Business
Gambling.com Group Reports Record First Quarter Results Including 36% Revenue Increase to $26.7 Million
Net Income Rises 47% to $6.6 Million and Adjusted EBITDA Increases 49% to $10.7 Million Raises 2023 Guidance to Revenue of $95-$99 Million and Adjusted
About this update from Gambling.com Group Limited
[{"type":"text","content":"\nNet Income Rises 47% to $6.6 Million and Adjusted EBITDA Increases 49% to $10.7 Million\n\n\nRaises 2023 Guidance to Revenue of $95-$99 Million and Adjusted EBITDA of $33-$37 Million\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nGambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a leading provider of digital marketing services for the global online gambling industry, today reported record first quarter financial results for the three-month period ended March 31, 2023. The Company also increased its guidance for full-year revenue and Adjusted EBITDA.\n\n\nFirst Quarter 2023 vs. First Quarter 2022 Financial Highlights\n(USD in thousands, except per share data, unaudited)\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n26,692\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n19,585\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n36\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nNet income for the period attributable to shareholders (1)\n\n\n\n\n\n\n6,595\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4,487\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n47\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nNet income per share attributable to shareholders, diluted (1)\n\n\n\n\n\n\n0.17\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n0.12\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n42\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted net income for the period attributable to shareholders (1)\n\n\n\n\n\n\n7,551\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4,487\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n68\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted net income per share attributable to shareholders, diluted (1)\n\n\n\n\n\n\n0.20\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n0.12\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n67\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted EBITDA (1)\n\n\n\n\n\n\n10,673\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n7,186\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n49\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted EBITDA Margin (1)\n\n\n\n\n\n\n40\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n37\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nCash flows generated by operating activities\n\n\n\n\n\n\n7,082\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n3,58...