Sweden · Delayed Price · Currency is SEK Kambi Group Earnings Call Transcripts
Fiscal Year 2026
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Q3 marked a third consecutive quarter of YoY revenue and profit growth, with revenue at EUR 46m and adjusted EBITA at EUR 7.9m. FY adjusted EBITA guidance narrowed to ~EUR 26m, while Brazil and migrations weigh on Q4.
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Q2 delivered strong revenue and profit growth, driven by exceptional World Cup performance and AI-powered trading, prompting a raised full-year EBITA guidance. New partnerships and product innovations further strengthened the outlook, with continued focus on automation and operational efficiency.
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Q1 saw revenue and profitability growth, driven by new contracts in Canada and France, strong AI-driven product performance, and disciplined cost control. Guidance remains unchanged despite new Colombian taxes, with new customer launches set to boost Q2 results.
Fiscal Year 2025
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Q4 2025 saw 16% adjusted EBITDA growth and strong operational momentum into 2026, with new partnerships, AI-driven trading surpassing 50% of bets, and a major Ontario Lottery launch. 2026 guidance targets EUR 20–25 million adjusted EBITAC, mid-single digit organic growth, and significant World Cup impact, despite regulatory and tax headwinds.
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Q3 saw 12 new agreements, strong cost control, and a proprietary PAM acquisition. Revenue and EBITDA declined year-over-year, with 2025 guidance cut to EUR 17 million due to Brazil, FX, and Ontario delays. Commercial momentum and cost efficiencies remain strong.
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Q2 revenue declined year-over-year due to tough comparatives and regulatory headwinds, but cost efficiencies improved margins. New deals in Europe and Latin America, a major share buyback, and eSports growth support long-term prospects, though full-year results are expected at the lower end of guidance.
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Q1 results met expectations, with new product launches and partner integrations driving growth. Revenue diversification, strong cash generation, and ongoing cost savings support a positive outlook, though FX volatility and regulatory changes remain key risks.
Fiscal Year 2024
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Q4 saw stable revenue and strong margins, with commercial momentum from new launches and partnerships. 2025 guidance anticipates EBITAC of €20-€25 million, supported by cost savings and AI-driven margin improvements, despite headwinds from customer migrations and regulatory changes.
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Q3 2024 delivered 16% revenue growth year-on-year (excluding one-offs), driven by new partner signings, strong operator turnover, and a high trading margin. A EUR 12 million share buyback was announced, and modular products like Odds Feed+ are expanding the addressable market.
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Q2 saw strong revenue and EBIT growth, driven by major football tournaments and new partner launches. Record operator trading margin and robust cash flow were achieved, with continued confidence in full-year guidance despite headwinds from reduced Penn fees and higher Swedish tax.
Fiscal Year 2023
Fiscal Year 2022
Fiscal Year 2021
Fiscal Year 2020
Fiscal Year 2019
Fiscal Year 2018
Fiscal Year 2017
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Q4 revenue hit a record EUR 19.0m, up 33% YoY, as a 9.7% operator margin lifted results. New wins and renewals strengthened the outlook, while U.S. expansion remained contingent on legal and regulatory changes.
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Operator turnover rose 16% YoY, while Q3 revenue held flat and operating profit declined. Customer wins, long-term renewals, market launches, and a strategic review reinforced the growth platform; Q4 operating costs were forecast to rise 3%-5% QoQ.
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Operator turnover rose 16% YoY despite Euro 2016 comparatives, but a 6.3% betting margin and 888 renewal terms constrained quarterly profit. A multi-year 888 extension and Colombian BetPlay deal supported long-term growth prospects.
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Operator turnover rose 27%, but weak trading margins limited revenue growth to 7% and reduced operating profit to EUR 1.4m. Greentube's planned rollout and continued sportsbook investment support longer-term growth.
Fiscal Year 2016
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Q4 operator turnover rose 19%, but a record-low December betting margin held revenue nearly flat and reduced operating profit. FY revenue grew 17% to EUR 56m, while Televisa and Greentube signings and price differentiation advanced growth plans.
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Q3 operator turnover rose 37% YoY, supporting 15% revenue growth and 25% operating-profit growth. Retail expansion and the NLS lottery partnership strengthened growth opportunities, while Luckia's exit was expected to have a limited revenue impact.
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Q2 revenue rose 28% YoY as operator turnover grew 46%, with Euro 2016 contributing 11% of turnover. Operating profit reached EUR 2.0m, while a 6.2% operator margin reflected unfavorable match results.