Gambling.com (GAMB)

Search documents
Gambling.com Group Limited (GAMB) Beats Q4 Earnings and Revenue Estimates
ZACKS· 2025-03-20 13:15
Gambling.com Group Limited (GAMB) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this company would post earnings of $0.18 per share when it actually produced earnings of $0.25, delivering a surprise of 38.89%.Over the last four quarters, the ...
Gambling.com (GAMB) - 2024 Q4 - Annual Report
2025-03-20 12:06
Revenue Growth - Total revenues for the year ended December 31, 2024, increased by 17% to $127,182,000 compared to $108,652,000 in 2023[292]. - North America revenue decreased by 9% to $55,500,000, while UK and Ireland revenue increased by 25% to $39,179,000[292]. - Performance marketing revenue grew by 15% to $101,078,000, accounting for 79% of total revenue[295]. - Casino revenue increased by 38% to $92,224,000, representing 73% of total revenue, while Sports revenue decreased by 18% to $33,282,000[298]. - The acquisition of Freebets.com Assets on April 1, 2024, contributed to growth in both casino and sports revenue[293]. - The company experienced strong organic growth in UK, Other Europe, and Rest of the World regions, offset by a decline in North American sports revenue[293]. - Revenue for the year ended December 31, 2024, reached $127.182 million, a 17% increase compared to $108.652 million in 2023[339]. Operating Expenses - Operating expenses increased due to higher people costs and amortization expenses related to the acquisition of Freebets.com Assets[303]. - Technology expenses rose by 36% to $13,949,000, driven by increased people costs and higher software and subscription expenses[311]. - Total general and administrative expenses for the year ended December 31, 2024, increased by 14% to $27,645 million compared to $24,291 million in 2023[314]. - People costs rose by 21% to $13,108 million in 2024, driven by new hires and salary increases[315]. - Acquisition-related costs surged by 162% to $2,151 million in 2024, linked to the acquisition of Freebets.com Assets and Odds Holdings, Inc.[315]. Profitability - Net income attributable to shareholders for the year ended December 31, 2024, was $30,679 million, reflecting a 68% increase from $18,260 million in 2023[326]. - Adjusted EBITDA for 2024 reached $48,691 million, a 33% increase compared to $36,715 million in 2023[326]. - Adjusted net income for the year attributable to shareholders was $42,120 million, a 31% increase from $32,207 million in 2023[326]. - Adjusted EBITDA margin improved from 34% in 2023 to 38% in 2024, driven by revenue growth and decreased cost of sales[340]. - Basic net income per share attributable to shareholders increased by 73% to $0.85 for the year ended December 31, 2024, compared to $0.49 in 2023[331]. Cash Flow - Cash flows generated by operating activities increased by 110% to $37,638 million in 2024, up from $17,910 million in 2023[326]. - Free Cash Flow for 2024 was $41,582 million, representing an 81% increase from $23,000 million in 2023[326]. - Cash flows used in investing activities for 2024 were $43.8 million, compared to $19.5 million in 2023[368]. - Cash flows used in financing activities increased to $5.2 million in 2024 from $3.1 million in 2023[368]. - Cash flows used in investing activities amounted to $43.8 million in 2024, primarily due to the acquisition of Freebets.com Assets ($20.0 million initial payment and $9.5 million deferred payment) and final payments related to previous acquisitions totaling $10.1 million[371][372]. Financial Position - As of December 31, 2024, the company had $13.7 million in cash deposited in banks, down from $25.4 million in 2023[352]. - The company had a positive working capital of $5.2 million as of December 31, 2024, compared to $14.6 million in 2023[367]. - The Term Loan outstanding as of December 31, 2024, amounted to $22.9 million[366]. - The Wells Fargo Credit Facility was increased from $100 million to $165 million, with a maturity date extended to February 28, 2028[357]. - The company expects adequate liquidity to fund operations for at least twelve months from the issuance date of the consolidated financial statements[353]. Investments and Assets - The company continues to invest significant resources in developing its technology platform, which is essential for competing in the online gambling affiliate market[378]. - The company owned 17 trademarks and over 1,800 domain names as of December 31, 2024, which are critical to its success[381]. - Investments in property and equipment were $1.3 million in 2024, with $1.9 million allocated to internally developed intangibles[372]. - The company relies on a combination of trademark, copyright, and other intellectual property laws to protect its intellectual property and proprietary rights[380].
Gambling.com (GAMB) - 2024 Q4 - Earnings Call Transcript
2025-03-20 12:00
Financial Data and Key Metrics Changes - The company reported record Q4 revenues of $35.3 million, with adjusted EBITDA of $14.7 million and free cash flow of $13.2 million, marking a 9% year-over-year revenue increase driven by casino revenue growth across all regions [6][16] - Full year 2024 revenue increased 17% to a record $127.2 million, with adjusted EBITDA rising 33% year-over-year to $48.7 million [19][20] - Gross profit increased 21% year-over-year to $33.1 million, with gross margin rising from 84% to 94% [17] Business Line Data and Key Metrics Changes - iGaming revenue grew significantly across all operating regions, with strong organic growth and benefits from the Freebets.com acquisition [11] - The acquisition of OzJam and Opticods is expected to drive substantial growth in subscription revenue, projected to account for over 20% of total group revenue [10][21] Market Data and Key Metrics Changes - Revenue in the UK and Ireland grew by 25%, while other Europe saw a 104% increase, and the rest of the world experienced an 81% rise, offsetting a 9% decline in North American revenue [19] - The company anticipates a return to growth in North America for 2025, driven by improved iGaming pricing trends and new state launches [12][21] Company Strategy and Development Direction - The company aims for full year revenue growth of 35% and adjusted EBITDA growth of 40% in 2025, with a long-term goal of generating $100 million in annual adjusted EBITDA [8][21] - Strategic acquisitions are a key focus, with the company successfully integrating new businesses to enhance its market position and drive shareholder value [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges in the sports betting market and highlighted the resilience of the iGaming sector [12][58] - The company remains optimistic about the expansion of iGaming in the U.S. and expects significant top-line and cash flow growth as more states approve iGaming [12][21] Other Important Information - The company repurchased approximately 3 million shares at an average price of $9.06, representing nearly 9% of total outstanding shares [20] - The company expanded its credit facility from $100 million to $165 million, providing increased flexibility for strategic acquisitions [20][21] Q&A Session Summary Question: Insights on customer negotiations and market conditions - Management noted that the supply of traffic is a key driver, and they have successfully navigated challenges in the sports betting market by focusing on iGaming and strategic acquisitions [25][27] Question: Feedback on Optic Odds and market traction - Management indicated that they are optimistic about the international expansion of Optic Odds and its potential to solve critical risk management problems for operators [31][33] Question: Guidance nuances and regional growth - Management highlighted that North America is expected to be the fastest-growing region, driven by a change in traffic source mix and a focus on higher gross margins [39] Question: Capital allocation and stock repurchases - Management confirmed that they received consent to proceed with stock buybacks and will be tactical in their approach, focusing on mispriced stock opportunities [43][44] Question: Opportunities in sweepstakes and prediction markets - Management expressed cautious optimism about sweepstakes and highlighted the potential for prediction markets to grow the overall market [47][49] Question: Impact of higher taxes on the business - Management stated that increased taxes would affect the entire ecosystem but noted that their best clients are Tier two and Tier three operators, who are less impacted [51][52] Question: Organic growth rates and economic resilience - Management indicated that organic growth is expected to be in the low teens, with the industry historically showing resilience during economic downturns [60][58]
Gambling.com (GAMB) - 2024 Q4 - Annual Report
2025-03-20 11:06
[Executive Summary](index=1&type=section&id=Executive%20Summary) Gambling.com Group achieved record Q4 and full-year 2024 results, driven by iGaming focus, with strong 2025 guidance and strategic acquisitions [Press Release Headline](index=1&type=section&id=Press%20Release%20Headline) Gambling.com Group reported record fourth quarter and full-year 2024 results, driven by a focus on iGaming, and provided 2025 guidance implying significant year-over-year growth - Gambling.com Group reported record Q4 and full-year 2024 results, driven by iGaming prioritization[1](index=1&type=chunk)[2](index=2&type=chunk) - 2025 guidance mid-points imply **35% YoY revenue growth** and **40% YoY Adjusted EBITDA growth**[1](index=1&type=chunk) [Executive Commentary](index=1&type=section&id=Executive%20Commentary) CEO Charles Gillespie highlighted record Q4 and full-year performance, attributing success to iGaming focus and anticipating continued market share gains in 2025, including North America, bolstered by the Odds Holdings acquisition - CEO Charles Gillespie emphasized record Q4 and full-year results, driven by iGaming prioritization and strong performance, anticipating continued market share gains in 2025 across all regions, including North America. The consolidation of Odds Holdings, Inc. is expected to layer sports data solutions onto the existing high-growth, high-margin business[2](index=2&type=chunk) - CFO Elias Mark highlighted Q4 revenue and Adjusted EBITDA increases of **9%** and **39%** year-over-year, respectively, with over **80% Adjusted EBITDA converting to free cash flow**. He noted strong online casino growth globally and resilient North American business, expecting significant revenue and Adjusted EBITDA growth in 2025[2](index=2&type=chunk) [Financial Performance Highlights](index=2&type=section&id=Financial%20Performance%20Highlights) The company achieved record Q4 and full-year 2024 financial results, with significant growth in revenue, Adjusted EBITDA, net income, and free cash flow [Fourth Quarter 2024 Financial Highlights](index=2&type=section&id=Fourth%20Quarter%202024%20Financial%20Highlights) In Q4 2024, Gambling.com Group achieved record revenue of $35.3 million, a 9% increase year-over-year, despite a 9% decrease in New Depositing Customers (NDCs) due to challenging prior-year comparisons Q4 2024 Financial Metrics | Metric | Q4 2024 (USD in thousands) | Q4 2023 (USD in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 35,308 | 32,530 | 9 % | | Net income attributable to shareholders | 7,933 | 6,372 | 24 % | | Net income per share (diluted) | 0.23 | 0.16 | 44 % | | Adjusted net income attributable to shareholders | 12,172 | 8,622 | 41 % | | Adjusted net income per share (diluted) | 0.35 | 0.22 | 59 % | | Adjusted EBITDA | 14,736 | 10,569 | 39 % | | Adjusted EBITDA Margin | 42 % | 32 % | - | | Cash flows from operating activities | 13,698 | 7,140 | 92 % | | Free Cash Flow | 13,162 | 6,511 | 102 % | - Revenue rose **9%** year-over-year to a record **$35.3 million**, despite a **9% decrease** in New Depositing Customers (NDCs) to **145,000**, primarily due to a challenging comparison with ESPNBet's launch in Q4 2023[4](index=4&type=chunk) - Gross profit increased **21%** to **$33.1 million**, driven by strong revenue growth and a **$2.9 million decrease** in cost of sales from media partnerships[5](index=5&type=chunk) [Full Year 2024 Financial Highlights](index=3&type=section&id=Full%20Year%202024%20Financial%20Highlights) For the full year 2024, Gambling.com Group achieved a 17% increase in revenue to $127.2 million, with significant growth across key profitability and cash flow metrics FY 2024 Financial Metrics | Metric | FY 2024 (USD in thousands) | FY 2023 (USD in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 127,182 | 108,652 | 17 % | | Net income attributable to shareholders | 30,679 | 18,260 | 68 % | | Net income per share (diluted) | 0.84 | 0.47 | 79 % | | Adjusted net income attributable to shareholders | 42,120 | 32,207 | 31 % | | Adjusted net income per share (diluted) | 1.16 | 0.84 | 38 % | | Adjusted EBITDA | 48,691 | 36,715 | 33 % | | Adjusted EBITDA Margin | 38 % | 34 % | - | | Cash flows from operating activities | 37,638 | 17,910 | 110 % | | Free Cash Flow | 41,582 | 23,000 | 81 % | - Full-year revenue, Adjusted EBITDA, and Free Cash Flow grew **17%**, **33%**, and **81%**, respectively, year-over-year[2](index=2&type=chunk) [Business and Operational Highlights](index=2&type=section&id=Business%20and%20Operational%20Highlights) In Q4 2024, Gambling.com Group delivered over 145,000 new depositing customers (NDCs) and repurchased 486,312 shares, while also winning 'Casino Affiliate of the Year' and completing the accretive acquisition of Odds Holdings, Inc - Delivered over **145,000** new depositing customers (NDCs)[8](index=8&type=chunk) - Repurchased **486,312 shares** at an average price of **$9.80 per share**[8](index=8&type=chunk) - Won 'Casino Affiliate of the Year' at the 2024 EGR Operator Awards[8](index=8&type=chunk) - Completed accretive acquisition of Odds Holdings, Inc. on January 1, 2025, for initial consideration of **$70 million in cash** and **$10 million in shares**[8](index=8&type=chunk) - Expanded credit facility to **$165 million** with a new syndicate[8](index=8&type=chunk) [2025 Financial Outlook](index=3&type=section&id=2025%20Financial%20Outlook) The company reiterated its 2025 full-year guidance, projecting significant revenue and Adjusted EBITDA growth, incorporating the Odds Holdings acquisition and specific market assumptions [Guidance](index=3&type=section&id=Guidance) Gambling.com Group reiterated its 2025 full-year guidance, projecting revenue between $170 million and $174 million and Adjusted EBITDA between $67 million and $69 million, with an anticipated Adjusted EBITDA margin of 39.5% 2025 Financial Guidance | Metric | 2025 Guidance Range (USD in millions) | Midpoint (USD in millions) | YoY Growth (Midpoint) | | :--- | :--- | :--- | :--- | | Revenue | $170 - $174 | $172 | 35 % | | Adjusted EBITDA | $67 - $69 | $68 | 40 % | | Adjusted EBITDA Margin | - | 39.5 % | - | [Guidance Assumptions](index=3&type=section&id=Guidance%20Assumptions) The 2025 guidance incorporates approximately $14.5 million in incremental Adjusted EBITDA from the Odds Holdings, Inc. acquisition, assumes no new North American markets will come online, and an average EUR/USD exchange rate of 1.07 - Assumes incremental Adjusted EBITDA contributions of approximately **$14.5 million** from the Odds Holdings, Inc. acquisition (completed January 1, 2025)[12](index=12&type=chunk) - Assumes no additional North American markets coming online over the balance of 2025, with benefits from new state launches excluded until a definitive start date is announced[12](index=12&type=chunk) - Assumes an average EUR/USD exchange rate of **1.07** throughout 2025[12](index=12&type=chunk) [Corporate Information](index=3&type=section&id=Corporate%20Information) This section provides conference call details, investor and media contacts, and an overview of Gambling.com Group's global digital marketing services [Conference Call Details](index=3&type=section&id=Conference%20Call%20Details) A conference call to discuss the results was scheduled for Thursday, March 20, 2025, at 8:00 a.m. ET, with webcast and dial-in access provided Conference Call Information | Detail | Information | | :--- | :--- | | Date/Time | Thursday, March 20, 2025, at 8:00 a.m. ET | | Webcast | https://www.webcast-eqs.com/register/Gamb032025/en | | U.S. Toll-Free Dial In | 877-407-0890 | | International Dial In | 1 201-389-0918 | [Investor and Media Contacts](index=4&type=section&id=Investor%20and%20Media%20Contacts) Contact information for investor relations (Peter McGough, Richard Land, Norberto Aja at JCIR) and media inquiries (Eddie Motl) was provided for further information - Investors can contact **Peter McGough** at Gambling.com Group or **Richard Land/Norberto Aja** at JCIR[13](index=13&type=chunk) - Media inquiries can be directed to **Eddie Motl** at Gambling.com Group[13](index=13&type=chunk) [About Gambling.com Group](index=4&type=section&id=About%20Gambling.com%20Group) Gambling.com Group Limited is a rapidly growing provider of digital marketing services for the global online gambling industry, operating over 50 branded websites across 19 national markets - Gambling.com Group Limited (Nasdaq: GAMB) is a fast-growing provider of digital marketing services for the global online gambling industry, founded in **2006**[13](index=13&type=chunk) - The Group operates over **50 websites** in more than **10 languages** across **19 national markets**, covering iGaming, sports betting, and fantasy sports, including premier brands like Gambling.com, Bookies.com, Casinos.com, and RotoWire.com[13](index=13&type=chunk) - The OddsJam platform provides a suite of tools and services for consumers and enterprises in sports betting[13](index=13&type=chunk) [Legal and Disclosure](index=4&type=section&id=Legal%20and%20Disclosure) This section introduces non-IFRS financial measures and provides a cautionary note regarding forward-looking statements and associated risks [Use of Non-IFRS Measures Introduction](index=4&type=section&id=Use%20of%20Non-IFRS%20Measures%20Introduction) This press release includes non-IFRS financial measures such as Adjusted Net Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, and Free Cash Flow, with reconciliations to comparable IFRS numbers provided - The press release contains non-IFRS financial measures including **Adjusted Net Income**, **EBITDA**, **Adjusted EBITDA**, **Adjusted EBITDA Margin**, and **Free Cash Flow**[14](index=14&type=chunk) - Reconciliations to comparable IFRS numbers are provided in the 'Supplemental Information - Non-IFRS Financial Measures' section[14](index=14&type=chunk) [Cautionary Note Concerning Forward-Looking Statements](index=5&type=section&id=Cautionary%20Note%20Concerning%20Forward-Looking%20Statements) The press release contains forward-looking statements regarding future events, financial condition, and business strategies, which are subject to known and unknown risks and uncertainties that could cause actual results to differ materially - The press release includes forward-looking statements about future events, financial condition, and business strategy, identifiable by terms such as 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'expect,' 'predict,' 'potential,' 'could,' 'will,' 'would,' 'ongoing,' 'future' or their negatives[15](index=15&type=chunk) - These statements are based on current expectations and projections but are subject to known and unknown risks, uncertainties, and other important factors that may cause actual results to differ materially[15](index=15&type=chunk) - Gambling.com Group disclaims any obligation to update or revise forward-looking statements, except as required by applicable law, and advises against undue reliance[15](index=15&type=chunk) [Unaudited Consolidated Financial Statements](index=5&type=section&id=Unaudited%20Consolidated%20Financial%20Statements) This section presents the unaudited consolidated statements of comprehensive income, financial position, and cash flows for Q4 and full-year 2024 [Consolidated Statements of Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) The consolidated statements of comprehensive income show a 9% increase in Q4 2024 revenue to $35.3 million and a 17% increase for the full year to $127.2 million, with significant growth in gross and operating profit Consolidated Statements of Comprehensive Income (USD in thousands) | Metric | Q4 2024 | Q4 2023 | Q4 Change (%) | FY 2024 | FY 2023 | FY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 35,308 | 32,530 | 9 % | 127,182 | 108,652 | 17 % | | Cost of sales | (2,185) | (5,089) | (57)% | (7,536) | (9,112) | (17)% | | Gross profit | 33,123 | 27,441 | 21 % | 119,646 | 99,540 | 20 % | | Operating profit | 9,859 | 8,170 | 21 % | 35,675 | 21,778 | 64 % | | Income before tax | 9,006 | 6,213 | 45 % | 34,150 | 20,141 | 70 % | | Net income attributable to shareholders | 7,933 | 6,372 | 25 % | 30,679 | 18,260 | 68 % | | Total comprehensive income attributable to shareholders | 534 | 11,325 | (95)% | 24,074 | 21,128 | 14 % | [Consolidated Statements of Financial Position](index=6&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) As of December 31, 2024, total assets increased to $178.6 million, driven by a rise in intangible assets, while total equity also increased to $123.2 million, and non-current liabilities significantly rose due to new borrowings Consolidated Statements of Financial Position (USD in thousands) | Metric | Dec 31, 2024 (USD in thousands) | Dec 31, 2023 (USD in thousands) | | :--- | :--- | :--- | | **ASSETS** | | | | Total non-current assets | 143,694 | 107,502 | | Total current assets | 34,889 | 47,367 | | **Total assets** | **178,583** | **154,869** | | **EQUITY AND LIABILITIES** | | | | Total equity | 123,188 | 118,924 | | Total non-current liabilities | 25,659 | 3,198 | | Total current liabilities | 29,736 | 32,747 | | **Total liabilities** | **55,395** | **35,945** | | **Total equity and liabilities** | **178,583** | **154,869** | - Intangible assets increased from **$98.0 million** in 2023 to **$130.8 million** in 2024[19](index=19&type=chunk) - Borrowings increased significantly from **$0** in 2023 to **$19.6 million** in non-current liabilities and **$3.3 million** in current liabilities in 2024[19](index=19&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash flows generated by operating activities significantly increased in Q4 and for the full year 2024, while cash flows used in investing and financing activities also rose, reflecting acquisitions and treasury share repurchases Consolidated Statements of Cash Flows (USD in thousands) | Metric | Q4 2024 | Q4 2023 | FY 2024 | FY 2023 | | :--- | :--- | :--- | :--- | :--- | | Cash flow from operating activities | 13,698 | 7,140 | 37,638 | 17,910 | | Cash flows used in investing activities | (10,055) | (6,991) | (43,842) | (19,474) | | Cash flows used in financing activities | (5,486) | (1,949) | (5,244) | (3,143) | | Net movement in cash and cash equivalents | (1,843) | (1,800) | (11,448) | (4,707) | | Cash and cash equivalents at end of period | 13,729 | 25,429 | 13,729 | 25,429 | - Acquisition of intangible assets was a significant use of cash in investing activities, totaling **$21.1 million** for the full year 2024[21](index=21&type=chunk) - Treasury shares acquired amounted to **$27.1 million** for the full year 2024, contributing to cash used in financing activities[21](index=21&type=chunk) [Supplemental Financial Data](index=8&type=section&id=Supplemental%20Financial%20Data) This section provides supplemental financial data including earnings per share, disaggregated revenue, and reconciliations for non-IFRS financial measures [Earnings Per Share](index=8&type=section&id=Earnings%20Per%20Share) Diluted net income per share attributable to shareholders increased 44% to $0.23 in Q4 2024 and 79% to $0.84 for the full year 2024, partly due to a decrease in weighted-average shares outstanding Earnings Per Share (USD in thousands, except per share data) | Metric | Q4 2024 | Q4 2023 | Q4 Change (%) | FY 2024 | FY 2023 | FY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net income attributable to shareholders | 7,933 | 6,372 | 24 % | 30,679 | 18,260 | 68 % | | Weighted-average ordinary shares, diluted | 35,188,864 | 38,879,038 | (9)% | 36,337,349 | 38,542,166 | (6)% | | Net income per share, diluted | 0.23 | 0.16 | 44 % | 0.84 | 0.47 | 79 % | [Disaggregated Revenue](index=8&type=section&id=Disaggregated%20Revenue) Revenue disaggregation reveals varied performance across markets, monetization types, and product types, with strong growth in Casino product revenue and international markets offsetting declines in North America and Sports revenue [By Market](index=8&type=section&id=By%20Market) In Q4 2024, North America revenue decreased by 24% year-over-year, while UK and Ireland revenue grew 41%, and Other Europe revenue surged 106% Revenue by Market (USD in thousands) | Market | Q4 2024 | Q4 2023 | Q4 Change (%) | FY 2024 | FY 2023 | FY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | North America | 15,632 | 20,516 | (24)% | 55,500 | 60,755 | (9)% | | UK and Ireland | 10,555 | 7,495 | 41 % | 39,179 | 31,347 | 25 % | | Other Europe | 6,366 | 3,086 | 106 % | 22,463 | 10,994 | 104 % | | Rest of the world | 2,755 | 1,433 | 92 % | 10,040 | 5,556 | 81 % | | Total revenues | 35,308 | 32,530 | 9 % | 127,182 | 108,652 | 17 % | [By Monetization Type](index=8&type=section&id=By%20Monetization%20Type) Performance marketing revenue increased 5% in Q4 2024 and 15% for the full year, while advertising & other revenue showed strong growth, up 34% in Q4 and 35% for the full year Revenue by Monetization Type (USD in thousands) | Monetization Type | Q4 2024 | Q4 2023 | Q4 Change (%) | FY 2024 | FY 2023 | FY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Performance marketing | 28,404 | 27,000 | 5 % | 101,078 | 87,824 | 15 % | | Subscription | 2,191 | 2,009 | 9 % | 8,367 | 7,652 | 9 % | | Advertising & other | 4,713 | 3,521 | 34 % | 17,737 | 13,176 | 35 % | | Total revenues | 35,308 | 32,530 | 9 % | 127,182 | 108,652 | 17 % | [By Product Type](index=9&type=section&id=By%20Product%20Type) Casino product revenue significantly increased by 49% in Q4 2024 and 38% for the full year, offsetting a decline in Sports product revenue, which decreased by 39% in Q4 and 18% for the full year Revenue by Product Type (USD in thousands) | Product Type | Q4 2024 | Q4 2023 | Q4 Change (%) | FY 2024 | FY 2023 | FY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Casino | 25,505 | 17,081 | 49 % | 92,224 | 66,869 | 38 % | | Sports | 9,135 | 14,933 | (39)% | 33,282 | 40,634 | (18)% | | Other | 668 | 516 | 29 % | 1,676 | 1,149 | 46 % | | Total revenues | 35,308 | 32,530 | 9 % | 127,182 | 108,652 | 17 % | [Non-IFRS Financial Measures and Reconciliations](index=9&type=section&id=Non-IFRS%20Financial%20Measures%20and%20Reconciliations) This section details the definitions, rationale, and reconciliations for various non-IFRS financial measures used by management to assess business performance - Management uses both IFRS and non-IFRS financial measures to analyze business performance and make operational decisions[26](index=26&type=chunk) - Non-IFRS measures are not substitutes for, or superior to, IFRS results and may not be comparable to similarly titled measures used by other companies[30](index=30&type=chunk)[31](index=31&type=chunk)[38](index=38&type=chunk)[44](index=44&type=chunk) [Rounding Policy](index=9&type=section&id=Rounding%20Policy) Rounding adjustments have been applied to some figures in the financial discussion and statements, meaning numerical totals in tables may not be exact arithmetic aggregations of their preceding figures - Rounding adjustments have been made, so numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them[25](index=25&type=chunk) [Adjusted Net Income and Adjusted Net Income Per Share](index=11&type=section&id=Adjusted%20Net%20Income%20and%20Adjusted%20Net%20Income%20Per%20Share) The definition of Adjusted Net Income was changed in Q4 2024 to exclude non-recurring and significant non-cash items, aiming to better reflect underlying business performance, with Adjusted net income per diluted share calculated accordingly - In Q4 2024, the definition of **Adjusted Net Income** was changed to exclude non-recurring items, significant non-cash items, share-based payment expense, fair value movements related to contingent consideration, unwinding of deferred consideration, amortization expenses related to acquired businesses and assets, and other acquisition-related expenses[27](index=27&type=chunk) - Adjusted net income per diluted share is defined as adjusted net income attributable to equity holders divided by the diluted weighted average number of common shares outstanding[28](index=28&type=chunk) - These measures are considered useful for comparative performance by removing effects of non-recurring items, significant non-cash items, fair value movements, and acquisition-related expenses[29](index=29&type=chunk) Reconciliation of Adjusted Net Income and Adjusted Net Income Per Share (USD in thousands, except per share data) | Metric | Q4 2024 | Q4 2023 | FY 2024 | FY 2023 | | :--- | :--- | :--- | :--- | :--- | | Net income attributable to shareholders | 7,933 | 6,372 | 30,679 | 18,260 | | Share-based payment and related expense | 1,215 | 997 | 4,953 | 3,787 | | Fair value movement on contingent consideration | — | — | — | 6,939 | | Unwinding of deferred consideration | 213 | 309 | 1,289 | 735 | | Acquisition related costs | 1,907 | 508 | 2,151 | 821 | | Amortization expense related to acquired businesses and assets | 998 | 133 | 3,246 | 461 | | Tax effect of the adjusting costs | (94) | (23) | (308) | (98) | | **Adjusted net income attributable to shareholders** | **12,172** | **8,622** | **42,120** | **32,207** | | Net income per share, diluted | 0.23 | 0.16 | 0.84 | 0.47 | | **Adjusted net income per share, diluted** | **0.35** | **0.22** | **1.16** | **0.84** | [EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin](index=13&type=section&id=EBITDA,%20Adjusted%20EBITDA%20and%20Adjusted%20EBITDA%20Margin) EBITDA is defined as earnings excluding interest, income tax, depreciation, and amortization, with Adjusted EBITDA further excluding non-recurring and significant non-cash items, and Adjusted EBITDA Margin representing Adjusted EBITDA as a percentage of revenue - **EBITDA** is defined as earnings excluding interest, income tax, depreciation, and amortization[36](index=36&type=chunk) - **Adjusted EBITDA** excludes non-recurring items, significant non-cash items, share-based payment expense, foreign exchange gains/losses, fair value of contingent consideration, and acquisition-related expenses[36](index=36&type=chunk) - **Adjusted EBITDA Margin** is Adjusted EBITDA as a percentage of revenue[36](index=36&type=chunk) Reconciliation of EBITDA and Adjusted EBITDA (USD in thousands) | Metric | Q4 2024 | Q4 2023 | FY 2024 | FY 2023 | | :--- | :--- | :--- | :--- | :--- | | Net income attributable to shareholders | 7,933 | 6,372 | 30,679 | 18,260 | | Add back: Interest expenses, Income tax, Depreciation, Amortization | 3,309 | 2,866 | 10,349 | 4,130 | | **EBITDA** | **11,323** | **6,729** | **41,324** | **22,135** | | Share-based payment and related expense | 1,215 | 997 | 4,953 | 3,787 | | Unwinding of deferred consideration | 213 | 309 | 1,289 | 735 | | Acquisition related costs | 1,907 | 508 | 2,151 | 821 | | **Adjusted EBITDA** | **14,736** | **10,569** | **48,691** | **36,715** | | Revenue | 35,308 | 32,530 | 127,182 | 108,652 | | **Adjusted EBITDA Margin** | **42 %** | **32 %** | **38 %** | **34 %** | [Free Cash Flow](index=14&type=section&id=Free%20Cash%20Flow) Free Cash Flow is a non-IFRS liquidity measure defined as cash flow from operating activities less capital expenditures, with its definition updated in Q2 2024 to exclude cash flows related to asset acquisitions, aiming to better reflect cash available for internal development and maintenance - **Free Cash Flow** is defined as cash flow from operating activities less capital expenditures[42](index=42&type=chunk) - In Q2 2024, the definition was changed to exclude cash flows related to asset acquisitions (in addition to business combinations) from capital expenditures, to better reflect cash for internal development and maintenance[42](index=42&type=chunk) - Free Cash Flow measures the ability to generate additional cash from operations but does not represent residual cash flows available for all discretionary expenditures[43](index=43&type=chunk)[44](index=44&type=chunk) Reconciliation of Free Cash Flow (USD in thousands) | Metric | Q4 2024 | Q4 2023 | FY 2024 | FY 2023 | | :--- | :--- | :--- | :--- | :--- | | Cash flows generated by operating activities | 13,698 | 7,140 | 37,638 | 17,910 | | Payment of deferred consideration | — | — | 7,156 | 2,897 | | Acquisition of property and equipment | (137) | (157) | (1,326) | (451) | | Capitalization of internally developed intangibles | (399) | (472) | (1,886) | (1,977) | | **Free Cash Flow** | **13,162** | **6,511** | **41,582** | **23,000** |
Why Gambling.com (GAMB) Could Beat Earnings Estimates Again
ZACKS· 2025-02-21 18:10
Core Insights - Gambling.com Group Limited (GAMB) is well-positioned to continue its earnings-beat streak, particularly in the upcoming report, with a history of exceeding earnings estimates [1][3] - The company has achieved an average surprise of 46.37% over the past two quarters, indicating strong performance [1][3] Earnings Performance - For the most recent quarter, Gambling.com reported earnings of $0.25 per share, surpassing the expected $0.18 per share, resulting in a surprise of 38.89% [2] - In the previous quarter, the company reported $0.20 per share against an expectation of $0.13 per share, leading to a surprise of 53.85% [2] Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for Gambling.com, with a positive Earnings ESP of +9.46%, suggesting analysts are optimistic about the company's earnings prospects [3][6] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) indicates a high likelihood of another earnings beat [6] Statistical Insights - Stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [4] - The Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [5]
Recent Price Trend in Gambling.com (GAMB) is Your Friend, Here's Why
ZACKS· 2025-02-11 14:50
Core Viewpoint - The article emphasizes the importance of timing and sustainability in stock trends for successful short-term investing, highlighting the need for strong fundamentals to maintain momentum [1][2]. Group 1: Stock Performance - Gambling.com Group Limited (GAMB) has shown a solid price increase of 33.7% over the past 12 weeks, indicating investor confidence in its potential upside [4]. - The stock has also increased by 18.9% over the last four weeks, suggesting that the upward trend is still intact [5]. - GAMB is currently trading at 91.4% of its 52-week high-low range, indicating a potential breakout [5]. Group 2: Fundamental Strength - GAMB holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like GAMB that are on an uptrend supported by strong fundamentals [3]. - The article suggests that there are other stocks passing through the same screen, providing additional investment opportunities [8].
Gambling.com And Rush Street Interactive: Both Look Good, But Here's Why Gambling.com Is Better
Seeking Alpha· 2025-02-02 09:56
Industry Overview - Online gambling is one of the fastest-growing industries in North America, driven by the legalization of the sector in more states, which is viewed as a potential source of tax revenue [1] Company Insights - Most companies in the online gambling industry are capitalizing on the growth opportunities presented by the expanding legal framework [1]
Gambling.com (GAMB) Moves to Buy: Rationale Behind the Upgrade
ZACKS· 2025-01-03 18:16
Core Viewpoint - Gambling.com Group Limited (GAMB) has received a Zacks Rank 2 (Buy) upgrade due to an upward trend in earnings estimates, indicating potential for stock price increase [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Gambling.com is projected at $0.88 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 76% [9]. - Over the past three months, the Zacks Consensus Estimate for Gambling.com has risen by 4%, indicating positive sentiment among analysts [9]. Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, which is a key driver of stock price movements [2][3]. - The system classifies stocks into five groups, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating, highlighting superior earnings estimate revisions [10][11]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, showcasing the effectiveness of the rating system [8]. Market Implications - The upgrade to Zacks Rank 2 positions Gambling.com in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [11]. - Rising earnings estimates are correlated with increased buying pressure from institutional investors, which can lead to significant stock price movements [5][6].
Is Gambling.com (GAMB) Stock Outpacing Its Business Services Peers This Year?
ZACKS· 2024-12-25 15:46
Group 1 - Gambling.com Group Limited (GAMB) has shown a year-to-date performance of approximately 47.9%, outperforming the Business Services sector, which has returned an average of 23.4% [8] - The Zacks Consensus Estimate for GAMB's full-year earnings has increased by 11% in the past quarter, indicating a positive trend in analyst sentiment [3] - Gambling.com Group Limited currently holds a Zacks Rank of 2 (Buy), suggesting a favorable earnings outlook [2] Group 2 - Gambling.com Group Limited is part of the Advertising and Marketing industry, which has seen a decline of about 4.6% year-to-date, indicating that GAMB is performing better than its industry peers [7] - The Business Services group, which includes GAMB, ranks 4 within the Zacks Sector Rank, highlighting its relative strength among 16 different groups [6] - Another stock in the Business Services sector, Lesaka Technologies (LSAK), has a year-to-date return of 59.3% and also holds a Zacks Rank of 2 (Buy), indicating strong performance within the sector [4][5]
Gambling.com (GAMB) Is a Great Choice for 'Trend' Investors, Here's Why
ZACKS· 2024-12-23 14:51
Core Insights - The article emphasizes the importance of confirming sound fundamentals and positive earnings estimates to sustain stock momentum, particularly for short-term trading strategies [1] Company Overview - Gambling.com Group Limited (GAMB) has shown a significant price increase of 44.9% over a 12-week period, indicating strong investor interest and potential upside [2] - GAMB is currently trading at 81.3% of its 52-week high-low range, suggesting it may be on the verge of a breakout [5] - The stock has maintained a price increase of 11.1% over the past four weeks, confirming that the upward trend is still intact [9] Investment Ratings - GAMB holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [14] - The average broker recommendation for GAMB is 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [10] Investment Strategies - The "Recent Price Strength" screen is highlighted as a useful tool for identifying stocks with sufficient fundamental strength to maintain their uptrend, particularly those trading in the upper portion of their 52-week range [8] - The Zacks Rank stock-rating system has a proven track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988, indicating a reliable method for stock selection [3]