Gambling.com Group Reports Record Second Quarter Revenue and Adjusted EBITDA
Enters into Definitive Agreement to Acquire Las Vegas-Focused Booking Platform, Spotlight.Vegas
Expands Share Buyback Authorization from
Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, commented, “Our second quarter performance was driven by two factors which reflect important broader trends in our business. First is an accelerating diversification away from the traditional search channel in favor of a more omnichannel approach, in particular with the marketing business. Second is an accelerating diversification into revenue models beyond marketing, including sports data services. Our marketing business continues to deliver market share gains and tremendous cash flow. The performance was driven by more and growing contributions from channels other than search than ever before. The growth in our exciting sports data services business accelerated in the quarter, despite negative seasonality, and was responsible for over
"We continue to deliver on our strategy of building deeper relationships with the end users of all of our websites to increase the monetization of our valuable and expanding consumer audience with additional products and services. Likewise, we are building deeper relationships with our operator partners by selling them more than just marketing services. As we continue to invest to expand our footprint in the gambling and entertainment ecosystem, the strategic acquisition of Spotlight.Vegas provides us with yet another scalable, technology platform which complements our existing portfolio and moves us another step closer to our goal of
Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Second quarter revenue of
Financial Highlights Three Months Ended June 30, 2025 vs. Three Months Ended June 30, 2024 (USD in thousands, except per share data, unaudited) |
|||||||||
|
Three Months Ended June 30, |
|
Change |
||||||
|
2025 |
|
2024 |
|
% |
||||
Revenue |
39,594 |
|
30,541 |
|
30 |
% |
|||
Net (loss) income for the period attributable to shareholders |
(13,415 |
) |
6,930 |
|
(294 |
)% |
|||
Net (loss) income per share attributable to shareholders, diluted |
(0.38 |
) |
0.19 |
|
(295 |
)% |
|||
Net (loss) income margin |
(34 |
)% |
23 |
% |
|
||||
Adjusted net income for the period attributable to shareholders (1) |
13,369 |
|
9,753 |
|
37 |
% |
|||
Adjusted net income per share attributable to shareholders, diluted (1) |
0.37 |
|
0.26 |
|
42 |
% |
|||
Adjusted EBITDA (1) |
13,678 |
|
11,211 |
|
22 |
% |
|||
Adjusted EBITDA Margin (1) |
35 |
% |
37 |
% |
|
||||
Cash flows generated by operating activities |
9,355 |
|
193 |
|
4747 |
% |
|||
Free Cash Flow (1) |
8,165 |
|
5,983 |
|
36 |
% |
|||
__________ (1) Represents a non-IFRS measure. See “Supplemental Information - Non-IFRS Financial Measures” and the tables at the end of this release for reconciliations to the comparable IFRS numbers. |
|||||||||
Enters into Definitive Agreement to Acquire Spotlight.Vegas
Gambling.com Group also announced today that it will expand its offerings through a definitive agreement to acquire Spotlight.Vegas. Spotlight.Vegas helps consumers access experiences such as live events and local attractions through its online booking platform. The proposed transaction is expected to close at the beginning of September, subject to customary closing conditions. The Company will pay
Spotlight.Vegas has relationships with more than 40 clients including entertainment venues and a multitude of land based casinos, offering a one-stop solution for visitors to
Mr. Gillespie added, “The addition of this custom-built booking platform will help drive further monetization of our audience, expands our client base to include land-based operators and gives our digital professionals a new platform to show off their industry leading marketing talent. We are confident that we can better operate this asset through optimized marketing spend and improved conversion. Medium and long term, we expect to deploy the technology on our owned and operated sites like Casinos.com and take it beyond
“With our prior acquisitions of RotoWire, BonusFinder, Freebets.com, OddsJam and OpticOdds, we have established a strong track record of successfully identifying and closing strategic, accretive acquisitions in a highly capital efficient manner. We expect the acquisition of Spotlight.Vegas to be no different and add another entry to our impressive list of successful transactions which create additional shareholder value.”
Second Quarter 2025 and Recent Business Highlights
- Delivered more than 108,000 new depositing customers (“NDCs”)
-
Entered into a swap agreement on April 1st to effectively convert
$75 million U.S. dollar borrowings to Euro borrowings, thereby lowering the cost of debt capital by approximately 200 basis points - Entered into definitive agreement to acquire Spotlight.Vegas
-
Won Sports Affiliate of the Year –
North America at the SBC Awards Americas 2025 -
Increased share repurchase authorization by
$10 million $20 million
Three Months Ended June 30, 2025 Results Compared to Three Months Ended June 30, 2024
Revenue rose
Gross profit increased
Total operating expenses of
Net income attributable to shareholders decreased
Adjusted EBITDA increased
Operating cash flow grew from
2025 Outlook
Gambling.com Group today adjusted its full-year guidance to a revenue range of
Financial Highlights Six Months Ended June 30, 2025 vs. Six Months Ended June, 2024 (USD in thousands, except per share data, unaudited) |
|||||||||
|
Six Months Ended June 30, |
|
Change |
||||||
|
2025 |
|
2024 |
|
% |
||||
Revenue |
80,229 |
|
|
59,756 |
|
|
34 |
% |
|
Net (loss) income for the period attributable to shareholders |
(2,181 |
) |
|
14,229 |
|
|
(115 |
)% |
|
Net (loss) income per share attributable to shareholders, diluted |
(0.06 |
) |
|
0.38 |
|
|
(116 |
)% |
|
Net (loss) income margin |
(3 |
)% |
|
24 |
% |
|
|
||
Adjusted net income for the period attributable to shareholders |
29,857 |
|
|
18,957 |
|
|
57 |
% |
|
Adjusted net income per share attributable to shareholders, diluted (1) |
0.82 |
|
|
0.51 |
|
|
61 |
% |
|
Adjusted EBITDA (1) |
29,542 |
|
|
21,370 |
|
|
38 |
% |
|
Adjusted EBITDA Margin (1) |
37 |
% |
|
36 |
% |
|
|
||
Cash flows generated by operating activities |
18,140 |
|
|
8,999 |
|
|
102 |
% |
|
Free Cash Flow (1) |
15,812 |
|
|
14,176 |
|
|
12 |
% |
|
__________ (1) Represents a non-IFRS measure. See “Supplemental Information - Non-IFRS Financial Measures” and the tables at the end of this release for reconciliations to the comparable IFRS numbers. |
|||||||||
Conference Call Details |
||
Date/Time: |
Thursday, August 14, 2025, at 4:30 p.m. ET |
|
Webcast: |
||
|
877-407-0890 |
|
International Dial In: |
1 201-389-0918 |
|
To access, please dial in approximately 10 minutes before the start of the call. An archived webcast of the conference call will also be available in the News & Events section of the Company’s website at gambling.com/corporate/investors/news-events. Information contained on the Company’s website is not incorporated into this press release.
About Gambling.com Group Limited
Gambling.com Group Limited (Nasdaq: GAMB) (the “Group”) is a fast-growing provider of marketing and sports data services for the global online gambling industry. Founded in 2006, the Group operates globally, primarily from offices in
Use of Non-IFRS Measures
This press release contains certain non-IFRS financial measures, such as Adjusted Net Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, and related ratios. See “Supplemental Information - Non-IFRS Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable IFRS numbers.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the
Consolidated Statements of Comprehensive Income (Unaudited) (USD in thousands, except per share amounts) |
||||||||||||||||||||||||
The following table details the consolidated statements of comprehensive income for the three months ended June 30, 2025 and 2024 in the Company's reporting currency and constant currency. |
||||||||||||||||||||||||
|
Reporting Currency |
|
Constant Currency |
|
Reporting Currency |
|
Constant Currency |
|||||||||||||||||
|
Three Months Ended June 30, |
|
Change |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|
Change |
|||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
|||||||||
Revenue |
39,594 |
|
|
30,541 |
|
|
30 |
% |
|
22 |
% |
|
80,229 |
|
|
59,756 |
|
|
34 |
% |
|
32 |
% |
|
Cost of sales |
(2,713 |
) |
|
(1,436 |
) |
|
89 |
% |
|
78 |
% |
|
(4,959 |
) |
|
(3,669 |
) |
|
35 |
% |
|
33 |
% |
|
Gross profit |
36,881 |
|
|
29,105 |
|
|
27 |
% |
|
20 |
% |
|
75,270 |
|
|
56,087 |
|
|
34 |
% |
|
32 |
% |
|
Sales and marketing expenses |
(15,386 |
) |
|
(10,713 |
) |
|
44 |
% |
|
36 |
% |
|
(30,085 |
) |
|
(20,325 |
) |
|
48 |
% |
|
46 |
% |
|
Technology expenses |
(6,141 |
) |
|
(3,094 |
) |
|
98 |
% |
|
87 |
% |
|
(11,864 |
) |
|
(6,309 |
) |
|
88 |
% |
|
85 |
% |
|
General and administrative expenses |
(8,422 |
) |
|
(6,237 |
) |
|
35 |
% |
|
28 |
% |
|
(16,031 |
) |
|
(12,541 |
) |
|
28 |
% |
|
26 |
% |
|
Movements in credit losses allowance and write-offs |
(142 |
) |
|
(741 |
) |
|
(81 |
)% |
|
(82 |
)% |
|
(471 |
) |
|
(701 |
) |
|
(33 |
)% |
|
(34 |
)% |
|
Fair value movement on contingent consideration |
(21,159 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
|
(21,632 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
|
Operating (loss) profit |
(14,369 |
) |
|
8,320 |
|
|
(273 |
)% |
|
(263 |
)% |
|
(4,813 |
) |
|
16,211 |
|
|
(130 |
)% |
|
(129 |
)% |
|
Finance income |
4,430 |
|
|
230 |
|
|
1826 |
% |
|
1716 |
% |
|
8,324 |
|
|
1,174 |
|
|
609 |
% |
|
598 |
% |
|
Finance expenses |
(2,318 |
) |
|
(897 |
) |
|
158 |
% |
|
144 |
% |
|
(4,819 |
) |
|
(1,351 |
) |
|
257 |
% |
|
251 |
% |
|
(Loss) income before tax |
(12,257 |
) |
|
7,653 |
|
|
(260 |
)% |
|
(251 |
)% |
|
(1,308 |
) |
|
16,034 |
|
|
(108 |
)% |
|
(108 |
)% |
|
Income tax charge |
(1,158 |
) |
|
(723 |
) |
|
60 |
% |
|
51 |
% |
|
(873 |
) |
|
(1,805 |
) |
|
(52 |
)% |
|
(52 |
)% |
|
Net income for the period attributable to shareholders |
(13,415 |
) |
|
6,930 |
|
|
(294 |
)% |
|
(283 |
)% |
|
(2,181 |
) |
|
14,229 |
|
|
(115 |
)% |
|
(115 |
)% |
|
Other comprehensive income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Items that are or may be reclassified subsequently to profit or loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Exchange differences on translating foreign currencies |
4,004 |
|
|
(921 |
) |
|
(535 |
)% |
|
(511 |
)% |
|
5,413 |
|
|
(3,515 |
) |
|
(254 |
)% |
|
(252 |
)% |
|
Cash flow hedge - effective portion of changes in fair value |
(3,050 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
|
(3,050 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
|
Cash flow hedges - reclassified to profit or loss |
2,313 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
2,313 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Related tax |
92 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
92 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Other comprehensive income (loss) for the period, net of tax |
3,359 |
|
|
(921 |
) |
|
(465 |
)% |
|
(445 |
)% |
|
4,768 |
|
|
(3,515 |
) |
|
(236 |
)% |
|
(234 |
)% |
|
Total comprehensive income for the period attributable to shareholders |
(10,056 |
) |
|
6,009 |
|
|
(267 |
)% |
|
(258 |
)% |
|
2,587 |
|
|
10,714 |
|
|
(76 |
)% |
|
(76 |
)% |
|
Consolidated Statements of Financial Position (Unaudited) (USD in thousands) |
||||||
|
|
|
|
|
||
|
|
JUNE 30, 2025 |
|
DECEMBER 31, 2024 |
||
ASSETS |
|
|
|
|||
Non-current assets |
|
|
|
|||
Property and equipment |
2,216 |
|
|
1,833 |
|
|
Right-of-use assets |
4,763 |
|
|
4,632 |
|
|
Intangible assets |
255,073 |
|
|
130,811 |
|
|
Deferred tax asset |
5,741 |
|
|
6,418 |
|
|
Total non-current assets |
267,793 |
|
|
143,694 |
|
|
Current assets |
|
|
|
|||
Trade and other receivables |
22,500 |
|
|
21,160 |
|
|
Cash and cash equivalents |
18,667 |
|
|
13,729 |
|
|
Total current assets |
41,167 |
|
|
34,889 |
|
|
Total assets |
308,960 |
|
|
178,583 |
|
|
EQUITY AND LIABILITIES |
|
|
|
|||
Equity |
|
|
|
|||
Share capital |
— |
|
|
— |
|
|
Capital reserve |
90,334 |
|
|
78,037 |
|
|
Treasury shares |
(29,998 |
) |
|
(29,998 |
) |
|
Share-based compensation reserve |
12,234 |
|
|
10,624 |
|
|
Foreign exchange translation deficit |
(5,399 |
) |
|
(10,812 |
) |
|
Hedging reserve |
(645 |
) |
|
— |
|
|
Retained earnings |
73,156 |
|
|
75,337 |
|
|
Total equity |
139,682 |
|
|
123,188 |
|
|
Non-current liabilities |
|
|
|
|||
Trade and other payables |
597 |
|
|
— |
|
|
Lease liability |
4,045 |
|
|
3,819 |
|
|
Deferred payables |
439 |
|
|
— |
|
|
Deferred tax liability |
7,339 |
|
|
2,258 |
|
|
Contingent consideration |
7,957 |
|
|
— |
|
|
Borrowings |
75,824 |
|
|
19,582 |
|
|
Derivative financial instrument |
3,018 |
|
|
— |
|
|
Total non-current liabilities |
99,219 |
|
|
25,659 |
|
|
Current liabilities |
|
|
|
|||
Trade and other payables |
9,846 |
|
|
10,205 |
|
|
Deferred income |
4,701 |
|
|
2,616 |
|
|
Contingent consideration |
37,205 |
|
|
— |
|
|
Deferred consideration |
— |
|
|
11,277 |
|
|
Borrowings and accrued interest |
14,449 |
|
|
3,349 |
|
|
Lease liability |
1,248 |
|
|
1,213 |
|
|
Income tax payable |
2,610 |
|
|
1,076 |
|
|
Total current liabilities |
70,059 |
|
|
29,736 |
|
|
Total liabilities |
169,278 |
|
|
55,395 |
|
|
Total equity and liabilities |
308,960 |
|
|
178,583 |
|
|
Consolidated Statements of Cash Flows (Unaudited) (USD in thousands) |
||||||||||||
|
Three months ended June 30, |
|
Six Months Ended June 30, |
|||||||||
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|||||
Cash flow from operating activities |
|
|
|
|
|
|
|
|||||
(Loss) income before tax |
(12,257 |
) |
|
7,653 |
|
|
(1,308 |
) |
|
16,034 |
|
|
Finance (income) expense, net |
(2,112 |
) |
|
667 |
|
|
(3,505 |
) |
|
177 |
|
|
Income tax paid |
(5,533 |
) |
|
(1,654 |
) |
|
(8,001 |
) |
|
(1,440 |
) |
|
Adjustments for non-cash items: |
|
|
|
|
|
|
|
|||||
Depreciation and amortization |
3,373 |
|
|
1,621 |
|
|
7,149 |
|
|
2,245 |
|
|
Movements in credit loss allowance and write-offs |
142 |
|
|
741 |
|
|
471 |
|
|
701 |
|
|
Share-based payment expense |
2,222 |
|
|
1,720 |
|
|
3,631 |
|
|
2,557 |
|
|
Fair value movement on contingent consideration |
21,159 |
|
|
— |
|
|
21,632 |
|
|
— |
|
|
Payment of deferred consideration |
— |
|
|
(7,156 |
) |
|
— |
|
|
(7,156 |
) |
|
Cash flows from operating activities before changes in working capital |
6,994 |
|
|
3,592 |
|
|
20,069 |
|
|
13,118 |
|
|
Changes in working capital |
|
|
|
|
|
|
|
|||||
Trade and other receivables |
1,688 |
|
|
(2,204 |
) |
|
1,802 |
|
|
36 |
|
|
Trade and other payables |
673 |
|
|
(1,195 |
) |
|
(3,731 |
) |
|
(4,155 |
) |
|
Cash flows generated by operating activities |
9,355 |
|
|
193 |
|
|
18,140 |
|
|
8,999 |
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|||||
Acquisition of property and equipment |
(226 |
) |
|
(842 |
) |
|
(537 |
) |
|
(914 |
) |
|
Acquisition of intangible assets |
— |
|
|
(20,605 |
) |
|
— |
|
|
(20,605 |
) |
|
Capitalization of internally developed intangibles |
(964 |
) |
|
(524 |
) |
|
(1,791 |
) |
|
(1,065 |
) |
|
Acquisition of subsidiaries, net of cash acquired |
— |
|
|
— |
|
|
(63,632 |
) |
|
— |
|
|
Interest received from bank deposits |
50 |
|
|
30 |
|
|
87 |
|
|
104 |
|
|
Payment of deferred consideration in relation to business combinations |
(10,503 |
) |
|
(5,594 |
) |
|
(10,803 |
) |
|
(10,044 |
) |
|
Cash flows used in investing activities |
(11,643 |
) |
|
(27,535 |
) |
|
(76,676 |
) |
|
(32,524 |
) |
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|||||
Exercise of options |
— |
|
|
451 |
|
|
588 |
|
|
557 |
|
|
Treasury shares acquired |
— |
|
|
(6,666 |
) |
|
— |
|
|
(9,750 |
) |
|
Proceeds from borrowings |
— |
|
|
18,000 |
|
|
94,500 |
|
|
18,000 |
|
|
Transaction costs related to borrowings |
(349 |
) |
|
(847 |
) |
|
(6,005 |
) |
|
(847 |
) |
|
Repayment of borrowings |
— |
|
|
— |
|
|
(23,381 |
) |
|
— |
|
|
Principal proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
2,813 |
|
|
— |
|
|
2,813 |
|
|
— |
|
|
Interest proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
1,298 |
|
|
— |
|
|
1,298 |
|
|
— |
|
|
Principal payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
(2,901 |
) |
|
— |
|
|
(2,901 |
) |
|
— |
|
|
Interest payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
(883 |
) |
|
— |
|
|
(883 |
) |
|
— |
|
|
Interest payment attributable to third party borrowings |
(145 |
) |
|
(174 |
) |
|
(1,875 |
) |
|
(174 |
) |
|
Interest payment attributable to deferred consideration settled in relation to asset acquisitions and business combinations |
(675 |
) |
|
(832 |
) |
|
(675 |
) |
|
(1,382 |
) |
|
Principal paid on lease liability |
(250 |
) |
|
(154 |
) |
|
(463 |
) |
|
(254 |
) |
|
Interest paid on lease liability |
(79 |
) |
|
(55 |
) |
|
(152 |
) |
|
(89 |
) |
|
Cash flows generated from financing activities |
(1,171 |
) |
|
9,723 |
|
|
62,864 |
|
|
6,061 |
|
|
Net movement in cash and cash equivalents |
(3,459 |
) |
|
(17,619 |
) |
|
4,328 |
|
|
(17,464 |
) |
|
Cash and cash equivalents at the beginning of the period |
21,498 |
|
|
25,318 |
|
|
13,729 |
|
|
25,429 |
|
|
Net foreign exchange differences on cash and cash equivalents |
628 |
|
|
(176 |
) |
|
610 |
|
|
(442 |
) |
|
Cash and cash equivalents at the end of the period |
18,667 |
|
|
7,523 |
|
|
18,667 |
|
|
7,523 |
|
|
|
|
|
|
|
|
|
|
|||||
Supplemental non-cash |
|
|
|
|
|
|
|
|||||
Right-of-use assets |
509 |
|
|
3,982 |
|
|
509 |
|
|
3,982 |
|
|
Issue of ordinary shares for acquisitions |
— |
|
|
— |
|
|
9,971 |
|
|
— |
|
|
Earnings Per Share
Below is a reconciliation of basic and diluted earnings per share as presented in the Consolidated Statement of Comprehensive Income for the period specified, stated in USD thousands, except per share amounts (unaudited):
|
Three Months Ended June 30, |
|
Reporting Currency Change |
|
Constant Currency Change |
|
Six Months Ended June 30, |
|
Reporting Currency Change |
|
Constant Currency Change |
|||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
|||||||
Net (loss) income for the period attributable to shareholders |
(13,415 |
) |
|
6,930 |
|
(294 |
)% |
|
(283 |
)% |
|
(2,181 |
) |
|
14,229 |
|
(115 |
)% |
|
(115 |
)% |
|
Weighted-average number of ordinary shares, basic |
35,679,467 |
|
|
36,724,946 |
|
|
|
|
|
35,627,074 |
|
|
36,906,748 |
|
|
|
|
|||||
Net (loss) income per share attributable to shareholders, basic |
(0.38 |
) |
|
0.19 |
|
(300 |
)% |
|
(290 |
)% |
|
(0.06 |
) |
|
0.39 |
|
(115 |
)% |
|
(115 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Net (loss) income for the period attributable to shareholders |
(13,415 |
) |
|
6,930 |
|
(294 |
)% |
|
(283 |
)% |
|
(2,181 |
) |
|
14,229 |
|
(115 |
)% |
|
(115 |
)% |
|
Weighted-average number of ordinary shares, diluted |
35,679,467 |
|
|
36,990,785 |
|
|
|
|
|
36,244,021 |
|
|
37,212,252 |
|
|
|
|
|||||
Net (loss) income per share attributable to shareholders, diluted |
(0.38 |
) |
|
0.19 |
|
(295 |
)% |
|
(285 |
)% |
|
(0.06 |
) |
|
0.38 |
|
(116 |
)% |
|
(115 |
)% |
|
Disaggregated Revenue
Revenue is disaggregated based on how the nature, amount, timing and uncertainty of the revenue and cash flows are affected by economic factors.
Marketing
Performance marketing. Performance marketing revenue consists of (i) CPA revenue from arrangements where we are paid exclusively by a single cash payment for each referred player, (ii) revenue share arrangements where we are paid exclusively by a share of the customer’s net gambling revenue ("NGR") from the referred players, and (iii) hybrid revenue from arrangements where we are paid by both a CPA commission and a revenue share commission from the referred players.
Advertising and other. Advertising, media and other revenue includes revenue from arrangements not based on the referred players and includes advertising on our platform and onboarding fees.
Data
Subscription. Data revenue consists of consumer and enterprise subscription revenue from data, data analytics and data syndication services.
|
Three Months Ended June 30, |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|||||||
|
2025 |
|
2024 |
|
2025 vs 2024 |
|
2025 |
|
2024 |
|
2025 vs 2024 |
|||
Marketing |
29,575 |
|
28,595 |
|
3 |
% |
|
60,311 |
|
55,851 |
8 |
% |
||
Data |
10,019 |
|
1,946 |
|
415 |
% |
|
19,918 |
|
3,905 |
410 |
% |
||
Total revenues |
39,594 |
|
30,541 |
|
30 |
% |
|
80,229 |
|
59,756 |
34 |
% |
||
The Company presents revenue as disaggregated by market based on the location of end user as follows:
|
Three Months Ended June 30, |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|||||||
|
2025 |
|
2024 |
|
2025 vs 2024 |
|
2025 |
|
2024 |
|
2025 vs 2024 |
|||
|
19,111 |
|
12,257 |
|
56 |
% |
|
40,099 |
|
27,073 |
|
48 |
% |
|
|
11,057 |
|
9,911 |
|
12 |
% |
|
22,140 |
|
18,831 |
|
18 |
% |
|
Other |
6,638 |
|
5,789 |
|
15 |
% |
|
12,576 |
|
9,583 |
|
31 |
% |
|
Rest of the world |
2,788 |
|
2,584 |
|
8 |
% |
|
5,414 |
|
4,269 |
|
27 |
% |
|
Total revenues |
39,594 |
|
30,541 |
|
30 |
% |
|
80,229 |
|
59,756 |
|
34 |
% |
|
The Company presents disaggregated revenue by monetization type as follows:
|
Three Months Ended June 30, |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|||||||
|
2025 |
|
2024 |
|
2025 vs 2024 |
|
2025 |
|
2024 |
|
2025 vs 2024 |
|||
Performance marketing |
24,948 |
|
24,219 |
|
3 |
% |
|
50,679 |
|
47,592 |
|
6 |
% |
|
Subscription |
10,019 |
|
1,946 |
|
415 |
% |
|
19,918 |
|
3,905 |
|
410 |
% |
|
Advertising & other |
4,627 |
|
4,376 |
|
6 |
% |
|
9,632 |
|
8,259 |
|
17 |
% |
|
Total revenues |
39,594 |
|
30,541 |
|
30 |
% |
|
80,229 |
|
59,756 |
|
34 |
% |
|
The Company also tracks its revenues based on the product type from which it is derived. Revenue disaggregated by product type was as follows:
|
Three Months Ended June 30, |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|||||||
|
2025 |
|
2024 |
|
2025 vs 2024 |
|
2025 |
|
2024 |
|
2025 vs 2024 |
|||
Casino |
23,737 |
|
22,073 |
|
8 |
% |
|
48,313 |
|
41,883 |
|
15 |
% |
|
Sports |
15,139 |
|
8,310 |
|
82 |
% |
|
30,640 |
|
17,611 |
|
74 |
% |
|
Other |
718 |
|
158 |
|
354 |
% |
|
1,276 |
|
262 |
|
387 |
% |
|
Total revenues |
39,594 |
|
30,541 |
|
30 |
% |
|
80,229 |
|
59,756 |
|
34 |
% |
|
Supplemental Information
Rounding
We have made rounding adjustments to some of the figures included in the discussion and analysis of our financial condition and results of operations together with our consolidated financial statements and the related notes thereto. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them.
Non-IFRS Financial Measures
Management uses both IFRS and non-IFRS financial measures in analyzing and assessing the overall performance of the business and for making operational decisions.
Adjusted Net Income and Adjusted Net Income Per Share
In the fourth quarter of 2024, we changed our definition of Adjusted net income, a non-IFRS financial measure, to net income attributable to shareholders adjusted to exclude the effect of non-recurring items, significant non-cash items, fair value movement on contingent consideration, unwinding of deferred consideration, employees’ bonuses related to acquisition, deferred revenue fair value adjustment, share-based payment and related expense, acquisition related costs, amortization expenses related to acquired businesses and assets, and other items that our board of directors believes do not reflect the underlying performance of the business, including acquisition related expenses, such as acquisition related costs and bonuses. Previously, Adjusted net income, a non-IFRS financial measure, was defined as net income attributable to shareholders excluding the fair value gain or loss related to contingent consideration, unwinding of deferred consideration, and certain employee bonuses related to acquisitions. We believe this more appropriately reflects the measurement of Adjusted net income as it includes adjustments for non-recurring items and significant non-cash items in addition to fair value movements related to contingent consideration and unwinding of deferred consideration.
Adjusted net income per diluted share is a non-IFRS financial measure defined as Adjusted net income attributable to shareholders divided by the diluted weighted average number of common shares outstanding.
We believe Adjusted net income and Adjusted net income per diluted share are useful to our management as a measure of comparative performance from period to period as these measures remove the effect of the fair value gain or loss related to the contingent consideration, unwinding of deferred consideration, and certain employee bonuses, all associated with our acquisitions, during the limited period where these items are incurred. The unwinding of deferred and contingent consideration during the three months ended March 31, 2025 is mainly associated with the unwinding of the discount applied to the valuation of deferred consideration for the acquisition of the Freebets.com Assets and the deferred and contingent consideration for the acquisition of Odds Holdings, Inc.completed January 1, 2025. The unwinding of deferred consideration and employee bonuses incurred until April 2024 relate to the Company’s acquisition of Roto Sports and BonusFinder. See Note 5 of the consolidated financial statements for the year ended December 31, 2023 filed on March 21, 2024 for a description of the contingent and deferred considerations associated with our 2022 acquisitions.
While we use Adjusted net income and Adjusted net income per share as tools to enhance our understanding of certain aspects of our financial performance, we do not believe that Adjusted net income and Adjusted net income per share are substitutes for, or superior to, the information provided by IFRS results. As such, the presentation of Adjusted net income and Adjusted net income per share is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with IFRS. The primary limitations associated with the use of Adjusted net income and Adjusted net income per share as compared to IFRS results are that Adjusted net income and Adjusted net income per share as we define them may not be comparable to similarly titled measures used by other companies in our industry and that Adjusted net income and Adjusted net income per share may exclude financial information that some investors may consider important in evaluating our performance.
The following tables reconcile Adjusted net income and Adjusted net income per share, diluted from net income for the period attributable to the shareholders and net income per share attributed to shareholders, diluted as presented in the Consolidated Statements of Comprehensive Income and for the period specified (unaudited):
|
Reporting Currency |
|
Constant Currency |
|
Reporting Currency |
|
Constant Currency |
|||||||||||||||||
|
Three months ended June 30, |
|
Change |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|
Change |
|||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
|||||||||
|
(USD in thousands) |
|
|
|
|
|
(USD in thousands) |
|
|
|
|
|||||||||||||
Revenue |
39,594 |
|
|
30,541 |
|
|
30 |
% |
|
22 |
% |
|
80,229 |
|
|
59,756 |
|
|
34 |
% |
|
32 |
% |
|
Net (loss) income for the period attributable to shareholders |
(13,415 |
) |
|
6,930 |
|
|
(294 |
)% |
|
(283 |
)% |
|
(2,181 |
) |
|
14,229 |
|
|
(115 |
)% |
|
(115 |
)% |
|
Net (loss) income margin |
(34 |
)% |
|
23 |
% |
|
|
|
|
|
(3 |
)% |
|
24 |
% |
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Net (loss) income for the period attributable to shareholders |
(13,415 |
) |
|
6,930 |
|
|
(294 |
)% |
|
(283 |
)% |
|
(2,181 |
) |
|
14,229 |
|
|
(115 |
)% |
|
(115 |
)% |
|
Fair value movement on contingent consideration (1) |
21,159 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
21,632 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Unwinding of deferred consideration (1) |
— |
|
|
426 |
|
|
(100 |
)% |
|
(100 |
)% |
|
211 |
|
|
679 |
|
|
(69 |
)% |
|
(69 |
)% |
|
Employees' bonuses related to acquisition(1) |
590 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
590 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Deferred revenue fair value adjustment (1) |
325 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
650 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Share-based payment and related expense (1) |
2,222 |
|
|
1,720 |
|
|
29 |
% |
|
22 |
% |
|
3,631 |
|
|
2,557 |
|
|
42 |
% |
|
40 |
% |
|
Acquisition related costs (1) (3) |
378 |
|
|
(450 |
) |
|
(184 |
)% |
|
(179 |
)% |
|
703 |
|
|
357 |
|
|
97 |
% |
|
94 |
% |
|
Amortization expense related to acquired businesses and assets (2) |
2,238 |
|
|
1,230 |
|
|
82 |
% |
|
72 |
% |
|
5,038 |
|
|
1,230 |
|
|
310 |
% |
|
304 |
% |
|
Tax effect of the adjusting items (2) |
(128 |
) |
|
(103 |
) |
|
24 |
% |
|
17 |
% |
|
(417 |
) |
|
-95 |
|
|
339 |
% |
|
330 |
% |
|
Adjusted net income for the period attributable to shareholders |
13,369 |
|
|
9,753 |
|
|
37 |
% |
|
29 |
% |
|
29,857 |
|
|
18,957 |
|
|
57 |
% |
|
55 |
% |
|
__________ |
||||||||||||||||||||||||
(1) There is no tax impact from fair value movement on contingent consideration, unwinding of deferred consideration, share-based payment and related expense, employees’ bonuses related to acquisition, deferred income fair value adjustment related to acquisition and acquisition related cost. |
||||||||||||||||||||||||
(2) Tax effect of adjusting costs is computed based on costs and certain amortization charges related to acquired businesses and assets using effective tax rate for each period. |
||||||||||||||||||||||||
(3) During the three months ended June 30, 2024, accounting treatment related to the acquisition of the Freebets.com Asset in April 2024 was finalized which resulted in capitalization of |
||||||||||||||||||||||||
|
Reporting Currency |
|
Constant Currency |
|
Reporting Currency |
|
Constant Currency |
||||||||||||||||
|
Three months ended June 30, |
|
Change |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|
Change |
||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
||||||||
Net (loss) income per share attributable to shareholders, basic |
(0.38 |
) |
|
0.19 |
|
|
(300 |
)% |
|
(290 |
)% |
|
(0.06 |
) |
|
0.39 |
|
(115 |
)% |
|
(115 |
)% |
|
Effect of adjustments for fair value movements on contingent consideration, basic |
0.59 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
|
0.61 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
Effect of adjustments for unwinding of deferred consideration, basic |
0.00 |
|
|
0.01 |
|
|
(100 |
)% |
|
(100 |
)% |
|
0.01 |
|
|
0.01 |
|
— |
% |
|
(50 |
)% |
|
Effect of adjustments for employees' bonuses related to acquisition, basic |
0.02 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
|
0.02 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
Effect of adjustments for deferred revenue fair value adjustment, basic |
0.01 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
|
0.02 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
Effect of adjustments for share-based payment and related expense, basic |
0.06 |
|
|
0.05 |
|
|
20 |
% |
|
20 |
% |
|
0.10 |
|
|
0.07 |
|
43 |
% |
|
43 |
% |
|
Effect of adjustments for acquisition related costs, basic |
0.01 |
|
|
(0.01 |
) |
|
(200 |
)% |
|
(200 |
)% |
|
0.02 |
|
|
0.01 |
|
100 |
% |
|
100 |
% |
|
Effect of adjustments for amortization expense related to acquired businesses and assets, basic |
0.06 |
|
|
0.03 |
|
|
100 |
% |
|
75 |
% |
|
0.13 |
|
|
0.03 |
|
333 |
% |
|
333 |
% |
|
Effect of tax adjustments, basic |
— |
|
|
0.00 |
|
|
— |
% |
|
— |
% |
|
(0.01 |
) |
|
— |
|
(100 |
)% |
|
(100 |
)% |
|
Adjusted net income per share attributable to shareholders, basic |
0.37 |
|
|
0.27 |
|
|
37 |
% |
|
32 |
% |
|
0.84 |
|
|
0.51 |
|
65 |
% |
|
62 |
% |
|
Net (loss) income per share attributable to ordinary shareholders, diluted |
(0.38 |
) |
|
0.19 |
|
|
(295 |
)% |
|
(285 |
)% |
|
(0.06 |
) |
|
0.38 |
|
(116 |
)% |
|
(115 |
)% |
|
Adjusted net income per share attributable to shareholders, diluted |
0.37 |
|
|
0.26 |
|
|
42 |
% |
|
36 |
% |
|
0.82 |
|
|
0.51 |
|
61 |
% |
|
58 |
% |
|
EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin
EBITDA is a non-IFRS financial measure defined as earnings excluding interest, income tax (charge) credit, depreciation, and amortization. Adjusted EBITDA is a non-IFRS financial measure defined as EBITDA adjusted to exclude the effect of non-recurring items, significant non-cash items, share-based payment expense, foreign exchange gains (losses), fair value of contingent consideration, and other items that our board of directors believes do not reflect the underlying performance of the business, including acquisition related expenses, such as acquisition related costs and bonuses. Adjusted EBITDA Margin is a non-IFRS measure defined as Adjusted EBITDA as a percentage of revenue.
We believe Adjusted EBITDA and Adjusted EBITDA Margin are useful to our management team as a measure of comparative operating performance from period to period as those measures remove the effect of items not directly resulting from our core operations including effects that are generated by differences in capital structure, depreciation, tax effects and non-recurring events.
While we use Adjusted EBITDA and Adjusted EBITDA Margin as tools to enhance our understanding of certain aspects of our financial performance, we do not believe that Adjusted EBITDA and Adjusted EBITDA Margin are substitutes for, or superior to, the information provided by IFRS results. As such, the presentation of Adjusted EBITDA and Adjusted EBITDA Margin is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with IFRS. The primary limitations associated with the use of Adjusted EBITDA and Adjusted EBITDA Margin as compared to IFRS results are that Adjusted EBITDA and Adjusted EBITDA Margin as we define them may not be comparable to similarly titled measures used by other companies in our industry and that Adjusted EBITDA and Adjusted EBITDA Margin may exclude financial information that some investors may consider important in evaluating our performance.
Below is a reconciliation to EBITDA and Adjusted EBITDA from net income attributable to shareholders for the period as presented in the Consolidated Statements of Comprehensive (Loss) Income for the period specified (unaudited):
|
Reporting Currency |
|
Constant Currency |
|
Reporting Currency |
|
Constant Currency |
|||||||||||||||||
|
Three Months Ended June 30, |
|
Change |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|
Change |
|||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
|||||||||
|
(USD in thousands) |
|
|
|
|
(USD in thousands) |
|
|
|
|||||||||||||||
Net income for the period attributable to shareholders |
(13,415 |
) |
|
6,930 |
|
|
(294 |
)% |
|
(283 |
)% |
|
(2,181 |
) |
|
14,229 |
|
|
(115 |
)% |
|
(115 |
)% |
|
Add back (deduct): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Interest expenses on borrowings and lease liability |
1,763 |
|
|
445 |
|
|
296 |
% |
|
274 |
% |
|
3,841 |
|
|
479 |
|
|
702 |
% |
|
690 |
% |
|
Interest income |
(54 |
) |
|
(30 |
) |
|
80 |
% |
|
66 |
% |
|
(90 |
) |
|
(104 |
) |
|
(13 |
)% |
|
(15 |
)% |
|
Income tax charge |
1,158 |
|
|
723 |
|
|
60 |
% |
|
51 |
% |
|
873 |
|
|
1,805 |
|
|
(52 |
)% |
|
(52 |
)% |
|
Depreciation expense |
157 |
|
|
71 |
|
|
121 |
% |
|
109 |
% |
|
283 |
|
|
141 |
|
|
101 |
% |
|
98 |
% |
|
Amortization expense |
3,216 |
|
|
1,550 |
|
|
107 |
% |
|
96 |
% |
|
6,866 |
|
|
2,104 |
|
|
226 |
% |
|
221 |
% |
|
EBITDA |
(7,175 |
) |
|
9,689 |
|
|
(174 |
)% |
|
(170 |
)% |
|
9,592 |
|
|
18,654 |
|
|
(49 |
)% |
|
(49 |
)% |
|
Share-based payment and related expense |
2,222 |
|
|
1,720 |
|
|
29 |
% |
|
22 |
% |
|
3,631 |
|
|
2,557 |
|
|
42 |
% |
|
40 |
% |
|
Fair value movement on contingent consideration |
21,159 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
21,632 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Deferred revenue fair value adjustment |
325 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
650 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Unwinding of deferred consideration |
— |
|
|
426 |
|
|
(100 |
)% |
|
(100 |
)% |
|
211 |
|
|
679 |
|
|
(69 |
)% |
|
(69 |
)% |
|
Foreign currency translation losses (gains), net |
(4,031 |
) |
|
(198 |
) |
|
1936 |
% |
|
1820 |
% |
|
(7,799 |
) |
|
(917 |
) |
|
750 |
% |
|
738 |
% |
|
Cash flow hedge - ineffective portion of changes in fair value |
11 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
11 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Other finance results |
199 |
|
|
24 |
|
|
729 |
% |
|
696 |
% |
|
321 |
|
|
40 |
|
|
703 |
% |
|
683 |
% |
|
Acquisition related costs (1)(2) |
378 |
|
|
(450 |
) |
|
(184 |
)% |
|
(179 |
)% |
|
703 |
|
|
357 |
|
|
97 |
% |
|
94 |
% |
|
Employees' bonuses related to acquisition |
590 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
590 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
Adjusted EBITDA |
13,678 |
|
|
11,211 |
|
|
22 |
% |
|
15 |
% |
|
29,542 |
|
|
21,370 |
|
|
38 |
% |
|
36 |
% |
|
__________ |
||||||||||||||||||||||||
(1) The acquisition costs are related to historical and contemplated business combinations of the Group. |
||||||||||||||||||||||||
(2) During the three months ended June 30, 2024, accounting treatment related to the asset acquisition in April 2024 was finalized which resulted in capitalization of |
||||||||||||||||||||||||
Below is the Adjusted EBITDA Margin calculation for the period specified stated in the Company's reporting currency and constant currency (unaudited):
|
Reporting Currency |
|
Constant Currency |
|
Reporting Currency |
|
Constant Currency |
|||||||||||||||||
|
Three Months Ended June 30, |
|
Change |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|
Change |
|||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
|||||||||
|
(USD in thousands, except margin) |
|
|
|
|
(in thousands USD, except margin) |
|
|
|
|||||||||||||||
Revenue |
39,594 |
|
|
30,541 |
|
|
30 |
% |
|
22 |
% |
|
80,229 |
|
|
59,756 |
|
|
34 |
% |
|
32 |
% |
|
Adjusted EBITDA |
13,678 |
|
|
11,211 |
|
|
22 |
% |
|
15 |
% |
|
29,542 |
|
|
21,370 |
|
|
38 |
% |
|
36 |
% |
|
Adjusted EBITDA Margin |
35 |
% |
|
37 |
% |
|
|
|
|
|
37 |
% |
|
36 |
% |
|
|
|
|
|||||
In regard to forward looking non-IFRS guidance, we are not able to reconcile the forward-looking non-IFRS Adjusted EBITDA measure to the closest corresponding IFRS measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items including, but not limited to, fair value movements, share-based payments for future awards, acquisition-related expenses and certain financing and tax items.
Free Cash Flow
Free Cash Flow is a non-IFRS liquidity financial measure defined as cash flow from operating activities less capital expenditures. In the second quarter of 2024, we changed our definition of Free Cash Flow to exclude from capital expenditures the cash flows related to asset acquisitions, in addition to cash flows related to business combinations. Previously, cash flows related to business combinations but not asset acquisitions were excluded from capital expenditures. We believe that this more appropriately reflects the measurement of Free Cash Flow as it includes capital expenditures related to internal development, ongoing maintenance and acquisition of property and equipment in the ordinary course of business but excludes discretionary acquisitions.
We believe Free Cash Flow is useful to our management team as a measure of financial performance as it measures our ability to generate additional cash from our operations. While we use Free Cash Flow as a tool to enhance our understanding of certain aspects of our financial performance, we do not believe that Free Cash Flow is a substitute for, or superior to, the information provided by IFRS metrics. As such, the presentation of Free Cash Flow is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with IFRS.
The primary limitation associated with the use of Free Cash Flow as compared to IFRS metrics is that Free Cash Flow does not represent residual cash flows available for discretionary expenditures because the measure does not deduct the payments required for debt payments and other obligations or payments made for acquisitions. Free Cash Flow as we define it also may not be comparable to similarly titled measures used by other companies in the online gambling affiliate industry.
Below is a reconciliation to Free Cash Flow from cash flows generated by operating activities as presented in the Consolidated Statements of Cash Flows for the period specified (unaudited):
|
Three Months Ended June 30, |
|
Change |
|
Six Months Ended June 30, |
|
Change |
|||||||||||
|
2025 |
|
2024 |
|
% |
|
2025 |
|
2024 |
|
% |
|||||||
|
(in thousands USD, unaudited) |
|
|
|
(USD in thousands, unaudited) |
|
|
|||||||||||
Cash flows generated by operating activities |
9,355 |
|
|
193 |
|
|
4747 |
% |
|
18,140 |
|
|
8,999 |
|
|
102 |
% |
|
Adjustment for items presented in operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|||||||
Payment of deferred consideration |
— |
|
|
7,156 |
|
|
(100 |
)% |
|
— |
|
|
7,156 |
|
|
(100 |
)% |
|
Adjustment for items presenting in investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|||||||
Capital Expenditures (1): |
|
|
|
|
|
|
|
|
|
|
|
|||||||
Acquisition of property and equipment |
(226 |
) |
|
(842 |
) |
|
(73 |
)% |
|
(537 |
) |
|
(914 |
) |
|
(41 |
)% |
|
Capitalization of internally developed intangibles |
(964 |
) |
|
(524 |
) |
|
84 |
% |
|
(1,791 |
) |
|
(1,065 |
) |
|
68 |
% |
|
Free Cash Flow |
8,165 |
|
|
5,983 |
|
|
36 |
% |
|
15,812 |
|
|
14,176 |
|
|
12 |
% |
|
__________ (1) Capital expenditures for Free Cash Flow are defined as the acquisition of property and equipment, and capitalized research and development costs, and excludes cash flows related to acquisitions accounted for as business combinations and asset acquisitions, as described above. |
||||||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250814914972/en/
For further information, please contact:
Investors: Peter McGough, Gambling.com Group, investors@gdcgroup.com
Media: Christine Doh, Gambling.com Group; media@gdcgroup.com
Source: Gambling.com Group Limited
