Kambi Group posts revenue of €43.5m for Q1

Revenue was up 4.9 per cent in year-on-year terms.

Press release.- Kambi Group has released its financial summary for the first quarter of 2026. The report highlighted revenue amounting to €43.5m, up 4.9 per cent in year-on-year terms from €43.5m in the same period in 2025. Adjusted EBITA (acq) increased 63.5 per cent in Q1 2026 to €5.7m (3.5m1) at a margin of 13.0 per cent (8.4 per cent) while operating expenses were €31.9m (32.6m), a decrease of 2.1 per cent.

Total expenses were €39.2m (39.3m2) in the first quarter of the year, a decrease of 0.4 per cent; operating profit was €4.2m (0.8m), at a margin of 9.7 per cent (2.0 per cent); cash flow (excluding working capital, M&A and financing activities) amounted to €7.3m (7.7m); and earnings per share for the first quarter were €0.086 (0.027).

Key operational highlights

• Selected by Atlantic Lottery Corporation and British Columbia Lottery Corporation to power multi-province Canadian sportsbook solution covering seven of Canada’s 10 provinces.
• Agreed a long‑term Turnkey Sportsbook partnership with Pari Mutuel Urbain (PMU) and completed the launch of its new online sportsbook, marking Kambi’s entry into the regulated French market.
• Completed several key partner launches including Ontario Lottery and Gaming Corporation as well as new partners LCKY Group in Sweden and Pickwin in Mexico.
• Continued positive Odds Feed+ momentum through a multi-year agreement with ComeOn Group, expanded content delivery to Hard Rock Bet Sportsbook and launches with Coolbet and LeoVegas.

Werner Becher, CEO of Kambi Group, said: “I am pleased to present our Q1 2026 results, which mark a strong start to the year and underscore the increasingly positive trajectory the business is now on. During the quarter, we delivered improved financial performance alongside continued commercial momentum. Revenue in the quarter increased by 5 per cent year‑on‑year to €43.5m, while adjusted EBITA (acq) increased by 64 per cent over the same period to €5.7m, reflecting increased operating leverage in the business.

“Our strengthening financial and commercial position supports our guidance of a full‑year adjusted EBITA (acq) range of €20 – 25m. This outlook now reflects the impact of the newly introduced sports betting tax in Colombia, which replaced the temporary VAT levy withdrawn in February. Although the new tax is expected to result in an approximate €4m revenue reduction in 2026, we remain confident in our ability to deliver adjusted EBITA (acq) within our stated guidance range.

“Today, we announced a significant partnership with Atlantic Lottery Corporation and British Columbia Lottery Corporation, which will soon see Kambi provide our online and retail Turnkey Sportsbook across seven provinces in Canada. This follows a thorough tender process where our capability, experience and probity made us the standout choice to supply a new nationwide sports betting solution. When coupled with our existing partnership with Ontario Lottery & Gaming Corporation, Kambi will be powering the sportsbooks for lotteries in eight of the 10 provinces in Canada.

“This exciting news comes shortly after announcing a long‑term partnership agreement with PMU, one of France’s most established and recognisable betting brands. PMU has now launched its new betting app, integrating the Kambi sportsbook alongside its racing product for the first time to drive meaningful cross‑sell opportunities. This launch represents Kambi’s entry into the regulated French sports betting market, and I am optimistic about supporting PMU’s ambition to grow market share in one of Europe’s largest betting markets. The PMU agreement, along with our expansion in Canada, illustrates Kambi’s growing relevance among leading national and institutional operators.

“In addition, we secured several other important agreements during Q1, including turnkey sportsbook deals with tribal operator 4 Bears Casino and Lodge in North Dakota and SuomiVeto in Finland, and a multi‑jurisdictional Odds Feed+ agreement with ComeOn Group.

We continued to deepen existing partnerships during the quarter. Notably, we expanded content access for Odds Feed+ partner Hard Rock Bet Sportsbook, providing pricing for major events such as the Winter Olympics and March Madness, as well as a broader range of outright markets across key US sports. This builds on a partnership that already includes access to our full tennis offering and a wide selection of tier‑one domestic football leagues.

“Operationally, we are working closely with partners ahead of the upcoming FIFA World Cup, rolling out a series of product enhancements across front-end, rewards, offering expansion and trading. These improvements are designed not only for the tournament itself, but to deliver lasting value well beyond it. At the same time, we continue to expand our AI‑driven trading capabilities. Following early-stage rollouts across tennis and basketball, more than 60 per cent of Q1 bets were priced and traded by AI, a proportion that is set to increase further following the recent expansion into ATP tennis.

“While external challenges remain, we have started the year on the front foot. Kambi continues to offer market‑leading turnkey and odds feed products, we are progressing on efficiency and productivity initiatives, and we are entering the busiest period of the global sports calendar with confidence. Against this backdrop, I believe the broader outlook for the business remains bright and I am encouraged by the opportunities ahead.”