aligns with the DNA of N1 Partners: energy, high performance, and healthy competitive ambition are what motivate and push both us and our partners forward.”

We’ll reveal all the details very soon…
Stay tuned to N1 Partners’ social media channels and follow the latest updates in iGaming media.

To learn more about the tournament launch, contact N1 Partners Leadgen Manager, Kristina:
Email: [email protected]
Telegram: https://t.me/Christina_N1L
LinkedIn: https://www.linkedin.com/in/christina-ladik-6a7068206/

Why N1 Partners?

14+ casino and sportsbook brands with Reg2Dep up to 70%
10+ Tier-1 GEOs
CPA up to €700 and RevShare up to 45% + NNCO for top partners + hybrid models

Be number one with N1!

News

N1 Partners’ Sky Dining Event for Top Partners at SiGMA Eurasia

Published

6 days ago

February 12, 2026

Master Editor

AIBC Eurasia in Dubai, which once again brought together top companies from the iGaming industry, became the first major event for N1 Partners after the grand show event in Barcelona celebrating the end of the N1 Puzzle Promo. So the conference in Dubai was a great opportunity to discuss plans for 2026 and set traffic priorities together with the N1 team.

Of course, N1 Partners couldn’t leave their top partners without a surprise. That’s why the affiliate program organized an exciting gastronomic experience in Dubai – Dinner in the Sky – for the Seven Group media buying team!

Here’s how it went 👇🏼

Listed by Forbes among the world’s 10 most unusual restaurants, Dinner in the Sky offers one of the most unique gastronomic experiences on the planet – a dinner 50 meters high with panoramic views of Dubai. It was exactly this experience that the N1 Partners affiliate team chose to invite their partners from the Seven Group media buying team.

“For us, events like these are more than just gatherings – they’re an opportunity to build truly genuine partnerships, grow closer, and better understand our partners. Dinner in the Sky was the perfect format to discuss plans, exchange ideas, and simply share vivid emotions with our top partners in a relaxed, informal setting. Moments like these lay the foundation for strong, long-term collaborations,” comments Alexa Bond, Head of Affiliates at N1 Partners.

Dinner highlights:

top partner team
90 minutes
50 meters above the ground

“We’d like to thank N1 Partners for the invitation to a business dinner where we were able to connect and spend time in a truly pleasant atmosphere. For us, this is a great sign. First, it shows that our traffic is highly valued by N1 Partners. Second, it proves that our partner is committed to developing business relationships through trust and personal interaction.

Many thanks to the N1 Partners team for the warm welcome and attention to detail. We were absolutely delighted and took away so many positive emotions that we’ll be bringing back with us from Dubai!” — shared the Seven Group team.

Getting invited to an exclusive Sky Dining event by N1 Partners is the result of consistent and effective collaboration with the affiliate program. Strong performance deserves a premium approach and special attention to top partners. At N1, partnerships are built on trust, transparent terms, and fast communication – enabling not only traffic scaling, but also going beyond standard cooperation to create truly unique experiences.

“We’ve been working with N1 Partners for almost a year, with the main traffic coming from Google PPC, and during this time we’ve managed to reach solid volumes. Integration is fast, data exchange is stable, and the team is always available – without unnecessary bureaucracy and with full involvement in the processes. In such a dynamic line of work, this is especially important.

We were happy to meet the N1 team offline in Dubai in this format and receive a gift that only подтверждает that our partnership is getting stronger,” shared the Seven Group team.

Catch N1 Partners at the upcoming iGaming conferences worldwide:

14+ casino and sportsbook brands with Reg2Dep up to 70%
10+ Tier-1 GEOs
CPA up to €700 and RevShare up to 45% + NNCO for top partners + hybrid models

See you soon!

News

Top Sports Events & Promos by N1 Partners: Where to Drive Tier-1 Traffic in February

Published

7 days ago

February 11, 2026

Master Editor

N1 Partners expands its sports traffic capabilities. Betting is now available across three brands within the affiliate program’s portfolio: alongside the flagship sports product N1 Bet, RollXO and Lucky Hunter have joined the lineup.

For partners, this opens up new opportunities to work with Tier-1 sports traffic. You can scale volumes on a dedicated betting product while simultaneously running sports traffic on casino brands with already strong conversion rates. This approach allows affiliates to diversify traffic flows, reduce reliance on a single product, and strengthen key performance metrics by combining sports, casino, and seasonal promotional mechanics.

Why Seasonal Events Matter When Driving Traffic

In practice, the most consistent conversion results are achieved when traffic launches are aligned with seasonality, key news hooks, and behavioral peaks in player activity.

February offers a particularly strong combination of factors:

a packed schedule of top football leagues and tournaments
the Winter Olympic Games
seasonal holidays, including Valentine’s Day
increased emotional engagement from players

During such periods, users are more likely to make deposit decisions, engage with promotions, and return to the product. Timing and the right contextual hook have a direct impact on overall performance.

To simplify campaign planning and help partners make the most of this period, the N1 Partners team has prepared a selection of key sports events and active promotions that are well suited for driving sports traffic.

Key Sports Events in February

11.02.2026

Soccer | Italy, Coppa Italia | Quarter-final | Bologna – Lazio

Ice Hockey | Olympic Games | Slovakia vs Finland

Soccer | England, Premier League | Manchester City – Fulham

Soccer | Germany, DFB Pokal | Quarter-final | Bayern Munich – RB Leipzig

Basketball | NBA | Houston Rockets – LA Clippers

Soccer | CONMEBOL, Copa Libertadores, Qualification, Quarter-finals | 2-nd legs

12.02.2026

Ice Hockey | Olympic Games | Czech Republic vs Canada

Soccer | England, Premier League | Brentford – Arsenal

Basketball | NBA | Orlando Magic – Milwaukee Bucks

Basketball | EuroLeague, Regular Season | Round 28

Rugby League | Super League (England, France) | Regular Season

13.02.2026

Ice Hockey | Olympic Games | Canada vs Switzerland

Basketball | NBA | Oklahoma City Thunder – Milwaukee Bucks

Handball | Germany, Bundesliga | Next Round

14.02.2026

Ice Hockey | Olympic Games | USA vs Denmark

Soccer | England, FA Cup | 1/16-finals

Soccer | Germany, Bundesliga | Werder Bremen – Bayern Munich

Rugby Union | France, Top 14 | Round 17

Handball | Spain, Liga ASOBAL | Next Round

Basketball | Spain, Liga ACB | Round 20

15.02.2026

Ice Hockey | Olympic Games | Switzerland vs Czech Republic

Soccer | Italy, Serie A | Inter – Juventus

Soccer | Italy, Serie A | Napoli – AS Roma

Soccer | Italy, Serie A | Lazio – Atalanta

Soccer | Spain, LaLiga | Girona – Barcelona

Soccer | Spain, LaLiga | Real Madrid – Real Sociedad

Soccer | France, Ligue 1 | Marseille – Strasbourg

Soccer | France, Ligue 1 | Rennes – PSG

Basketball | NBA | ALL-Star

Tennis | WTA 1000 Dubai, United Arab Emirates | Dubai Duty Free Tennis Championships

Active Promotions Across N1 Partners Brands

To boost player activity and support conversion rates during peak dates, N1 Partners is launching seasonal Valentine’s Day promotions across key brands. These campaigns provide partners with additional leverage when driving traffic and engaging users.

Valentine’s Advent Calendar (N1 Bet, RollXO)

Period: 13.02–17.02

Daily rewards available for participants over five days:

13.02 Love Box: prize up to €15,000
14.02 Valentine’s Riddle Offer: 100% bonus up to €500 + 150 FS
15.02 Sunday Challenge: 50% bonus on the 3rd deposit
16.02 Road to Free Spins: 30 FS for every €350
17.02 Fortune Lottery Series: prize pool €63,000

Cupid Mailbox Lottery (Lucky Hunter)

Period: 09.02–14.02

Prize pool for 28 winners: trip to Paris + €6,400 + 1,400 FS

Why This Matters for Partners

Seasonal promotions and event-driven campaigns help partners address several key challenges when working with Tier-1 traffic:

encourage higher average deposits
increase LTV through repeat engagement
sustain activity during periods when CR typically declines
integrate smoothly into creative bundles and ad formats
strengthen the emotional appeal of offers through holidays and major events

In a highly competitive environment, these product-driven initiatives help partners maintain stable and predictable performance.

What Partners Should Do Now

February combines major sports events, seasonal triggers, and strong promotional mechanics into a single high-potential window.

Drive traffic to key sports events and Valentine’s Day promotions across N1 Partners brands: N1 Bet, RollXO, and Lucky Hunter.

The N1 Partners team is ready to provide up-to-date promotions, analytics, and dedicated support tailored to your traffic volumes.

Join N1 Partners

N1 Partners provides everything affiliates need to stay ahead: high-converting products, ongoing analytics with optimization recommendations, and hands-on support from managers focused on long-term performance.

N1 Partners is more than an affiliate program. As a multi-brand affiliate platform and direct advertiser, the company unites 14+ casino and betting brands, operates across Tier-1 GEOs, delivers Reg2Dep rates of up to 70%, and offers competitive deals for top partners — CPA up to €700 and RevShare up to 45%. Trusted by 14,000+ partners, N1 Partners is recognized for its transparency, flexibility, and partner-first approach — where people and communication quality remain the foundation of long-term success.