Gambling.com Group expects to post record full year revenue of $127.1 million in 2024, benefiting from a strong performance in the fourth quarter of the year.
In its preliminary results announced Wednesday, the New York-listed iGaming affiliate said that fourth quarter revenue would increase by around 8 per cent to $35.2 million, with net income up 22 per cent at $7.8 million.
As a result of the strong Q4 performance, full year revenue is expected to increase by around 17 per cent to $127.1 million, delivering net income of $30.5 million, up 67 per cent year-on-year.
“Our preliminary, record 2024 fourth quarter and full year results surpassed expectations due to our relentless focus on execution and the ability of our global portfolio of websites to continuously drive valuable, high intent traffic to our customers in a capital efficient manner,” said Gambling.com co-founder and CEO Charles Gillespie. “Our operating performance continues to be led by the strong growth trajectory and attractive unit economics of iGaming revenue across all our operating regions.”
Gambling.com has also introduced full year revenue guidance for 2025 of between $170 million and $174 million, with adjusted EBITDA slated to be between $67 million and $69 million.
This guidance assumes incremental adjusted EBITDA contributions of $14.5 million related to the recent acquisition of Odds Holdings, and excludes any benefit from new online sports betting state launches in the United States.
In 2024, adjusted EBITDA is expected to grow by 32 per cent to approximately $48.5 million, representing an adjusted EBITDA margin of 38 per cent.
“As reflected in our initial revenue and adjusted EBITDA guidance for 2025, we are confident that our great positioning will drive yet another year of record performance with impressive continued revenue, adjusted EBITDA and Free Cash Flow growth,” concluded Gillespie.
The company will release its 2024 fourth quarter and full year results before the market opens on Thursday 20 March.
Shares in Gambling.com Group Ltd (NASDAQ:GAMB) closed 1.13 per cent lower at $16.56 per share in New York Tuesday, and gained 2.23 per cent to $16.93 in pre-market trading Wednesday following the news.