{"id":7581,"date":"2024-11-20T10:10:31","date_gmt":"2024-11-20T10:10:31","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=7581"},"modified":"2024-11-20T10:10:36","modified_gmt":"2024-11-20T10:10:36","slug":"gambling-com-success-expectations-exceeded-and-2024-forecast-adjusted","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/11\/20\/gambling-com-success-expectations-exceeded-and-2024-forecast-adjusted\/","title":{"rendered":"Gambling.com Success: Expectations Exceeded and 2024 Forecast Adjusted"},"content":{"rendered":"\n

Gambling.com<\/strong> has once again raised its full-year 2024 guidance<\/a>, reinforcing confidence in meeting its commercial and operational targets.<\/p>\n\n\n\n

The upgrade follows record-breaking Q3 results, with the Nasdaq<\/strong>-listed iGaming media group posting $32m in revenue, a 37% increase from the $23.5m in Q3 2023.<\/p>\n\n\n\n

During the quarter, Gambling.com\u2019s media network delivered over 116,000 new depositing customers (NDCs) to clients, a 35% year-on-year increase, making it one of the most efficient providers in iGaming media.<\/p>\n\n\n\n

Q3 gross profit rose 43% to $30m, driven by revenue growth and a $0.5m reduction in cost of sales from media partnerships. Adjusted EBITDA more than doubled to $12.6m, with the margin improving to 39% from 26% in the previous year.<\/p>\n\n\n\n

Operating cash flow reached $14.9m, a substantial improvement from the previous year\u2019s negative $0.7m, which included $2.9m in contingent payments related to the BonusFinder<\/strong> acquisition.<\/p>\n\n\n\n

\u201cOur record third-quarter and year-to-date results showcase our ability to grow market share globally,\u201d said Charles Gillespie<\/strong>, CEO and Co-Founder of Gambling.com Group. \u201cTo drive further growth, we\u2019re exploring adjacent opportunities in the online gaming ecosystem as we work toward our goal of $100m in annual Adjusted EBITDA.\u201d<\/p>\n\n\n\n

For the first nine months of 2024, revenue increased by 21% to $91.9m, net income surged by 91% to $22.7m, and Adjusted EBITDA grew by 30% to $34.0m compared to the same period in 2023.<\/p>\n\n\n\n

With the updated guidance, leadership now projects revenue between $125m and $127m, representing midpoint year-over-year growth of 16%, and Adjusted EBITDA in the range of $46.5m to $48.5m, representing midpoint growth of 29%.<\/p>\n\n\n\n

These projections assume no new North American markets will open in 2024 and that full-year cost of sales will be approximately $7.5m.<\/p>\n\n\n\n

Group CFO Elias Mark<\/strong> emphasized high free cash flow and the resilience of North American operations, saying, \u201cOur iGaming NDC growth remains strong across all regions, and our North American business continues to perform well despite challenging comparables.<\/p>\n\n\n\n

With our raised full-year outlook, we\u2019re positioned to sustain operating momentum, especially as we anticipate growth in the North American market next year.\u201d<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel!<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Gambling.com has once again raised its full-year 2024 guidance, reinforcing confidence in meeting its commercial and operational targets. The upgrade follows record-breaking Q3 results, with the Nasdaq-listed iGaming media group posting $32m in revenue, a 37% increase from the $23.5m in Q3 2023. During the quarter, Gambling.com\u2019s media network delivered over 116,000 new depositing customers […]<\/p>\n","protected":false},"author":10,"featured_media":7582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[2118,9467,10509,2994,10508,4412,545,3675],"class_list":["post-7581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-bonusfinder","tag-charles-gillespie","tag-elias-mark","tag-financial-results","tag-forecast-increase","tag-gambling-com","tag-north-america"],"yoast_head":"\nGambling.com Success: Expectations Exceeded and 2024 Forecast Adjusted - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/11\/20\/gambling-com-success-expectations-exceeded-and-2024-forecast-adjusted\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gambling.com Success: Expectations Exceeded and 2024 Forecast Adjusted - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Gambling.com has once again raised its full-year 2024 guidance, reinforcing confidence in meeting its commercial and operational targets. The upgrade follows record-breaking Q3 results, with the Nasdaq-listed iGaming media group posting $32m in revenue, a 37% increase from the $23.5m in Q3 2023. 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