Gambling.com Group Limited · NASDAQ:GAMB
Gambling.com — Q1 2026 Earnings Presentation
44 slides from Gambling.com's earnings presentation, May 14, 2026
Slide 1: Leading provider of marketing and sports data services for the global online gambling industry
Leading provider of marketing and sports data services for the global online gambling industry March 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and any accompanying oral presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. P
Slide 3: Who We Are
Who We Are Gambling.com Group Limited (the “Group” or the “Company”) is a fast- growing provider of marketing and sports data services for the gambling industry. The Group generates revenue by sending new depositing customers (NDCs) to regulated online casinos and sportsbooks and by offering subscri
Slide 4: Marketing Business: Low Risk, High Return Platform for Customer Acquisition
Marketing Business: Low Risk, High Return Platform for Customer Acquisition Hotels acquire customers from Lenders and financial institutions Online casinos and sportsbooks comparison shopping websites like acquire customers through sites like acquire customers through sites like Booking.com and Hote
Slide 5: Data Business: Recurring Revenue from Consumer and Enterprise Subscriptions
Data Business: Recurring Revenue from Consumer and Enterprise Subscriptions Consumer Subscription Services Enterprise Subscription Services Consumers subscribe to monthly and annual packages Sports betting operators, prediction markets and market from OddsJam and RotoWire to access odds makers and m
Slide 6: At a Glance
At a Glance Strong Historical Revenue Growth (USD millions) $165.5 Founded in 2006; $165.5 M in Adj. EBITDA Margin 454,000 Players (1) 19 years in business Revenue of 35% in 2025 Generated for Clients in in 2025 2025 $127.2 $108.7 $76.5 $42.3 $19.1M Cash Flow 600 Full-Time 41% Organic More than 50 W
Slide 7: Historical Financial Performance
Historical Financial Performance (1) Adjusted EBITDA (1) Adjusted Free Cash Flow New Depositing Customers (USD millions) (USD millions) $41.6 479,000 $58.0 454,000 $36.3 425,000 $48.7 $36.7 $23.0 273,000 $24.1 $16.4 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 (1) Represents a non-IFR
Slide 8: Diversified Customer Base
Diversified Customer Base The Group supplies player acquisition and data services to more than 500 of the online gambling industry’s top companies across North America, Europe and Oceania. Top 10 Customers = 25% of Sales(1) 1 2 4% 3 4 3% 2% 5 2% 2% 6 2% 2% 7 2% 2% 8 2% 9 2% 10 (2) 75% (1) Reflects t
Slide 9: Industry-Defining Brands
Industry-Defining Brands The original fantasy sports authority featuring The Group’s flagship, industry-defining site is a market-moving player alerts, in-depth statistics preeminent destination across 12+ countries ® and expert commentary. Since joining the and seven languages for consumer informat
Slide 10: Portfolio of State, Province and Country-Specific Sites
Portfolio of State, Province and Country-Specific Sites ® ® All websites listed here are wholly owned by Gambling.com Group 10
Slide 11: Founder-Led Executive Team
Founder-Led Executive Team Charles Gillespie Kevin McCrystle Elias Mark Ellen Monaghan Max Bichsel Chief Executive Officer (CEO) Chief Operating Officer Chief Financial Officer (CFO) SVP of People EVP, North America since inception (COO) since 2007 since 2016 since 2015 since 2019 • Founded the Grou
Slide 12: Winner of the gambling affiliate industry's most prestigious awards
Overall Affiliate of the Year eGR Global Awards 2025 Sports Affiliate of the Year eGR Global Awards 2025 Sports Affiliate of the Year SBC North America Awards 2025 Casino Affiliate of the Year eGR Global Awards 2024 Casino Affiliate of the Year iGB Affiliate Awards 2024 Winner of the Casino Affiliat
Slide 13: Best-in-Class Content
Best-in-Class Content The Group’s more than 600 dedicated and award- winning colleagues have years of experience in sports media and online gambling. Our news team has experience at various media companies including: USA TODAY, ESPN, The Athletic, CBS Sportsline, Golfweek, Yahoo! Sports, NJ.com, Chi
Slide 14: Diversified Revenue Model with Growing Recurring Revenue
Diversified Revenue Model with Growing Recurring Revenue Cost Per Acquisition (CPA) Cost per acquisition refers to fixed rate fees earned for each player who registers and usually deposits a minimum balance on the operator’s site. Revenue Share Revenue share is earned as a set percentage of net gami
Slide 15: Subscription Revenue Adds Visibility and Strong Cash Flow
Subscription Revenue Adds Visibility and Strong Cash Flow Recurring Revenue Revenue by Monetization Type With an enhanced sports data services platform (USD millions) combining OddsJam, OpticOdds and RotoWire data solutions, the Group now has meaningful, high-margin $103.6 and high-growth recurring
Slide 16: Proprietary Marketing Technology Platform
Proprietary Marketing Technology Platform • Our CMS for creating and maintaining unique gambling content including more than 34,000 articles and 12,000 brand reviews • In-house CMS gives us full control to easily customize and launch new sites • Our ad-tech system is designed to give us full control
Slide 17: Growth Strategy – Poised To Continue Expanding Market Share
Growth Strategy – Poised To Continue Expanding Market Share A B C ORGANIC GROWTH NEW OPPORTUNITIES ACQUISITIONS • Achieved 41% organic revenue • Partnerships offer access to • Targeting under-monetized digital CAGR from 2017–2025 GAMB tools, widgets and content media assets with strong user on addit
Slide 18: Strong North American & Global Presence
Strong North American & Global Presence Revenue per market (1) North America (USD millions) $165.5 ▪ The United States is expected to be the future of the global online gambling industry and our #1 priority growth market ▪ Online gambling penetration continues to offer a long runway for growth in th
Slide 19: Experienced Board of Directors
Experienced Board of Directors Charles Gillespie CO-FOUNDER AND CHIEF EXECUTIVE SINCE INCORPORATION IN 2006; CHAIRMAN SINCE 2024 Charles Gillespie founded Gambling.com Group in 2006. He leads the Group as its Chief Executive and has served on the board of directors since the start. He became Chairma
Slide 20: Responsible Corporate Citizen
Responsible Corporate Citizen Regulated Markets Responsible Gaming Equality & Diversity Focus on regulated and Some of the most restrictive 30+ different nationalities soon-to-be regulated markets advertising policies in the industry represented in the workforce Never worked with operators that Clea
Slide 21: Appendix I: Market Overview
Appendix I: Market Overview C O N F I D E N T I A L & P R I V A T E 21
Slide 22: The Rapidly Expanding North American Online Gambling Market
The Rapidly Expanding North American Online Gambling Market 7 States, 1 Canadian Province Online casino and sports betting live* 24 States and District of Columbia Online sports betting live 0 States Online sports betting legal but not yet live 19 States No imminent legalization or availability GAMB
Slide 23: The Rapidly Expanding Online Gambling Industry
The Rapidly Expanding Online Gambling Industry Industry Opportunity Highlights Online Gambling’s Growing Share of Overall Gambling GGR (1)(2) • UK and Europe penetration serves as proxy for the long-term opportunity in the U.S. market • The online gambling industry is still young and benefits from t
Slide 24: The Rapidly Expanding Online Gambling Industry
The Rapidly Expanding Online Gambling Industry The Growth of the U.S. Online Gambling Market Will Outpace the Global Gambling Industry (1) Global Online Gambling GGR, 2022 – 2028 (2) U.S. Online Gambling GGR, 2022 – 2028 (3) (USD billions) (USD billions) 13% 26% $235 $66 $215 $58 $193 $171 $48 $135
Slide 25: Growth Of The U.S. Online Gambling Market & Perf. Mktg / Affiliate TAM
Growth Of The U.S. Online Gambling Market & Perf. Mktg / Affiliate TAM • If 100% of U.S. states were legalize online sports betting and iGaming, the market has the potential toto reach $85 billion (1) ~$85,000 • U.S. online sports betting and iGaming combined market size is estimated to total over $
Slide 26: Growth Of The U.S. Online Gambling Market
Growth Of The U.S. Online Gambling Market • U.S. Online Gambling Market Size at 100% Legalization: The U.S. online gambling market is estimated to have the potential to grow to ~$85 billion if 100% of U.S. states were to legalize(1) Estimated U.S. Online Gambling Market Size at 100% Legalization: •
Slide 27: Appendix II: Financial Results and Tables
Appendix II: Financial Results and Tables 27
Slide 28: FY 2026 Outlook
FY 2026 Outlook (1) Low Midpoint High FY 2025 Revenue (millions) $170 $175 $180 $165.5 Adjusted EBITDA (1) (millions) $50 $54 $58 $58 (1) Adjusted figures represents non-IFRS information. See “Safe Harbor Statement - Non-IFRS Financial Measures” and the tables at the end of this release for an expla
Slide 29: Q4 and 12M Condensed Consolidated Statements of Comprehensive Income
Q4 and 12M Condensed Consolidated Statements of Comprehensive Income (USD thousands except per share) Constant Constant Reporting Currency Currency Reporting Currency Currency Three Months Ended December 31, Change Change Year Ended December 31, Change Change 2025 2024 % % 2025 2024 % % Revenue 46,2
Slide 30: Condensed Consolidated Statements of Financial Position
Condensed Consolidated Statements of Financial Position (USD in thousands) DECEMBER 31, DECEMBER 31, 2025 2024 Non-current assets Property and equipment 2,216 1,833 Right-of-use assets 4,207 4,632 Intangible assets 245,681 130,811 Other non-current asset 360 — Deferred tax asset 4,906 6,418 Total no
Slide 31: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD in thousands) Three Months Ended Decem ber 31, Year Ended Decem ber 31, 2025 2024 2025 2024 Cash flow fr om operating activities (Loss) income before tax (27,639) 9,006 (32,408) 34,150 Income tax paid (180) (331) (10,287) (1,901) Payme
Slide 32: Q4 and 12M 2025 Revenue by Market
Q4 and 12M 2025 Revenue by Market (USD in thousands) Three Months Ended As a percentage of As a percentage of Year ended December 31, December 31, revenue revenue 2025 2024 Change 2025 2024 2025 2024 Change 2025 2024 Marketing 34,413 33,117 4% 74% 94% 124,320 118,815 5% 75% 93% Data 11,823 2,191 440
Slide 33: Q4 and 12M 2025 Revenue by Market
Q4 and 12M 2025 Revenue by Market (USD in thousands) Three Months Ended As a percentage of As a percentage of Year ended December 31, December 31, revenue revenue 2025 2024 Change 2025 2024 2025 2024 Change 2025 2024 Casino 25,058 25,505 (2)% 54% 73% 96,545 92,224 5% 59% 73% Sports 19,442 9,322 109%
Slide 34: Q4 and 12M 2025 Sales and Marketing Expense
Q4 and 12M 2025 Sales and Marketing Expense (USD in thousands) Three Months Ended As a percentage of As a percentage of Year ended December 31, December 31, revenue revenue 2025 2024 Change 2025 2024 2025 2024 Change 2025 2024 People costs 7,716 6,474 19% 17% 18% 32,729 25,838 27% 20% 20% Employees'
Slide 35: Q4 and 12M 2025 Technology Expense
Q4 and 12M 2025 Technology Expense (USD in thousands) Three Months Ended As a percentage of As a percentage of Year ended December 31, December 31, revenue revenue 2025 2024 Change 2025 2024 2025 2024 Change 2025 2024 People costs 3,233 2,520 28% 7% 7% 12,831 9,543 34% 8% 8% Employees' bonuses relat
Slide 36: Q4 and 12M 2025 General and Administrative Expense
Q4 and 12M 2025 General and Administrative Expense (USD in thousands) Three Months Ended As a percentage of As a percentage of Year ended December 31, December 31, revenue revenue 2025 2024 Change 2025 2024 2025 2024 Change 2025 2024 People costs 3,454 3,972 (13)% 7% 12% 13,528 13,108 3% 8% 10% Shar
Slide 37: Q4 and 12M 2025 Non-IFRS Summary
Q4 and 12M 2025 Non-IFRS Summary (USD in thousands) Constant Constant Reporting Currency Currency Reporting Currency Currency Three Months Ended December 31, Change Change Year Ended December 31, Change Change 2025 2024 % % 2025 2024 % % Net (loss) income for the period attributable to shareholders
Slide 38: Q4 and 12M 2025 Net Income Margin
Q4 and 12M 2025 Net Income Margin (USD in thousands) Three Months Ended December 31, Change Year Ended December 31, Change 2025 2024 % 2025 2024 % Revenue 46,236 35,308 31% 165,447 127,182 30% Net (loss) income for the period attributable to shareholders (26,889) 7,933 (439)% (32,930) 30,679 (207)%
Slide 39: Q4 and 12M 2025 Adjusted Net Income Reconciliation
Q4 and 12M 2025 Adjusted Net Income Reconciliation (USD in thousands) Constant Constant Reporting Currency Currency Reporting Currency Currency Three Months Ended December 31, Change Change Year Ended December 31, Change Change 2025 2024 % % 2025 2024 % % Net (loss) income for the period attributabl
Slide 40: Q4 and 12M 2025 Adjusted Net Income Per Share Reconciliation
Q4 and 12M 2025 Adjusted Net Income Per Share Reconciliation (USD) Constant Constant Reporting Currency Currency Reporting Currency Currency Three Months Ended December 31, Change Change Year Ended December 31, Change Change 2025 2024 % % 2025 2024 % % Net (loss) income per share attributable to sha
Slide 41: Q4 and 12M 2025 EBITDA and Adjusted EBITDA Reconciliation
Q4 and 12M 2025 EBITDA and Adjusted EBITDA Reconciliation (USD in thousands) Constant Constant Reporting Currency Currency Reporting Currency Currency Three Months Ended December 31, Change Change Year Ended December 31, Change Change 2025 2024 % % 2025 2024 % % Net (loss) income for the period attr
Slide 42: Q4 and 12M 2025 Adjusted EBITDA Margin Reconciliation
Q4 and 12M 2025 Adjusted EBITDA Margin Reconciliation (USD in thousands) Three Months Ended December Twelve Months Ended 31, Change December 31, Change 2025 2024 % 2025 2024 % Revenue 46,236 35,308 31% 165,447 127,182 30% Adjusted EBITDA 15,458 14,736 5% 58,010 48,691 19% Adjusted EBITDA Margin 33%
Slide 43: Q4 and 12M 2025 Free Cash Flow Reconciliation
Q4 and 12M 2025 Free Cash Flow Reconciliation (USD in thousands) Three Months Ended December Twelve Months Ended 31, Change December 31, Change 2025 2024 % 2025 2024 % Cash flows generated by operating activities (9,947) 13,698 (173)% 19,104 37,638 (49)% Adjustment for items presented in operating a
Slide 44: For More Information, Visit: gambling.com/corporate
For More Information, Visit: gambling.com/corporate 44