Gambling.com Group Reports Record Revenue and EBITDA Growth in Q1 2025
Gambling.com Group delivered record-breaking financial results in the first quarter of 2025, with a 39% increase in revenue and a 56% rise in adjusted EBITDA. The company credited its performance to strong demand for marketing services and the integration of newly acquired sports data platforms.
Marketing and Data Services Drive Strong Start to 2025
Gambling.com Group reported $40.6 million in revenue for the first quarter, up from $29.2 million in Q1 2024. The increase was fueled by steady growth in its core marketing business and a sharp jump in sports data revenue following the acquisition of OddsJam and OpticOdds on January 1.
Revenue from marketing services rose 13% year over year to $30.7 million. The company delivered over 138,000 new depositing customers to its clients, up 29% from the previous year. Sports data services generated $9.9 million, a 405% increase, now representing nearly one-quarter of total revenue.
Record Profitability and Higher Margins
Gross profit climbed 42% to $38.4 million. Operating expenses rose by 49% to $28.4 million due to higher staffing costs and amortization tied to recent acquisitions, including Freebets.com and Odds Holdings.
Net income attributable to shareholders increased by 54% to $11.2 million. Adjusted net income rose to $16.5 million, an increase of 78% year over year. Adjusted EBITDA hit $15.9 million, up from $10.2 million in Q1 2024, yielding a margin of 39%, compared to 35% a year earlier.
Cash Flow and Subscription Revenue Strengthen Financial Position
Operating cash flow reached $11.4 million, up 30%. Free cash flow rose 25% to $10.3 million. Recurring subscription revenue accounted for 24% of total quarterly revenue, helping to boost financial predictability and margins.
According to CEO Charles Gillespie:
“With an enhanced sports data services platform, we now have meaningful recurring subscription revenue, which we expect to account for well over 20% of our 2025 revenue.”
2025 Outlook Remains Strong
The company reaffirmed its full-year guidance. Gambling.com Group expects 2025 revenue between $170 million and $174 million and adjusted EBITDA between $67 million and $69 million. These figures reflect anticipated annual growth of 35% and 40%, respectively, with an EBITDA margin of approximately 39.5%.
The outlook includes $14.5 million in EBITDA contributions from the Odds Holdings acquisition but does not factor in potential revenue from new U.S. state launches, such as Missouri, unless launch dates are officially confirmed. The guidance also assumes an average EUR/USD exchange rate of 1.10.