Tuesday, September 27, 2022

Gambling Group reports 53 revenue growth for Q2

Affiliate Gambling.com Group has reported a 53% revenue rise to $15.9m, for Q2 2022.

The report also showed a revenue increase of 342% for the North American market.

During the second quarter, the company delivered more than 57,000 new depositing customers and the report also highlighted the successful expansion into the Ontario market.

Based on current information, the group predicted adjusted EBITDA of between $22m and $27m for the fiscal year 2022.

Charles Gillespie, CEO and Co-founder of Gambling.com Group, commented: “We continued to execute on our strategy of rapidly growing our business in North America in the second quarter as the team delivered company-wide revenue growth of over 50% and North American revenue growth over 300%.

“Our view remains that Gambling.com Group offers the best value proposition for online gambling operators’ investments in customer acquisition, and we look forward to the second half of the year as we enter the heart of the North American fall and winter sports calendars.”

Elias Mark, CFO of the group, added: “We delivered revenue and adjusted EBITDA ahead of the street consensus and generated strong free cash flow in the quarter. Revenue growth continued to be led by growth in North America in line with our strategic objectives, but we also saw strong trading in our more mature markets in the UK and Ireland, despite the weakening of the GBP and EUR against the US dollar.

“Integration of our acquisitions from Q1 is tracking according to plan. The company remains well capitalised and in a strong position to meet the financial outlook for the year, and to continue to grow profitably beyond.”

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