Kambi reveals ambitious five-year financial targets
Sports betting supplier aims for 2027 revenue to be two to three times higher than FY22 as part of its wider strategic vision
Kambi has revealed, ahead of its Capital Markets Day today, it is targeting 2027 revenue to be two or three times larger than what it achieved in 2022.
Kambi does not disclose its full-year expectations but in the first three quarters of 2022, the supplier has returned €108.2m (£94.97m) in revenue.
Looking to bolster its performance with the winter World Cup, Kambi will be hoping to at least match its full-year 2021 revenue of €162.4m.
However, Kambi’s largest quarter, Q1, in terms of revenue in 2022 returned €36.9m.
If extrapolating performance out to 2027, and if Kambi matches its 2021 performance, this would set a revenue target of between €324.8m and €487.2m
The supplier is also aiming for 2027 EBIT to be greater than €150m.
Kambi said these aims are based on the regulation of sports betting in certain key markets, continued partner retention and acquisition, as well as the successful execution of its product strategy.
Kambi estimates that its global addressable market will potentially increase to approximately €50bn in gross gaming revenue by 2027.
Alongside these new financial targets, the supplier’s board of directors also intend to create the firm’s future equity programmes around performance criteria in line with the financial targets.
Kambi will also be adapting its strategy going forward to try and create a flexible platform that gives its partners more control over their sportsbooks.
The supplier also aims to have high-quality standalone services that can be integrated with other sportsbooks and have greater efficiencies and product quality via ‘third generation’ trading.
Kristian Nylén, Kambi CEO and co-founder, said: “Kambi is well established as the market leading B2B sportsbook with a product only few operators can compete with.
“As we look to push product boundaries even further and deliver high-quality modular services, we are in a strong position to evolve our business model and capitalise on the growing revenue opportunity of an expanding global sports betting market,” he added.
Kambi’s share price has jumped 7.7% at the time of writing to SEK182.25.