Gambling.com Group Limited reported fourth‑quarter 2025 revenue of $46.2 million, a 31% year‑over‑year increase from $35.3 million in Q4 2024. Adjusted earnings per share rose to $0.30, beating the consensus estimate of $0.17–$0.21 by $0.09–$0.13.
Revenue fell short of the higher analyst forecast of $46.85 million to $47.33 million, and the adjusted EBITDA margin contracted to 33% from 42% in the same quarter a year earlier. The decline reflects higher cost of sales driven by investments in non‑SEO marketing channels and the expansion of the sports‑data business.
The sports‑data segment, led by OpticOdds and OddsJam, accounted for 24% of total revenue and grew more than 300% year‑over‑year, offsetting weaker performance in the legacy affiliate marketing segment. Non‑SEO revenue surpassed SEO‑driven sales for the first time, underscoring the company’s shift toward diversified revenue streams.
Full‑year 2025 revenue guidance was raised to $165 million, up 30% from the previous year’s $127.2 million. For 2026, management reiterated a revenue outlook of $170 million to $180 million and an adjusted EBITDA range of $50 million to $58 million, signaling confidence in continued growth of the sports‑data and ticketing businesses.
Investors reacted cautiously, weighing the EPS beat against the revenue miss and margin contraction. The company’s strategic pivot from a pure affiliate marketer to a multi‑platform services provider, highlighted by the acquisition of Spotlight.Vegas, remains a key focus for management.
CEO Charles Gillespie emphasized that the record Q4 revenue and the 5% year‑over‑year rise in adjusted EBITDA demonstrate the effectiveness of the company’s operational leverage, while acknowledging that ongoing investments in marketing and technology will continue to pressure margins in the short term.
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