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Kambi Reports Revenue Growth of 24% for Q2

After tax profits down to €2.5 million for the quarter

Kambi Reports Revenue Growth of 24% for Q2 - Wednesday, July 26th, 2023 9:50
Kambi revenue

Kambi Group has announced its financial results for the second quarter of 2023 revealing revenue growth of 24% year-on-year to €42.9 million.

According to the report, revenues for the quarter were driven by an operator trading margin of 9.9% and the acquisition of front-end technology specialist Shape Games for an initial €38.5 million.

The report also lists the company’s operating profit (EBIT) for the second quarter of 2023 at €3.7 million from a margin of 8.6%. As a result, EBIT for the first half of 2023 was €8.2 million at a margin of 9.4%.

Meanwhile, earnings before interest, taxes, and amortization (EBITA) for Q2 2023 was €5 million from a margin of 11.7%.  EBITA for the first half of the year came to €10.8 million at a margin of 12.4%.

Kambi Reports Revenue Growth of 24% for Q2 Kambi Reports Revenue Growth of 24% for Q2 Kambi Reports Revenue Growth of 24% for Q2

The quarter also saw Kambi sign partnership extensions with BetPlay, LeoVegas and Paf.

Kambi CEO Kristian Nylén, stated:

“The second quarter of the year was another encouraging period for Kambi as we made significant strategic progress towards executing our long-term growth strategy, including a tier-one partner signing, key partner renewals and the continued development of our AI trading capability.

During the quarter we delivered strong revenue growth of 24 per cent year-on-year, driven by new customers, the addition of Shape Games and a high operator trading margin. Operator turnover growth of 4 per cent was not as strong as revenue, impacted by rising foreign exchange headwinds, the dampening effect of a high trading margin and PENN Entertainment’s year-on-year decline in US market share. Excluding the impact of foreign exchange movements, EBITA (acq) increased by €2.8m year-on-year.”

He went on to add:

Kambi Reports Revenue Growth of 24% for Q2
Ciaran McEneaney

Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.