Online gambling company, Gambling.com Group, records robust Q4 growth and plans for continued expansion in 2025.
Firing on All Cylinders: Gambling.com Group's Impressive Q4 Performance
The last quarter of 2024 saw a whopping 9% increase in Gambling.com Group's revenue, bumping it up to a staggering $35.3 million compared to the same period the year before. The Adjusted EBITDA soared by an impressive 39%, hitting $14.7 million. Net income attributable to shareholders leaped by a substantial 24%, setting the bar at $7.9 million.
Revenue's Skyrocket, Costs Plummet
Gross profit scaled up by an impressive 21%, reaching $33.1 million, thanks to "serious revenue growth and a $2.9m reduction in costs related to the company's media partnerships."
Focused on iGaming, Shooting for the Stars
CEO Charles Gillespie attributed the company's success to its strategic focus on iGaming markets. He stated, "Our record-breaking Q4 and full-year results are the result of our team's relentless pursuit of iGaming across the regions we operate. Our team shone in Q4, especially compared to the explosive growth of Q4 last year."
In the coming years, Gillespie expressed confidence in the company's expansion plans, particularly with the integration of Odds Holdings, Inc. He stressed that this acquisition would beef up Gambling.com Group's capabilities by providing sports data solutions, complementing its high-margin performance marketing business.
"We're staring down the barrel at growth and continued market dominance in our performance marketing business across all geographic regions in 2025, including North America," Gillespie added.
CFO Elas Mark echoed the optimistic sentiment. He highlighted the robust performance of the company's online casino operations across various regions, noting that North America remained unshaken despite facing stiff competition.
Mark stated, "What you see in our full-year projections is a significant year-over-year increase in revenue and Adjusted EBITDA in 2025. We're well-equipped to keep that operating momentum going."
With a crystal-clear strategy and remarkable financial results, Gambling.com Group is gearing up for further expansion in both iGaming and sports data services, positioning itself as a force to be reckoned with in the industry.
On the Horizon: A Seismic Shift for Gambling.com Group
- Odds Holdings Acquisition: In January 2025, Gambling.com Group sealed the deal on Odds Holdings, Inc. for a cool $80 million in cash and stock. This acquisition is expected to contribute approximately $14.5 million to Adjusted EBITDA in 2025.
- Expanded Credit Facility: The company struck a deal with Wells Fargo Bank, boosting its credit facility from $100 million to $165 million. This includes a $90 million revolving credit facility and a $75 million term loan facility, with a maturity extended to February 28, 2028.
- Global Presence: Gambling.com Group boasts ownership and operation of over 50 websites in various languages across 19 national markets, including substantial presence in North America through platforms such as OddsJam and OpticOdds.
2025 Forecast
- Revenue Prediction: For 2025, Gambling.com Group expects revenue of $170-174 million, representing a year-over-year growth of at least 20%. The consensus estimate for full-year revenue stands at $172.31 million.
- Adjusted EBITDA: The company anticipates Adjusted EBITDA of $67-69 million, representing a year-over-year growth of 35% to 40%.
- North America Expansion: While specifics on North America expansion are scarce, Gambling.com Group's plans, including the acquisition of Odds Holdings and the growth of platforms like OddsJam and OpticOods, are set to fuel its growth in the region.
All signs point to a monumental year for Gambling.com Group in 2025, as it leverages strategic acquisitions and financial enhancements to expand its presence in North America and beyond. The online gambling industry had better brace itself, as this powerhouse is on a roll.
Technology EnhancementThe integration of Odds Holdings, Inc. is set to beef up Gambling.com Group's capabilities by providing sports data solutions, complementing its high-margin performance marketing business, further leveraging technology for improved operations and services.
Technology-driven GrowthIn 2025, Gambling.com Group expects a year-over-year growth of at least 20% in revenue, which is attributed in part to the company's focus on technology and strategic acquisitions, positioning it for continued expansion and market dominance.
