Business
Gambling.com Group Reports Second Quarter 2024 Results and Raises 2024 Guidance
Second Quarter Revenue Increases 18% to Record $30.5 Million; Net Income Rises to $6.9 Million Record Second Quarter Adjusted EBITDA of $11.2 Million
About this update from Gambling.com Group Limited
[{"type":"text","content":"\n\nSecond Quarter Revenue Increases 18% to Record $30.5 Million; Net Income Rises to $6.9 Million\n\n\n\nRecord Second Quarter Adjusted EBITDA of $11.2 Million\n\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nGambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a fast-growing provider of digital marketing services for the global online gambling industry, today reported financial results for the second quarter ended June 30, 2024. The Company also raised its 2024 revenue and Adjusted EBITDA guidance as detailed below.\n\n\n“Our second quarter and year-to-date results highlight the incredible power of our high-intent audience and the clear value we create for our online gambling operator clients. Our team’s proven ability to dynamically manage our owned and operated assets to quickly address changes to the operating environment was evident in the second quarter’s strong topline and Adjusted EBITDA growth, and will continue to benefit us in the future,” commented Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group. “As we continue to execute at a high level, expand our footprint in the online gambling ecosystem and leverage industry growth opportunities, we continue to see a clear path towards our goal of $100 million in annual Adjusted EBITDA. Our significant share repurchase activity in the first half of this year underscores our confidence in the future of the business.”\n\n\nElias Mark, Chief Financial Officer of Gambling.com Group added, “Our second quarter performance was driven by our team’s faster than expected re-calibration of our portfolio, leading to accelerated performance of our owned and operated assets. Year-over-year second quarter revenue and Adjusted EBITDA growth of 18% and 19%, respectively, reflect very strong delivery of iGaming NDCs across Europe, including the United Kingdom, as well as resiliency in our North American business, against a challenging comparative prior-year period.”\n\n\n\n\nSecond Quarter 2024 vs. Second Quarter 2023 Financial Highlights\n\n\n\n\n\n\n\n\n(USD in thousands, except per share data, unaudited)\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n\n\n\nThree Months Ended June 30,\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\n2024\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\n\n\nRevenue\n\...