Betting tech firm Kambi Q3 revenue rises on business model growth, cost control

Overview

• Sweden sports betting tech firm's Q3 revenue rose 23% yr/yr to €46 mln

• Adjusted EBITA for Q3 rose 161% yr/yr, margin improved to 17.3%

• Company updated full-year adjusted EBITA guidance to around €26 mln

Outlook

• Company updates 2026 full-year adjusted EBITA (acq) guidance to around €26 mln

• Company says Brazil online gambling ban could limit long-term growth potential in that market

• Company cites expanding partner network and product innovation as supporting future growth

Result Drivers

• BUSINESS MODEL & COST DISCIPLINE - Co attributed profit growth to diversified business model, ongoing cost discipline and favourable FX movements

• NEW PARTNERSHIPS - Co said new and expanded partnerships, including Station Casinos, Pure Casino Entertainment, QuinnBet and RETABET, drove network growth

• WORLD CUP ENGAGEMENT - Co said Fifa World Cup final drove high network engagement and contributed to strong start to Q3

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the casinos & gaming peer group is "buy"

• Wall Street's median 12-month price target for Kambi Group PLC is SEK210.00, about 43.2% above its November 3 closing price of SEK146.60

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads

• Nov 3 - Swedish game developer Hacksaw Q3 revenue rises 12%

• Nov 3 - Lottomatica's core profit rises 3%, aided by online and sports betting growth

• Nov 3 - SGHC Q3 revenue rises 10% but misses estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)