Gambling.com Group Q4 revenue up 9% on igaming gains
Nasdaq-listed affiliate also reports 39% adjusted EBITDA surge for final three months of the year, as 2025 guidance sets another 40% YoY increase for metric
Gambling.com Group has reported a 9% year-on-year (YoY) jump in Q4 revenue to $35.3m (£27.2m), with the affiliate’s igaming efforts helping drive the topline figure north.
Casino accounted for $25.5m of the quarter’s total revenue, representing a 49% rise from $17.1m in Q4 2023.
Sports betting revenue declined 39% YoY from $14.9m to $9.1m, with bosses highlighting the renewed focus on driving igaming customers to operators as a core reason.
Management also said the decline came as a result of tough comparisons against Q4 2023 when ESPN Bet launched in November of that year.
In turn, new depositing customers dropped 9% to 145,000. Gambling.com Group said this reflected the “challenging comparison”, given PENN Entertainment had launched the brand in 17 markets at once.
Geographically, North American was the group’s largest revenue contributor with $15.6m, although the region did experience a 24% decline in revenue YoY.
UK and Ireland revenue was up 41% to $10.6m, while other European revenue shot up 106% to $6.4m.
Rest of the World accounted for the remaining $2.8m, with the division noting a 92% YoY hike in revenue.
Performance marketing was the largest division for revenue at $28.4m, although advertising had the largest YoY growth at 34% to $4.7m.
Adjusted EBITDA leapt 39% YoY from $10.6m to $14.7m, with adjusted EBITDA margin rising from 32% to 42% in the quarter.
On a full-year basis, revenue was up 17% to $127.2m while adjusted EBITDA spiked 33% to $48.7m.
The finalized figures published today, March 20, align with the preliminary update Gambling.Com Group issued to market earlier this year.
The group has also reaffirmed its 2025 guidance, with revenue expected to land between $170m and $174m. Adjusted EBITDA is forecast to come in between $67m and $69m.
The company said these midpoints for revenue and adjusted EBTIDA represented YoY growth of 35% and 40%, respectively.
The guidance includes an approximate $14.5m boost to adjusted EBITDA from the recently acquired Odds Holdings, with that deal completing on January 1.
Gambling.com Group snapped up the OddsJam parent company in a deal that could be worth up to $160m.
However, the guidance does not include any contribution from Missouri’s sports betting market launch which is expected in H2.
Charles Gillespie, Gambling.com Group CEO, said the gains across the period were driven by the “prioritisation of igaming”.
He added: “Our team delivered outstanding performance in the quarter, especially when compared to the launch driven results in the prior-year period.
“We anticipate growth and continued market share gains in our performance marketing business across all geographic regions in 2025, including North America.
“The consolidation of Odds Holdings, Inc from January 1 marks the start of the company’s next phase of growth as we layer on sports data solutions to our existing, high-growth, high-margin business. Our competitive positioning is strong across the globe.”