Gambling.com Group earnings were up again. The company pulled in record revenue for Q4 2024, totaling $35.3 million. It also closed the year with a strong outlook for 2025, highlighting continued growth in performance marketing and new acquisitions.

  • Gambling.com Group earnings in Q4 2024 rose 9% year-over-year, reaching a record $35.3 million. The company reported over 145,000 new depositing customers, down 9% from the prior year due to a tough comparison with ESPNBet’s 2023 launch. Gross profit climbed 21% to $33.1 million, supported by a drop in cost of sales.

  • Adjusted EBITDA increased 39% to a record $14.7 million with a 42% margin, up from 32% the previous year. Net income reached $7.9 million, up from $6.3 million year-over-year. Adjusted net income rose 41% to $12.2 million, with earnings per share of $0.35.

  • Operating expenses jumped 21% to $23.3 million, mainly from added staff costs and amortization tied to the Freebets.com acquisition. Free cash flow doubled year-over-year to $13.2 million, reflecting operational efficiency. Operating cash flow also climbed to $13.7 million.

  • For all of 2024, full-year revenue, adjusted EBITDA, and Free Cash Flow increased 17%, 33%, and 81% respectively. CFO Elias Mark highlighted that over 80% of adjusted EBITDA converted to free cash flow. The company continues to focus on owned and operated assets for margin growth.

  • Revenue for the full year 2024 was $127.2 million (2023: $108.7 million), gross profit was $119.6 million (2023: $99.5 million) and adjusted EBITDA was $48.7 million (2023: $36.7 million).
  • The group repurchased 486,312 shares at an average price of $9.80. It won “Casino Affiliate of the Year” at the 2024 EGR Operator Awards. Gambling.com also expanded its credit facility to $165 million.

  • On January 1, 2025, it completed the $80 million acquisition of Odds Holdings, adding sports data services to its portfolio. The company expects Odds Holdings to contribute roughly $14.5 million in adjusted EBITDA in 2025. CEO Charles Gillespie said, “We anticipate growth and continued market share gains… including North America.”

  • Full-year 2025 guidance remains at $170–$174 million in revenue and $67–$69 million in adjusted EBITDA. This implies 35% revenue growth and 40% Adjusted EBITDA growth year-over-year. No new market launches are assumed, with Missouri expected but not included in forecasts.

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