Gambling.com Group expects adjusted Q4 2024 EBITDA to surge 39%
Affiliate releases unaudited financial performance for final three months of the year, with $35.2m in anticipated revenue and EBITDA of $14.7m
Gambling.com Group is expecting Q4 2024 revenue to hit $35.2m, along with adjusted EBITDA of $14.7m, in what is set to be a record quarter for the affiliate.
The Nasdaq-traded business published its preliminary results today, 19 February, which also included expected net income of around $7.8m and free cash flow of approximately $13.1m.
In comparison, Q4 2023 revenue for the group amounted to $32.5m, with adjusted EBITDA of $10.6m.
Should Gambling.com Group’s forecasts come to fruition, revenue for the last three months of the year would increase 8.3% year on year (YoY) and adjusted EBITDA would jump 38.7%.
On a full-year basis, 2024 revenue is expected to reach $121.7m, adjusted EBITDA is anticipated to be $48.5m – representing a 38% margin – and net income to be around $30.5m
Against full-year 2023, revenue should rise 12% from $108.7m and adjusted EBITDA is forecasted to double YoY from $24.1m.
Bosses have also delivered 2025 guidance for the group, with revenue expected come in at $170m to $174m.
Adjusted EBITDA should end up between $67m and $69m, management added.
Gambling.Com Group said adjusted EBITDA is set to be boosted to the tune of $14.5m following the acquisition of Odds Holdings, which completed on 1 January.
The $160m move for Odds Holdings has seen Gambling.com Group snap up OddsJam and the company’s staff, allowing it to expand into odds comparison affiliation.
Online sports betting is also expected to launch in Missouri in H2, although Gambling.com Group said it will not include the Show-Me State in guidance until a firm launch date has been announced.
The guidance also assumes an average euro to US dollar exchange rate of 1.05 throughout 2025.
The affiliate will publish its full Q4 and full-year 2024 results on 20 March.
Charles Gillespie, Gambling.com Group CEO, said: “Our preliminary, record 2024 fourth quarter and full-year results surpassed expectations due to our relentless focus on execution and the ability of our global portfolio of websites to continuously drive valuable, high intent traffic to our customers in a capital efficient manner.
“Our operating performance continues to be led by the strong growth trajectory and attractive unit economics of igaming revenue across all our operating regions.
“As reflected in our initial revenue and adjusted EBITDA guidance for 2025, we are confident that our great positioning will drive yet another year of record performance with impressive continued revenue, adjusted EBITDA and free cash flow growth.”
The company’s shares were down around 1% to $16.56, at the time of writing.