0001839799-26-000048
SEC filingGambling.com Group Limited reported FY 2025 revenue of $165.4 million, up 30% YoY from $127.2 million in 2024, driven by 392% growth in Data revenue to $41.1 million (25% of total) from acquisitions like OddsJam, and 5% growth in Marketing to $124.3 million. Gross profit rose 26% to $150.2 million (91% margin), but operating loss widened to -$31.8 million from 2024 profit of $35.7 million due to $47.7 million fair value loss on contingent consideration, $14.0 million impairment, and higher expenses. Net loss was $32.9 million (-$1 EPS) versus 2024 profit of $30.7 million ($0.84 EPS). Adjusted EBITDA was $58.0 million (35% margin), up 19% YoY. Cash from operations fell 49% to $19.1 million; investing outflows hit -$98.9 million on acquisitions; financing provided $81.5 million from borrowings. Balance sheet shows $299.7 million assets, $108.0 million equity, $118.6 million borrowings. North America revenue grew 57% to $87.2 million (53% total). Forward-looking, growth hinges on U.S. expansion, data services, amid regulatory risks and search volatility.
Gambling.com Group reported FY 2025 revenue of $165.4M, +30% YoY from $127.2M, fueled by Data segment surge to $41.1M (+392%) post-OddsJam acquisition, comprising 25% of total vs. 7% prior. Marketing revenue grew modestly +5% to $124.3M (75%). Gross profit +26% to $150.2M (90.8% margin, down from 94.1%). Operating loss -$31.8M vs. +$35.7M profit, hit by $47.7M contingent consideration loss, $14.0M impairment. Net loss -$32.9M (-$1 EPS) from +$30.7M (+$0.84 EPS). Adjusted EBITDA $58.0M (35% margin, +19%). Cash ops $19.1M (-49%), investing -$98.9M (acquisitions), financing +$81.5M (borrowings). Equity $108.0M on $299.7M assets.
Revenue breakdown: Marketing $124.3M (+5% YoY, 75%), Data $41.1M (+392%, 25%). Geographic: North America $87.2M (+57%, 53%), UK/Ireland $41.7M (+6%, 25%), Other Europe $26.1M (+16%, 16%), Rest of World $10.5M (+4%, 6%). Performance marketing $103.6M (62%), subscriptions $41.1M (25%), advertising/other $20.8M (13%). Casino $96.5M (59%), Sports $65.1M (39%). Growth from OddsJam/Spotlight.Vegas acquisitions; organic Marketing decelerated due to Google updates.
Gross margin 90.8% (150.2M/165.4M), down from 94.1% on higher cost of sales $15.3M (+103%). Op margin -19.2% vs. +28%. Sales/marketing $63.0M (38% rev, +50%), tech $24.8M (15%, +78%), G&A $32.2M (19%, +16%). Adjusted EBITDA margin 35% (+19% YoY). Impairments $14.0M, contingent loss $47.7M drove losses.
Ops cash $19.1M (-49% YoY). Investing -$98.9M (OddsJam $68.5M, Spotlight $6.1M). Financing +$81.5M (borrowings $132.5M net -$31.8M repay). Cash $15.8M (+15%). Assets $299.7M (+68%), equity $108.0M (-12%), debt $118.6M. Current ratio 1.2x.
Strategic focus: U.S. expansion, data services growth via OddsJam/OpticOdds. Risks: regulatory changes (e.g., Finland affiliate ban), search volatility (Google updates), customer concentration (top 10: 25%). Adjusted EBITDA $58.0M supports acquisitions; $32.5M revolver availability.