Catena Media's second quarter revenue from continuing operations was €12.8m, a decrease of 14 per cent year on year.
Revenue for the half year from continuing operations was €28.8m, a decrease of 38 per cent.
CEO Manuel Stan said: "I joined Catena Media as new CEO as of July 1. In my first weeks I have seen first-hand the strength and potential of our products and the talents and ambition of our people.
"I look forward to working with the new board of directors and the entire Catena team to drive the company forward.
"My thanks to the previous management and CEO and to the former board and chairman for handing over a restructured business with lower debt and to Pierre Cadena for standing in as interim CEO during Q2 and driving a number of key initiatives that we are now working together to implement.
"Today, my top priority is embedding our new operating model and optimising our products as we return to growth. I see high energy levels as we start this new chapter.
Since April 1, four out of five members of the executive management team are new in their roles. By year-end the makeover will be complete with the appointment of a new general counsel.
"A significant step in Q2 was to replace the former geographical organisational structure with a product-based operating model. We also acted to rightsize cost and now have the right people in the right places.
"Led by COO Pierre Cadena and CFO Michael Gerrow, these fundamental changes and our all-new management team will allow us to be more focused on the key priorities, more aligned across the organisation and better equipped to develop key business relationships with our customers."
