Gambling.com Group Reports Record Third Quarter Revenue and Adjusted EBITDA
Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, commented, “Our record third quarter revenue and Adjusted EBITDA show the power of our business, including its ability to generate substantial adjusted free cash flow, even in the face of persisting, albeit temporary, challenges within the search channel of our marketing business. Primarily driven by strong growth in enterprise sales, our sports data services business continued to outperform our expectations with revenue increasing more than
“The outperformance in our sports data services business is partially offset by the impact to our marketing business from low-quality search results related to the proliferation of spam websites particularly in non-
Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Through the first nine months of 2025, revenue and Adjusted EBITDA increased
Financial Highlights Three Months Ended September 30, 2025 vs. Three Months Ended September 30, 2024 |
||||||||
(USD in thousands, except per share data, unaudited) |
||||||||
|
Three Months Ended September 30, |
|
Change |
|||||
|
2025 |
|
2024 |
|
% |
|||
Revenue |
38,982 |
|
|
32,118 |
|
|
21 |
% |
Net (loss) income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
|
(145 |
)% |
Net (loss) income per share attributable to shareholders, diluted |
(0.11 |
) |
|
0.24 |
|
|
(146 |
)% |
Net (loss) income margin |
(10 |
)% |
|
26 |
% |
|
|
|
Adjusted net income for the period attributable to shareholders (1) |
9,345 |
|
|
11,064 |
|
|
(16 |
)% |
Adjusted net income per share attributable to shareholders, diluted (1) |
0.26 |
|
|
0.31 |
|
|
(16 |
)% |
Adjusted EBITDA (1) |
13,010 |
|
|
12,584 |
|
|
3 |
% |
Adjusted EBITDA Margin (1) |
33 |
% |
|
39 |
% |
|
|
|
Cash flows generated by operating activities |
10,911 |
|
|
14,936 |
|
|
(27 |
)% |
Adjusted Free Cash Flow (1) |
9,632 |
|
|
14,240 |
|
|
(32 |
)% |
| __________ |
(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. |
Third Quarter 2025 and Recent Business Highlights
- Delivered more than 101,000 new depositing customers (“NDCs”)
- Acquired Spotlight.Vegas, an online booking platform for live events and local attractions in September
-
Repurchased 562,222 shares at an average price of
$8.33 - Won EGR Affiliate of the Year award for an unprecedented 3rd time in October
Three Months Ended September 30, 2025 Results Compared to Three Months Ended September 30, 2024
Revenue rose
Gross profit increased
Total operating expenses exclusive of fair value movements related to the outperformance of Odds Holdings of
Net loss attributable to shareholders of
Adjusted EBITDA increased
Operating cash flow was
As of September 30, 2025, the Company had total cash of
In the third quarter, the Company repurchased 562,222 shares for total consideration of
2025 Outlook
Gambling.com Group adjusted its full-year guidance to reflect revenue of approximately
The revenue guidance represents
Financial Highlights Nine Months Ended September 30, 2025 vs. Nine Months Ended September 30, 2024 |
||||||||
(USD in thousands, except per share data, unaudited) |
||||||||
|
Nine Months Ended September 30, |
|
Change |
|||||
|
2025 |
|
2024 |
|
% |
|||
Revenue |
119,211 |
|
|
91,874 |
|
|
30 |
% |
Net (loss) income for the period attributable to shareholders |
(6,041 |
) |
|
22,746 |
|
|
(127 |
)% |
Net (loss) income per share attributable to shareholders, diluted |
(0.17 |
) |
|
0.62 |
|
|
(127 |
)% |
Net (loss) income margin |
(5 |
)% |
|
25 |
% |
|
|
|
Adjusted net income for the period attributable to shareholders |
39,612 |
|
|
30,020 |
|
|
32 |
% |
Adjusted net income per share attributable to shareholders, diluted (1) |
1.11 |
|
|
0.82 |
|
|
35 |
% |
Adjusted EBITDA (1) |
42,552 |
|
|
33,955 |
|
|
25 |
% |
Adjusted EBITDA Margin (1) |
36 |
% |
|
37 |
% |
|
|
|
Cash flows generated by operating activities |
29,051 |
|
|
23,936 |
|
|
21 |
% |
Adjusted Free Cash Flow (1) |
28,766 |
|
|
28,417 |
|
|
1 |
% |
| __________ |
(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, November 13, 2025, at 8:00 a.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, Adjusted 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 and nine months ended September 30, 2025 and 2024 in the Company's reporting currency and constant currency. |
|||||||||||||||||||||||
|
Reporting Currency |
|
Constant
|
|
Reporting Currency |
|
Constant Currency |
||||||||||||||||
|
Three Months Ended September 30, |
|
Change |
|
Change |
|
Nine Months Ended September 30, |
|
Change |
|
Change |
||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
||||||||
Revenue |
38,982 |
|
|
32,118 |
|
|
21 |
% |
|
15 |
% |
|
119,211 |
|
|
91,874 |
|
|
30 |
% |
|
27 |
% |
Cost of sales |
(3,410 |
) |
|
(1,683 |
) |
|
103 |
% |
|
91 |
% |
|
(8,369 |
) |
|
(5,351 |
) |
|
56 |
% |
|
53 |
% |
Gross profit |
35,572 |
|
|
30,435 |
|
|
17 |
% |
|
10 |
% |
|
110,842 |
|
|
86,523 |
|
|
28 |
% |
|
25 |
% |
Sales and marketing expenses |
(15,905 |
) |
|
(10,815 |
) |
|
47 |
% |
|
39 |
% |
|
(45,990 |
) |
|
(31,021 |
) |
|
48 |
% |
|
45 |
% |
Technology expenses |
(6,049 |
) |
|
(3,616 |
) |
|
67 |
% |
|
58 |
% |
|
(17,913 |
) |
|
(10,044 |
) |
|
78 |
% |
|
74 |
% |
General and administrative expenses |
(7,655 |
) |
|
(6,041 |
) |
|
27 |
% |
|
20 |
% |
|
(23,686 |
) |
|
(18,582 |
) |
|
27 |
% |
|
24 |
% |
Movements in credit losses allowance and write-offs |
124 |
|
|
(360 |
) |
|
(134 |
)% |
|
(132 |
)% |
|
(347 |
) |
|
(1,061 |
) |
|
(67 |
)% |
|
(68 |
)% |
Fair value movement on contingent consideration |
(7,531 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
|
(29,163 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
Operating (loss) profit |
(1,444 |
) |
|
9,603 |
|
|
(115 |
)% |
|
(114 |
)% |
|
(6,257 |
) |
|
25,815 |
|
|
(124 |
)% |
|
(124 |
)% |
Finance income |
512 |
|
|
551 |
|
|
(7 |
)% |
|
(12 |
)% |
|
8,836 |
|
|
1,725 |
|
|
412 |
% |
|
400 |
% |
Finance expenses |
(2,529 |
) |
|
(1,052 |
) |
|
140 |
% |
|
127 |
% |
|
(7,348 |
) |
|
(2,396 |
) |
|
207 |
% |
|
199 |
% |
(Loss) income before tax |
(3,461 |
) |
|
9,102 |
|
|
(138 |
)% |
|
(136 |
)% |
|
(4,769 |
) |
|
25,144 |
|
|
(119 |
)% |
|
(119 |
)% |
Income tax charge |
(399 |
) |
|
(593 |
) |
|
(33 |
)% |
|
(36 |
)% |
|
(1,272 |
) |
|
(2,398 |
) |
|
(47 |
)% |
|
(48 |
)% |
Net income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
|
(145 |
)% |
|
(143 |
)% |
|
(6,041 |
) |
|
22,746 |
|
|
(127 |
)% |
|
(126 |
)% |
Other comprehensive income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Items that are or may be reclassified subsequently to profit or loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Exchange differences on translating foreign currencies |
155 |
|
|
4,309 |
|
|
(96 |
)% |
|
(97 |
)% |
|
5,568 |
|
|
794 |
|
|
601 |
% |
|
584 |
% |
Cash flow hedge - effective portion of changes in fair value |
615 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
(2,435 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
Cash flow hedges - reclassified to profit or loss |
73 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
2,386 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Related tax |
(86 |
) |
|
— |
|
|
100 |
% |
|
100 |
% |
|
6 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Other comprehensive income for the period, net of tax |
757 |
|
|
4,309 |
|
|
(82 |
)% |
|
(83 |
)% |
|
5,525 |
|
|
794 |
|
|
596 |
% |
|
579 |
% |
Total comprehensive income for the period attributable to shareholders |
(3,103 |
) |
|
12,818 |
|
|
(124 |
)% |
|
(123 |
)% |
|
(516 |
) |
|
23,540 |
|
|
(102 |
)% |
|
(102 |
)% |
Consolidated Statements of Financial Position (Unaudited) |
|||||
(USD in thousands) |
|||||
|
SEPTEMBER 30,
|
|
DECEMBER 31,
|
||
ASSETS |
|
|
|
||
Non-current assets |
|
|
|
||
Property and equipment |
2,253 |
|
|
1,833 |
|
Right-of-use assets |
4,529 |
|
|
4,632 |
|
Intangible assets |
261,917 |
|
|
130,811 |
|
Other non-current asset |
360 |
|
|
— |
|
Deferred tax asset |
4,799 |
|
|
6,418 |
|
Total non-current assets |
273,858 |
|
|
143,694 |
|
Current assets |
|
|
|
||
Trade and other receivables |
23,902 |
|
|
21,160 |
|
Cash and cash equivalents |
7,355 |
|
|
13,729 |
|
Total current assets |
31,257 |
|
|
34,889 |
|
Total assets |
305,115 |
|
|
178,583 |
|
EQUITY AND LIABILITIES |
|
|
|
||
Equity |
|
|
|
||
Share capital |
— |
|
|
— |
|
Capital reserve |
90,455 |
|
|
78,037 |
|
Treasury shares |
(34,679 |
) |
|
(29,998 |
) |
Share-based compensation reserve |
13,899 |
|
|
10,624 |
|
Foreign exchange translation deficit |
(5,244 |
) |
|
(10,812 |
) |
Hedging reserve |
(43 |
) |
|
— |
|
Retained earnings |
69,296 |
|
|
75,337 |
|
Total equity |
133,684 |
|
|
123,188 |
|
Non-current liabilities |
|
|
|
||
Trade and other payables |
947 |
|
|
— |
|
Lease liability |
3,871 |
|
|
3,819 |
|
Deferred payables |
439 |
|
|
— |
|
Deferred tax liability |
6,955 |
|
|
2,258 |
|
Contingent consideration |
16,119 |
|
|
— |
|
Borrowings |
73,108 |
|
|
19,582 |
|
Derivative financial instrument |
2,318 |
|
|
— |
|
Total non-current liabilities |
103,757 |
|
|
25,659 |
|
Current liabilities |
|
|
|
||
Trade and other payables |
12,108 |
|
|
10,205 |
|
Deferred income |
5,421 |
|
|
2,616 |
|
Contingent consideration |
38,485 |
|
|
— |
|
Deferred consideration |
— |
|
|
11,277 |
|
Borrowings and accrued interest |
9,992 |
|
|
3,349 |
|
Lease liability |
1,228 |
|
|
1,213 |
|
Income tax payable |
440 |
|
|
1,076 |
|
Total current liabilities |
67,674 |
|
|
29,736 |
|
Total liabilities |
171,431 |
|
|
55,395 |
|
Total equity and liabilities |
305,115 |
|
|
178,583 |
|
Consolidated Statements of Cash Flows (Unaudited) |
|||||||||||
(USD in thousands) |
|||||||||||
|
Three months ended September 30, |
|
Nine Months Ended September 30, |
||||||||
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||
Cash flow from operating activities |
|
|
|
|
|
|
|
||||
(Loss) income before tax |
(3,461 |
) |
|
9,102 |
|
|
(4,769 |
) |
|
25,144 |
|
Finance (income) expense, net |
2,017 |
|
|
501 |
|
|
(1,488 |
) |
|
671 |
|
Income tax paid |
(2,106 |
) |
|
(131 |
) |
|
(10,107 |
) |
|
(1,571 |
) |
Adjustments for non-cash items: |
|
|
|
|
|
|
|
||||
Depreciation and amortization |
3,577 |
|
|
1,801 |
|
|
10,726 |
|
|
4,046 |
|
Movements in credit loss allowance and write-offs |
(124 |
) |
|
360 |
|
|
347 |
|
|
1,061 |
|
Share-based payment expense |
1,728 |
|
|
1,180 |
|
|
5,359 |
|
|
3,737 |
|
Fair value movement on contingent consideration |
7,531 |
|
|
— |
|
|
29,163 |
|
|
— |
|
Payment of deferred consideration |
— |
|
|
— |
|
|
— |
|
|
(7,156 |
) |
Cash flows from operating activities before changes in working capital |
9,162 |
|
|
12,813 |
|
|
29,231 |
|
|
25,932 |
|
Changes in working capital |
|
|
|
|
|
|
|
||||
Trade and other receivables |
519 |
|
|
535 |
|
|
2,321 |
|
|
571 |
|
Trade and other payables |
1,230 |
|
|
1,588 |
|
|
(2,501 |
) |
|
(2,567 |
) |
Cash flows generated by operating activities |
10,911 |
|
|
14,936 |
|
|
29,051 |
|
|
23,936 |
|
Cash flows from investing activities |
|
|
|
|
|
|
|
||||
Acquisition of property and equipment |
(199 |
) |
|
(274 |
) |
|
(736 |
) |
|
(1,188 |
) |
Acquisition of intangible assets |
— |
|
|
(469 |
) |
|
— |
|
|
(21,074 |
) |
Capitalization of internally developed intangibles |
(1,081 |
) |
|
(422 |
) |
|
(2,872 |
) |
|
(1,487 |
) |
Acquisition of subsidiaries, net of cash acquired |
(6,736 |
) |
|
— |
|
|
(70,374 |
) |
|
— |
|
Interest received from bank deposits |
11 |
|
|
14 |
|
|
98 |
|
|
118 |
|
Payment of deferred consideration in relation to business combinations |
— |
|
|
— |
|
|
(10,803 |
) |
|
(10,044 |
) |
Cash flows used in investing activities |
(8,005 |
) |
|
(1,151 |
) |
|
(84,687 |
) |
|
(33,675 |
) |
Cash flows from financing activities |
|
|
|
|
|
|
|
||||
Exercise of options |
40 |
|
|
697 |
|
|
628 |
|
|
1,254 |
|
Treasury shares acquired |
(4,532 |
) |
|
(12,445 |
) |
|
(4,531 |
) |
|
(22,195 |
) |
Proceeds from borrowings |
— |
|
|
— |
|
|
94,500 |
|
|
45,560 |
|
Transaction costs related to borrowings |
(22 |
) |
|
27,560 |
|
|
(6,027 |
) |
|
(847 |
) |
Repayment of borrowings |
(5,625 |
) |
|
(21,060 |
) |
|
(29,006 |
) |
|
(21,060 |
) |
Repayment of debt assumed in a business combination |
(393 |
) |
|
— |
|
|
(393 |
) |
|
— |
|
Repayment of other non-current liability assumed in a business combination |
(206 |
) |
|
— |
|
|
(206 |
) |
|
— |
|
Principal proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
2,813 |
|
|
— |
|
|
5,625 |
|
|
— |
|
Interest proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
1,281 |
|
|
— |
|
|
2,579 |
|
|
— |
|
Principal payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
(2,903 |
) |
|
— |
|
|
(5,804 |
) |
|
— |
|
Interest payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities |
(870 |
) |
|
— |
|
|
(1,753 |
) |
|
— |
|
Interest payment attributable to third party borrowings |
(3,377 |
) |
|
(371 |
) |
|
(5,252 |
) |
|
(545 |
) |
Interest payment attributable to deferred consideration settled in relation to asset acquisitions and business combinations |
— |
|
|
|
|
(675 |
) |
|
(1,382 |
) |
|
Principal paid on lease liability |
(284 |
) |
|
(229 |
) |
|
(747 |
) |
|
(483 |
) |
Interest paid on lease liability |
(84 |
) |
|
(83 |
) |
|
(236 |
) |
|
(172 |
) |
Cash flows generated from financing activities |
(14,162 |
) |
|
(5,931 |
) |
|
48,702 |
|
|
130 |
|
Net movement in cash and cash equivalents |
(11,256 |
) |
|
7,854 |
|
|
(6,934 |
) |
|
(9,609 |
) |
Cash and cash equivalents at the beginning of the period |
18,667 |
|
|
7,523 |
|
|
13,729 |
|
|
25,429 |
|
Net foreign exchange differences on cash and cash equivalents |
(56 |
) |
|
346 |
|
|
560 |
|
|
(97 |
) |
Cash and cash equivalents at the end of the period |
7,355 |
|
|
15,723 |
|
|
7,355 |
|
|
15,723 |
|
|
|
|
|
|
|
|
|
||||
Supplemental non-cash |
|
|
|
|
|
|
|
||||
Right-of-use assets |
93 |
|
|
3,982 |
|
|
602 |
|
|
4,077 |
|
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 September 30, |
|
Reporting Currency
|
|
Constant Currency Change |
|
Nine Months Ended September 30, |
|
Reporting Currency
|
|
Constant Currency Change |
||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
||||||
Net (loss) income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
(145 |
)% |
|
(143 |
)% |
|
(6,041 |
) |
|
22,746 |
|
(127 |
)% |
|
(126 |
)% |
Weighted-average number of ordinary shares, basic |
35,582,412 |
|
|
35,592,252 |
|
|
|
|
|
35,612,028 |
|
|
36,466,391 |
|
|
|
|
||||
Net (loss) income per share attributable to shareholders, basic |
(0.11 |
) |
|
0.24 |
|
(146 |
)% |
|
(144 |
)% |
|
(0.17 |
) |
|
0.62 |
|
(127 |
)% |
|
(127 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net (loss) income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
(145 |
)% |
|
(143 |
)% |
|
(6,041 |
) |
|
22,746 |
|
(127 |
)% |
|
(126 |
)% |
Weighted-average number of ordinary shares, diluted |
35,582,412 |
|
|
35,833,767 |
|
|
|
|
|
35,612,028 |
|
|
36,750,150 |
|
|
|
|
||||
Net (loss) income per share attributable to shareholders, diluted |
(0.11 |
) |
|
0.24 |
|
(146 |
)% |
|
(144 |
)% |
|
(0.17 |
) |
|
0.62 |
|
(127 |
)% |
|
(127 |
)% |
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) Cost Per Acquisition (“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 and other revenue includes revenue from arrangements not based on the referred players and includes advertising on our platform, onboarding fees and fees and commissions from ticketing. For advertising and other revenue, revenue is recognized on a straight-line basis over the term of the contract.
Data
Subscription. Data revenue consists of consumer and enterprise subscription revenue from data, data analytics and data syndication services.
|
Three Months Ended September 30, |
|
|
|
As a Percentage
|
|
Nine Months Ended September 30, |
|
|
|
As a Percentage
|
||||||||||||||
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
||||||
Marketing |
29,796 |
|
29,846 |
|
— |
% |
|
76 |
% |
|
93 |
% |
|
89,907 |
|
85,698 |
|
5 |
% |
|
75 |
% |
|
93 |
% |
Data |
9,186 |
|
2,272 |
|
304 |
% |
|
24 |
% |
|
7 |
% |
|
29,304 |
|
6,176 |
|
374 |
% |
|
25 |
% |
|
7 |
% |
Total revenues |
38,982 |
|
32,118 |
|
21 |
% |
|
100 |
% |
|
100 |
% |
|
119,211 |
|
91,874 |
|
30 |
% |
|
100 |
% |
|
100 |
% |
The Company presents revenue as disaggregated by market based on the location of end user as follows:
|
Three Months Ended September 30, |
|
|
|
As a Percentage
|
|
Nine Months Ended September 30, |
|
|
|
As a Percentage
|
||||||||||||||
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
||||||
|
19,802 |
|
12,786 |
|
55 |
% |
|
51 |
% |
|
40 |
% |
|
59,901 |
|
39,859 |
|
50 |
% |
|
50 |
% |
|
43 |
% |
|
9,619 |
|
9,800 |
|
(2 |
)% |
|
25 |
% |
|
31 |
% |
|
31,759 |
|
28,631 |
|
11 |
% |
|
27 |
% |
|
31 |
% |
Other |
6,859 |
|
6,515 |
|
5 |
% |
|
18 |
% |
|
20 |
% |
|
19,435 |
|
16,098 |
|
21 |
% |
|
16 |
% |
|
18 |
% |
Rest of the world |
2,702 |
|
3,017 |
|
(10 |
)% |
|
6 |
% |
|
9 |
% |
|
8,116 |
|
7,286 |
|
11 |
% |
|
7 |
% |
|
8 |
% |
Total revenues |
38,982 |
|
32,118 |
|
21 |
% |
|
100 |
% |
|
100 |
% |
|
119,211 |
|
91,874 |
|
30 |
% |
|
100 |
% |
|
100 |
% |
The Company presents disaggregated revenue by monetization type as follows:
|
Three Months Ended September 30, |
|
|
|
As a Percentage
|
|
Nine Months Ended September 30, |
|
|
|
As a Percentage
|
||||||||||||||
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
||||||
Performance marketing |
24,003 |
|
25,082 |
|
(4 |
)% |
|
62 |
% |
|
78 |
% |
|
74,682 |
|
72,674 |
|
3 |
% |
|
63 |
% |
|
79 |
% |
Subscription |
9,186 |
|
2,272 |
|
304 |
% |
|
24 |
% |
|
7 |
% |
|
29,304 |
|
6,176 |
|
374 |
% |
|
25 |
% |
|
7 |
% |
Advertising & other |
5,793 |
|
4,764 |
|
22 |
% |
|
15 |
% |
|
15 |
% |
|
15,225 |
|
13,024 |
|
17 |
% |
|
12 |
% |
|
14 |
% |
Total revenues |
38,982 |
|
32,118 |
|
21 |
% |
|
100 |
% |
|
100 |
% |
|
119,211 |
|
91,874 |
|
30 |
% |
|
100 |
% |
|
100 |
% |
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 September 30, |
|
|
|
As a Percentage
|
|
Nine Months Ended September 30, |
|
|
|
As a Percentage
|
||||||||||||||
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Change |
|
2025 |
|
2024 |
||||||
Casino |
23,174 |
|
24,835 |
|
(7 |
)% |
|
59 |
% |
|
77 |
% |
|
71,487 |
|
66,719 |
|
7 |
% |
|
60 |
% |
|
72 |
% |
Sports |
15,003 |
|
6,955 |
|
116 |
% |
|
39 |
% |
|
22 |
% |
|
45,643 |
|
24,566 |
|
86 |
% |
|
38 |
% |
|
27 |
% |
Other |
805 |
|
328 |
|
145 |
% |
|
2 |
% |
|
1 |
% |
|
2,081 |
|
589 |
|
253 |
% |
|
2 |
% |
|
1 |
% |
Total revenues |
38,982 |
|
32,118 |
|
21 |
% |
|
100 |
% |
|
100 |
% |
|
119,211 |
|
91,874 |
|
30 |
% |
|
100 |
% |
|
100 |
% |
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, restructuring costs, 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 ordinary 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 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, restructuring costs, and all other items associated with our acquisitions, during the limited period where these items are incurred. The unwinding of deferred consideration is associated with the unwinding of the discount applied to the valuation of the deferred consideration for the acquisition of the Freebets.com Assets during the nine months ended September 30, 2025. The unwinding of deferred consideration and employee bonuses incurred until April 2024 relate to the Company’s acquisition of RotoWire 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
|
|
Reporting Currency |
|
Constant Currency |
||||||||||||||||
|
Three months ended September 30, |
|
Change |
|
Change |
|
Nine Months Ended September 30, |
|
Change |
|
Change |
||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
||||||||
|
(USD in thousands) |
|
|
|
|
|
(USD in thousands) |
|
|
|
|
||||||||||||
Revenue |
38,982 |
|
|
32,118 |
|
|
21 |
% |
|
15 |
% |
|
119,211 |
|
|
91,874 |
|
|
30 |
% |
|
27 |
% |
Net (loss) income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
|
(145 |
)% |
|
(143 |
)% |
|
(6,041 |
) |
|
22,746 |
|
|
(127 |
)% |
|
(126 |
)% |
Net (loss) income margin |
(10 |
)% |
|
26 |
% |
|
|
|
|
|
(5 |
)% |
|
25 |
% |
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Net (loss) income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
|
(145 |
)% |
|
(143 |
)% |
|
(6,041 |
) |
|
22,746 |
|
|
(127 |
)% |
|
(126 |
)% |
Fair value movement on contingent consideration (1) |
7,531 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
29,163 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Unwinding of deferred consideration (1) |
— |
|
|
396 |
|
|
(100 |
)% |
|
(100 |
)% |
|
211 |
|
|
1,075 |
|
|
(80 |
)% |
|
(81 |
)% |
Employees' bonuses related to acquisition(1) |
346 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
936 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Deferred revenue fair value adjustment (1) |
325 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
975 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Share-based payment and related expense (1) |
1,728 |
|
|
1,180 |
|
|
46 |
% |
|
38 |
% |
|
5,359 |
|
|
3,737 |
|
|
43 |
% |
|
40 |
% |
Acquisition related costs (1) |
485 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
1,188 |
|
|
357 |
|
|
233 |
% |
|
225 |
% |
Restructuring costs (1) |
462 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
462 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Amortization expense related to acquired businesses and assets (2) |
2,513 |
|
|
1,067 |
|
|
136 |
% |
|
122 |
% |
|
7,961 |
|
|
2,297 |
|
|
247 |
% |
|
238 |
% |
Tax effect of the adjusting items (2) |
(185 |
) |
|
(88 |
) |
|
110 |
% |
|
97 |
% |
|
(602 |
) |
|
(192 |
) |
|
214 |
% |
|
207 |
% |
Adjusted net income for the period attributable to shareholders |
9,345 |
|
|
11,064 |
|
|
(16 |
)% |
|
(20 |
)% |
|
39,612 |
|
|
30,020 |
|
|
32 |
% |
|
29 |
% |
| __________ |
(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. |
|
Reporting Currency |
|
Constant
|
|
Reporting Currency |
|
Constant Currency |
|||||||||||||||
|
Three months ended September 30, |
|
Change |
|
Change |
|
Nine Months Ended September 30, |
|
Change |
|
Change |
|||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
|||||||
Net (loss) income per share attributable to shareholders, basic |
(0.11 |
) |
|
0.24 |
|
(146 |
)% |
|
(144 |
)% |
|
(0.17 |
) |
|
0.62 |
|
|
(127 |
)% |
|
(127 |
)% |
Effect of adjustments for fair value movements on contingent consideration, basic |
0.21 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
0.82 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
Effect of adjustments for unwinding of deferred consideration, basic |
0.00 |
|
|
0.01 |
|
(100 |
)% |
|
(100 |
)% |
|
0.01 |
|
|
0.03 |
|
|
(67 |
)% |
|
(67 |
)% |
Effect of adjustments for employees' bonuses related to acquisition, basic |
0.01 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
0.03 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
Effect of adjustments for deferred revenue fair value adjustment, basic |
0.01 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
0.03 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
Effect of adjustments for share-based payment and related expense, basic |
0.05 |
|
|
0.03 |
|
67 |
% |
|
25 |
% |
|
0.15 |
|
|
0.10 |
|
|
50 |
% |
|
45 |
% |
Effect of adjustments for acquisition related costs, basic |
0.01 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
0.03 |
|
|
0.02 |
|
|
50 |
% |
|
200 |
% |
Effect of adjustments for restructuring costs, basic |
0.01 |
|
|
0.00 |
|
100 |
% |
|
100 |
% |
|
0.01 |
|
|
0.00 |
|
|
100 |
% |
|
100 |
% |
Effect of adjustments for amortization expense related to acquired businesses and assets, basic |
0.08 |
|
|
0.03 |
|
167 |
% |
|
167 |
% |
|
0.22 |
|
|
0.06 |
|
|
267 |
% |
|
267 |
% |
Effect of tax adjustments, basic |
(0.01 |
) |
|
0.00 |
|
(100 |
)% |
|
(100 |
)% |
|
(0.02 |
) |
|
(0.01 |
) |
|
100 |
% |
|
100 |
% |
Adjusted net income per share attributable to shareholders, basic |
0.26 |
|
|
0.31 |
|
(16 |
)% |
|
(21 |
)% |
|
1.11 |
|
|
0.82 |
|
|
35 |
% |
|
32 |
% |
Net (loss) income per share attributable to ordinary shareholders, diluted |
(0.11 |
) |
|
0.24 |
|
(146 |
)% |
|
(144 |
)% |
|
(0.17 |
) |
|
0.62 |
|
|
(127 |
)% |
|
(127 |
)% |
Adjusted net income per share attributable to shareholders, diluted |
0.26 |
|
|
0.31 |
|
(16 |
)% |
|
(18 |
)% |
|
1.11 |
|
|
0.82 |
|
|
35 |
% |
|
32 |
% |
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
|
|
Reporting Currency |
|
Constant Currency |
||||||||||||||||
|
Three Months Ended September 30, |
|
Change |
|
Change |
|
Nine Months Ended September 30, |
|
Change |
|
Change |
||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
||||||||
|
(USD in thousands) |
|
|
|
|
(USD in thousands) |
|
|
|
||||||||||||||
Net income for the period attributable to shareholders |
(3,860 |
) |
|
8,509 |
|
|
(145 |
)% |
|
(143 |
)% |
|
(6,041 |
) |
|
22,746 |
|
|
(127 |
)% |
|
(126 |
)% |
Add back (deduct): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Interest expenses on borrowings and lease liability |
1,832 |
|
|
450 |
|
|
307 |
% |
|
284 |
% |
|
5,673 |
|
|
929 |
|
|
511 |
% |
|
495 |
% |
Interest income |
(11 |
) |
|
(14 |
) |
|
(21 |
)% |
|
(27 |
)% |
|
(101 |
) |
|
(118 |
) |
|
(14 |
)% |
|
(17 |
)% |
Income tax charge |
399 |
|
|
593 |
|
|
(33 |
)% |
|
(36 |
)% |
|
1,272 |
|
|
2,398 |
|
|
(47 |
)% |
|
(48 |
)% |
Depreciation expense |
159 |
|
|
111 |
|
|
43 |
% |
|
35 |
% |
|
442 |
|
|
252 |
|
|
75 |
% |
|
71 |
% |
Amortization expense |
3,418 |
|
|
1,690 |
|
|
102 |
% |
|
91 |
% |
|
10,284 |
|
|
3,794 |
|
|
171 |
% |
|
164 |
% |
EBITDA |
1,937 |
|
|
11,339 |
|
|
(83 |
)% |
|
(84 |
)% |
|
11,529 |
|
|
30,001 |
|
|
(62 |
)% |
|
(63 |
)% |
Share-based payment and related expense |
1,728 |
|
|
1,180 |
|
|
46 |
% |
|
38 |
% |
|
5,359 |
|
|
3,737 |
|
|
43 |
% |
|
40 |
% |
Fair value movement on contingent consideration |
7,531 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
29,163 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Deferred revenue fair value adjustment |
325 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
975 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Unwinding of deferred consideration |
— |
|
|
396 |
|
|
(100 |
)% |
|
(100 |
)% |
|
211 |
|
|
1,075 |
|
|
(80 |
)% |
|
(81 |
)% |
Foreign currency translation losses (gains), net |
(7 |
) |
|
(385 |
) |
|
(98 |
)% |
|
(98 |
)% |
|
(7,806 |
) |
|
(1,308 |
) |
|
497 |
% |
|
483 |
% |
Cash flow hedge - ineffective portion of changes in fair value |
2 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
13 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Other finance results |
201 |
|
|
54 |
|
|
272 |
% |
|
253 |
% |
|
522 |
|
|
93 |
|
|
461 |
% |
|
448 |
% |
Restructuring costs |
462 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
462 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Acquisition related costs (1) |
485 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
1,188 |
|
|
357 |
|
|
233 |
% |
|
225 |
% |
Employees' bonuses related to acquisition |
346 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
|
936 |
|
|
— |
|
|
100 |
% |
|
100 |
% |
Adjusted EBITDA |
13,010 |
|
|
12,584 |
|
|
3 |
% |
|
(2 |
)% |
|
42,552 |
|
|
33,955 |
|
|
25 |
% |
|
22 |
% |
| __________ |
(1) The acquisition costs are related to historical and contemplated business combinations of the Group. |
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
|
|
Reporting Currency |
|
Constant
|
||||||||||||||||
|
Three Months Ended
|
|
Change |
|
Change |
|
Nine Months Ended
|
|
Change |
|
Change |
||||||||||||
|
2025 |
|
2024 |
|
% |
|
% |
|
2025 |
|
2024 |
|
% |
|
% |
||||||||
|
(USD in thousands, except margin) |
|
|
|
|
(in thousands USD, except margin) |
|
|
|
||||||||||||||
Revenue |
38,982 |
|
|
32,118 |
|
|
21 |
% |
|
15 |
% |
|
119,211 |
|
|
91,874 |
|
|
30 |
% |
|
27 |
% |
Adjusted EBITDA |
13,010 |
|
|
12,584 |
|
|
3 |
% |
|
(2 |
)% |
|
42,552 |
|
|
33,955 |
|
|
25 |
% |
|
22 |
% |
Adjusted EBITDA Margin |
33 |
% |
|
39 |
% |
|
|
|
|
|
36 |
% |
|
37 |
% |
|
|
|
|
||||
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 and Adjusted Free Cash Flow
Free Cash Flow is a non-IFRS liquidity financial measure defined as cash flow from operating activities adjusted for cash flows related to acquisitions less capital expenditures. 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.
Adjusted Free Cash Flow is a non-IFRS liquidity financial measure defined as Free Cash Flow adjusted to exclude the effect of certain non-recurring payments.
We believe Free Cash Flow and Adjusted Free Cash Flow are useful to our management team as measures of financial performance as they measure our ability to generate additional cash from our operations. While we use Free Cash Flow and Adjusted Free Cash Flow as tools to enhance our understanding of certain aspects of our financial performance, we do not believe that Free Cash Flow and Adjusted Free Cash Flow are substitutes for, or superior to, the information provided by IFRS metrics. As such, the presentation of Free Cash Flow and Adjusted Free Cash Flow are not intended to be considered in isolation or as substitutes for any measures prepared in accordance with IFRS.
The primary limitation associated with the use of Free Cash Flow and Adjusted Free Cash Flow as compared to IFRS metrics is that Free Cash Flow and Adjusted Free Cash Flow do not represent residual cash flows available for discretionary expenditures because these measures do not deduct the payments required for debt payments and other obligations or payments made for acquisitions. Free Cash Flow and Adjusted Free Cash Flow as we define them 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 and Adjusted 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 September 30, |
|
Change |
|
Nine Months Ended September 30, |
|
Change |
||||||||||
|
2025 |
|
2024 |
|
% |
|
2025 |
|
2024 |
|
% |
||||||
|
(in thousands USD, unaudited) |
|
|
|
(USD in thousands, unaudited) |
|
|
||||||||||
Cash flows generated by operating activities |
10,911 |
|
|
14,936 |
|
|
(27 |
)% |
|
29,051 |
|
|
23,936 |
|
|
21 |
% |
Adjustment for items presented in operating activities: |
|
|
|
|
|
|
|
|
|
|
|
||||||
Payment of deferred consideration |
— |
|
|
— |
|
|
— |
% |
|
— |
|
|
7,156 |
|
|
(100 |
)% |
Adjustment for items presenting in investing activities: |
|
|
|
|
|
|
|
|
|
|
|
||||||
Capital Expenditures |
|
|
|
|
|
|
|
|
|
|
|
||||||
Acquisition of property and equipment |
(199 |
) |
|
(274 |
) |
|
(27 |
)% |
|
(736 |
) |
|
(1,188 |
) |
|
(38 |
)% |
Capitalization of internally developed intangibles |
(1,081 |
) |
|
(422 |
) |
|
156 |
% |
|
(2,872 |
) |
|
(1,487 |
) |
|
93 |
% |
Free Cash Flow |
9,631 |
|
|
14,240 |
|
|
(32 |
)% |
|
25,443 |
|
|
28,417 |
|
|
(10 |
)% |
Tax and other payments in relation to acquisition |
— |
|
|
— |
|
|
— |
% |
|
3,323 |
|
|
— |
|
|
100 |
% |
Adjusted Free Cash Flow |
9,631 |
|
|
14,240 |
|
|
(32 |
)% |
|
28,766 |
|
|
28,417 |
|
|
1 |
% |
1. One-time tax and other payments are related to income and payroll effects of distributions to the Sellers of OddsJam, which were acquired as part of the business combination. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20251113612096/en/
For further information, please contact:
Investors: Peter McGough, Gambling.com Group, investors@gdcgroup.com
Richard Land, Alliance Advisors, gambir@allianceadvisors.com
Media: Christine Doh, Gambling.com Group; media@gdcgroup.com
Source: Gambling.com Group Limited
