SBC News Voice of the Sports Betting Industry
Gambling.com Group has reiterated its financial targets for 2025, carrying confidence from record results achieved in 2024.
The online gaming affiliate group revealed revenue of 17% to $127.1m (2023: $108.6m) white adjusted EBITDA was up 33% to $48.7m ($36.7m) with a margin of 38% (34%).
A transformative year for the Nasdaq media group, which ended with the company joining a wave of affiliate M&A activity saw improved cash flow for the firm, with the figure rising 11% year-over-year from $17m to $37.6m.
Despite closing the year off with two major acquisitions, increased costs and expenditure have not bitten into the company’s net income. Profit for the year stood at $30.7m, 68% more than the $18.2m recorded the year prior.
Charles Gillespie, CEO and Co-Founder of Gambling.com Group, commented, “Our record fourth quarter and full-year results were driven by our team’s prioritisation of iGaming across the markets where we operate.
“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 1st 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.”
As stated above, Gambling.com engaged in extensive M&A activity during 2024.. The firm first acquired the North American assets of its betting affiliate counterpart XLMedia (XLM), finalising the takeover in April.
Towards the end of the year it secured terms to acquire the parent company of OddsJam, Odds Holdings Inc, offering an initial consideration of £80m. These expansions of its affiliate network via acquisition have helped position the firm for further growth in 2025, market conditions allowing.
Closing the last three months of 2024, the group reported revenue growth of 9% to $35.3m (2023: $32.5m) white adjusted EBITDA was up 39% to $17.7m ($15.6m) with a margin of 42% (32%).
An active year which ended with the company joining a wave of affiliate MMA activity saw improved cash flow for the firm, with the figure rising 11% year-over-year from $17m to $37.6m. Profit at the end of Q4 was 24% more than the $6m recorded the year prior, standing at $7.9m.
Looking to the remainder of the trading year, Gmalbing.com expects full year revenue between $170m-174m along with adjusted EBITDA of between $67m-69m, with a margin of around 39.5%.
Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Fourth quarter revenue and Adjusted EBITDA increased 9% and 39% year-over-year, respectively, and over 80% of Adjusted EBITDA converted to free cash flow, reflecting the continued success of our strategies to optimise the returns from our global portfolio of owned and operated assets.
“As expected, we generated strong online casino growth across all our geographical regions, while our North American business continued to be resilient against challenging comparitives.
“As reflected in our full-year guidance, we expect to generate significant year-over-year revenue and Adjusted EBITDA growth in 2025, and we are well-positioned to carry this operating momentum forward.”
