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GAMB

Gambling.com Group Limited

GAMB

Gambling.com Group Limited • NASDAQ
$5.67 ▲ 5.19% (+0.28)
Market Cap $199.72 M
52w High $17.14
52w Low $4.60
Dividend Yield 0%
P/E 113.4
Volume 513.18K
Outstanding Shares 35.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $38.982M ▼ $37.016M ▼ $-3.86M ▲ -9.902% ▲ $-0.11 ▲ $3.588M ▲
Q2-2025 $39.594M ▼ $51.25M ▲ $-13.415M ▼ -33.881% ▼ $-0.38 ▼ $-7.121M ▼
Q1-2025 $40.635M ▲ $28.36M ▲ $11.236M ▲ 27.651% ▲ $0.32 ▲ $17.487M ▲
Q4-2024 $35.308M ▲ $23.263M ▲ $7.933M ▼ 22.468% ▼ $0.23 ▼ $11.556M ▼
Q3-2024 $32.118M $20.832M $8.509M 26.493% $0.24 $11.749M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.355M ▼ $305.115M ▼ $171.431M ▲ $133.684M ▼
Q2-2025 $18.667M ▼ $308.96M ▲ $169.278M ▲ $139.682M ▼
Q1-2025 $21.498M ▲ $305.906M ▲ $158.468M ▲ $147.438M ▲
Q4-2024 $13.729M ▼ $178.583M ▼ $55.395M ▼ $123.188M ▼
Q3-2024 $15.723M $188.535M $63.201M $125.334M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.86M ▲ $10.911M ▲ $-8.011M ▲ $-14.162M ▼ $-11.312M ▼ $10.712M ▲
Q2-2025 $-12.257M ▼ $6.725M ▼ $-8.319M ▲ $-1.17M ▼ $-2.831M ▼ $5.535M ▼
Q1-2025 $10.949M ▲ $11.415M ▼ $-68.357M ▼ $64.034M ▲ $7.769M ▲ $10.277M ▼
Q4-2024 $7.933M ▼ $12.621M ▼ $-9.223M ▼ $-5.483M ▼ $-1.994M ▼ $12.514M ▼
Q3-2024 $9.11M $14.937M $-1.151M $-5.431M $8.2M $13.772M

Revenue by Products

Product Q1-2022Q2-2022Q4-2022
Casino Revenue
Casino Revenue
 $10.00M ▲$10.00M ▲$30.00M ▲
Other Product Type Revenue
Other Product Type Revenue
 $0 ▲$0 ▲$0 ▲
Sports
Sports
 $10.00M ▲$0 ▼$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed steadily over the past several years, showing that the business is scaling rather than standing still. Profitability looks solid for a young, digital-first company: gross margins are very high, and operating profits have grown meaningfully as revenue has expanded. Net income has been positive in most years, with only a brief soft patch, which is unusual in such a fast-changing online segment. Earnings per share, however, have been more volatile than the underlying business results, likely reflecting changes in share count and deal activity rather than pure operating swings. Overall, the income statement points to a profitable, growing niche player rather than a speculative, loss-making platform.

Balance Sheet

Balance Sheet The balance sheet has grown along with the business, with total assets increasing as the company invests in technology, brands, and acquisitions. Shareholders’ equity has risen over time, signaling that retained profits and capital raises have strengthened the financial foundation, though equity growth has recently started to level off. Cash balances peaked a few years ago and have since declined, suggesting that the company has been deploying cash into growth initiatives rather than stockpiling it. Debt remains present but modest, indicating some use of leverage but not an aggressive balance sheet. Overall, the company looks reasonably well-capitalized for its size, but with less cash cushion today than earlier in its public life.

Cash Flow

Cash Flow Cash flow from operations has generally moved in line with profits and is now meaningfully higher than a few years ago, which is a positive sign that reported earnings are backed by real cash generation. Free cash flow was comfortably positive in earlier years but has recently tightened as the company stepped up its investment spending. Capital expenditures and related growth investments have increased, effectively absorbing much of the operating cash inflow and contributing to the drawdown in cash on hand. This pattern is typical of a business in a growth and build-out phase: cash is being reinvested into platforms, content, and technology rather than flowing back to the balance sheet. The key watchpoint is whether these investments translate into sustained, larger operating cash flows over time.

Competitive Edge

Competitive Edge Gambling.com Group occupies an attractive niche as a performance marketing and data partner to gambling operators rather than an operator itself. Its competitive edge comes from several interlocking strengths: valuable domain names that naturally attract user attention, deep search engine optimization expertise that drives cost-effective traffic, and a broad network of specialized websites tailored to different markets and player types. The company has also built credibility by focusing on licensed, regulated partners and forming media alliances with major news groups, which extend its reach beyond its own sites. On the flip side, it operates in a highly competitive, regulation-sensitive space and remains exposed to changes in search algorithms, marketing rules, and gambling regulation. Its moat is meaningful but not unassailable; constant execution and adaptation are required to maintain its position.

Innovation and R&D

Innovation and R&D Innovation is a central part of the story. The company runs on proprietary technology platforms for analytics and content management, giving it control over data, speed, and optimization. It has moved beyond pure affiliate marketing into sports data and tools through acquisitions like RotoWire, OddsJam, and OpticOdds, adding subscription and enterprise-style revenue streams to its traditional performance fees. These platforms process large volumes of real-time odds data and support advanced tools for bettors and business clients, which can deepen engagement and raise switching costs. Management is also working to diversify traffic sources away from pure search, using media partnerships, paid campaigns, and social channels to reduce reliance on any single platform. Expansion into new geographies and emerging categories, such as prediction markets, shows a willingness to experiment, but also introduces integration and execution risk. The main question is how effectively the company can knit these assets together into a seamless, scalable technology and data offering.

Summary

Gambling.com Group presents as a profitable, growing digital marketing and data business in the online gambling ecosystem, rather than a traditional casino operator. Its income statement shows steady revenue growth with strong margins and mostly consistent profitability, which is relatively rare for a younger company in a volatile sector. The balance sheet is sound for its size, with rising assets and equity but a smaller cash buffer than in the past and modest use of debt. Cash flows from operations are healthy and trending upward, while free cash flow has tightened as management leans into higher investment, especially in technology and acquisitions. Competitively, the company benefits from strong brands, search expertise, proprietary tech, media partnerships, and regulatory know-how, but remains exposed to regulatory shifts, competitive pressure, and dependence on digital traffic channels. Its innovation agenda—especially in sports data, subscription services, and new markets—could broaden and stabilize the business model, provided integration and execution keep pace. Overall, this is a growth-focused, asset-light, marketing and data platform with real profitability, balanced by the usual risks of regulation, digital platform dependence, and acquisition integration in a fast-moving industry.

NEWS

November 18, 2025 · 12:00 PM UTC

DraftKings CEO and Co-Founder Jason Robins Named the 2025 American Gambling Awards C-Suite Executive of the Year

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November 17, 2025 · 12:00 PM UTC

Georgia State Rep. Marcus Wiedower is the 2025 American Gambling Awards Policymaker of the Year

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November 13, 2025 · 7:00 AM UTC

Gambling.com Group Reports Record Third Quarter Revenue and Adjusted EBITDA

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November 5, 2025 · 12:00 PM UTC

Louisiana Gaming Control Board's Christopher Hebert is the 2025 American Gambling Awards Regulator of the Year

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October 30, 2025 · 12:00 PM UTC

OpenBet is the 2025 American Gambling Awards Platform Provider of the Year

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