Kambi revenue up 48% for Q3
Kambi shared its financial results for the third quarter of the year and revealed revenue amounted to €41.6m, up 48 per cent year-on-year.
Press release.- Provider of premium sports betting services to licensed B2C gaming operators, Kambi, released its Q3 financial report, showing a 48 per cent revenue increase to €42.8m.
The company also reported revenue of €127.5m for the period January to September, an increase of 80 per cent when compared to the previous year.
Operating profit (EBIT) for the third quarter of 2021 was €14.7m, at a margin of 35.4 per cent and €50.0m, at a margin of 39.2 per cent for the period January to September.
Profit after tax amounted to €11.9m for the third quarter of 2021 and €40.3m for the period January to September while earnings per share for the third quarter of 2021 were €0.384 and €1.302 for the same period.
Cash flow from operating and investing activities (excluding working capital movements and acquisitions) amounted to €11.9m for the third quarter of 2021 and €39.9 m for the first nine months of the year.
Kristian Nylén, Kambi CEO, said: “We had a strong start to the new NFL season, which kicked off on 9 September, with our platform outperforming the competition and our market-leading Bet Builder product engaging a large number of bettors and returning higher average operator trading margin.
“Furthermore, revenue in Q3 was boosted by our continued US expansion, including day one launches in Arizona, the 15th state in which Kambi has launched. In total, Kambi completed approximately one launch per week on average throughout the quarter.”
He then added: “As ever, Kambi is committed to creating the world’s leading sportsbook and we have spent more than a decade focused exclusively on the sports betting vertical, developing a core product that is near impossible to replicate.
“Whether it’s our ability to offer a great betting experience, being ahead of the curve in terms of regulation and compliance or having a wealth of network data at hand to effectively power the engine, Kambi has both the technology and expertise in place to deliver long-term success for our partners.
“In summary, we’ve performed well, and the future looks bright. We currently have a sales pipeline as strong and varied as I’ve known it. As the global trend of regulation continues, we are in a great position to capitalise on future opportunities as and when they arise, and we have announced the implementation of a share buyback scheme.
“Many of us at Kambi have been in this industry for more than two decades, during which time we’ve seen the sports betting market change markedly.
“This change is reflected in the evolution of Kambi, where we have built a business that thrives in regulated market conditions, grown to become a global leader, and partnered with major brands across the globe, many entering the space for the first time.
“This experience means we know what it takes to succeed and I am therefore excited by what the coming years hold for Kambi.”
