Gambling.com reports Q3 2023 performance
Gambling.com experienced a 19% increase in its revenue in the third quarter of the year.
The firm’s latest financial report started off with its headline revenue figure, which went from 19.6 million dollars in last year’s third quarter to 23.5 million dollars this year. This represented a 19% year-over-year increase and set a new record for the firm in the period. In contrast to this, the company’s adjusted EBITDA experienced a small 6% decline year-over-year, going from 6.4 million dollars to 6.05 million dollars.
Despite the slight EBITDA decline, Gambling.com’s net income experienced even more growth in the quarter than its revenue, more than doubling from last year’s 2.3 million dollars to 5 million dollars. The firm also reported its performance in the first nine months of the year, which revealed increases of 38%, 52%, and 75% for the company’s revenue, adjusted EBITDA, and net income figures respectively. The group’s revenues surpassed 76 million dollars in the nine months, in line with its full-year guidance of 100 million to 104 million dollars.
Lastly, Gambling.com reported that its increases were predominantly driven by its operations in the North American market, which experienced a revenue growth of 42% in the third quarter of the year.