Gambling.com Group Q1 2026 revenue reaches $40.4M
Gambling.com Group has shared its Q1 2026 results, revealing that revenue remained flat at $40.4 million, with the company set to cut 25% of its workforce as part of a planned strategic restructure.
Adjusted EBITDA for the quarter dropped by 43% to $9 million, which led to the company launching an AI-powered restructuring initiative that is expected to deliver $13 million in annualized cost savings. Additionally, adjusted net income dropped to $3.8 million, compared to 2025’s $16.5 million.
Cash flow also declined, with the number going down from $8.1 million in 2025 to just $0.9 million in Q1 2026. For the quarter, Gambling.com reported $8.4 million in total cash and $121.3 million in borrowings.
Looking at specific sectors, revenue from sports data services increased by 13% to $11.2 million, but revenue from marketing services declined by 5% to $29.2 million. During the three months, 140,000 new depositing customers were recorded, mostly flat compared to 2025’s 138,000 for the same period.
CEO and co-founder Kevin McCrystle commented:
“We continue to integrate AI into our workflows and are moving quickly to adopt AI as the foundational layer of how the entire organization operates. We are confident this transformation positions us to adapt faster to changing market needs by delivering more product and marketing innovation at a faster velocity with smaller, more flexible teams. These initiatives, and the continued transition in our business to benefit from a higher mix of high-margin sports data services contributions and our more diversified marketing business, will help ensure we can build on our foundation to return to delivering consistent high-margin growth going forward.”
The company is looking to generate between $165 and $170 million in full-year revenue, with an adjusted EBITDA from $45 million to $50 million.
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