Gambling.com Group posts 66% Q2 revenue rise after IPO
Affiliate giant launched three new US sports betting brands in the quarter but strongest growth still came from UK and Europe
Gambling.com Group has reported a 66% year-on-year rise in Q2 revenue to $10.4m (£7.6m) during its first interim financial results as a Nasdaq-listed public company.
The affiliate posted adjusted EBITDA of $5.5m for the period to mark an annual increase of 46%, corresponding to an adjusted EBITDA margin of 53%.
The revenue increase was due to improved monetisation of new depositing customers (NDCs), which the firm said was driven by a combination of tech improvements, product changes and market mix.
NDCs increased by 4% in the second quarter to 26,000.
The UK and Ireland market provided more than half of Gambling.com Group’s total revenue in Q2 at €5.4m following a 55% annual uptick.
The strongest Q2 growth came from the affiliate’s other European operating segment at 191%.
“Our second quarter results were highlighted by continued strong top-line growth and we are among the most profitable names in the online gambling industry based on our adjusted EBITDA margins,” said Gambling.com Group CEO Charles Gillespie.
“Since our founding in 2006, we have built an affiliate marketing powerhouse with recognisable brands around the globe.
“Players trust our services to help them find a safe, fun and legal betting experience while our B2C operator clients utilise our tech platform to support their increasingly important customer acquisition initiatives.
“We are incredibly excited about the next step in this journey as a public company and look forward to sharing the success with our new investors,” he added.
Significant events during the period saw the company complete its redomicilation from Malta to Jersey in May.
The business also launched new US-facing sports betting affiliate brands in EmpireStakes, BetArizona and IllinoisBet, and completed its Nasdaq listing under the ticker symbol GAMB.