A concerted M&A drive as well as a market-wide prioritisation of iGaming fuelled record results for Gambling.com.
The online gaming affiliate group revealed revenue growth of 17% to $127.1m, from $108.6m in 2023, while adjusted EBITDA was up 33% to $48.7m ($36.7m).
Profit stood at $30.7m, up 68% year-on-year, despite the group closing the year with the major acquisitions of XLMedia and Odds Holding Inc. – the parent company of OddsJam.
Charles Gillespie, CEO and Co-Founder of Gambling.com Group, stated that the latter acquisition, costing an initial consideration of $80m, marks the “next phase of growth” for the company by adding sports data solutions to its existing “high-growth, high-margin business”.
He added: “Our record fourth quarter and full-year results were driven by our team’s prioritisation of iGaming across the markets where we operate.
“Our team delivered outstanding performance in the quarter, especially when compared to the launch driven results in the prior-year period. We anticipate growth and continued market share gains in our performance marketing business across all geographic regions in 2025, including North America.”
Gambling.com closed the last three months of 2024 with revenue growth of 9% to $35.3m (2023: $32.5m), while adjusted EBITDA was up 39% to $17.7m ($15.6m in 2023).
Cash flow for the group rose 11% year-over-year from $17m to $37.6m and it ended Q4 with profit standing at $7.9m, up 24% from the $6m recorded in the same period last year.
On the results, Elias Mark, Chief Financial Officer of Gambling.com Group, said: “Fourth quarter revenue and Adjusted EBITDA increased 9% and 39% year-over-year, respectively, and over 80% of Adjusted EBITDA converted to free cash flow, reflecting the continued success of our strategies to optimise the returns from our global portfolio of owned and operated assets.
“As expected, we generated strong online casino growth across all our geographical regions, while our North American business continued to be resilient against challenging comparatives.”
Looking ahead to the remainder of the trading year, Gambling.com expects full year revenue between $170m-$174m along with adjusted EBITDA of between $67m-$69m, with a margin of approximately 39.5%.
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