Kambi Expands Global Reach and Strengthens AI Trading in Q4 2024

Financial Performance and Growth

Kambi’s Q4 2024 revenue reached €44.5 million, bringing full-year revenue to €176.4 million—an increase from €173.3 million in 2023. The company’s operating profit for the year stood at €20.1 million, maintaining stability despite slight margin declines. While Q4 EBITA (acq) dropped to €7.1 million from €8.5 million, full-year EBITA (acq) remained steady at €25.3 million.

A major highlight was the significant rise in cash flow, with full-year figures reaching €25.9 million, marking a 73% increase from 2023. This financial resilience was driven by strong operator engagement, AI-driven trading improvements, and new market launches.

CEO Werner Becher highlighted the company’s strong finish to the year:

“The final quarter of 2024 was marked by significant achievements for Kambi. We concluded the year with new partner agreements across the majority of our product portfolio, initiated actions to address our cost base and delivered robust Q4 2024 financial results.”

Expansion into Key Markets

Kambi strengthened its presence in both established and emerging markets:

• United States: The company secured a long-term partnership with Hard Rock Digital, providing its Odds Feed+ solution across multiple states. Additionally, Kambi obtained B2B sports betting licensing in Nevada, affirming its regulatory compliance in one of the most stringent markets.
• Brazil: Kambi launched operations on the first day of the newly regulated market, partnering with Stake, BetMGM, BetWarrior, KTO, and Rei do Pitaco.
• Canada: A contract novation agreement was signed to take over FDJ Group’s sportsbook partnership with Ontario Lottery and Gaming Corporation (OLG), strengthening Kambi’s presence in the Canadian market.

These moves position Kambi for sustained growth, with new partnerships expected to contribute significantly in 2025.

AI-Driven Trading Enhancements

A key driver of Kambi’s performance has been the Tzeract AI trading division, which has enhanced automated pricing, trading, and risk management. The company has raised its long-term operator trading margin expectation to 9.5–11.0%, citing increased engagement with Bet Builder-style wagers and player-based markets. AI-powered trading is now responsible for approximately 30% of operator gross gaming revenue, a figure expected to grow.

“Looking further ahead, the strategic initiatives we have undertaken – advancing AI innovation, expanding our product portfolio and initiating a cost efficiency programme – along with our various partner signings, provide a solid platform for the future. The foundations we are building today will enable us to emerge stronger, more agile and well-positioned for long-term growth.”

Strategic Cost Management

Kambi has undertaken efficiency initiatives, including staff restructuring and infrastructure cost reductions. The company projects 2025 EBITA (acq) of €20–25 million, with operating expenses set to decrease. While headwinds such as rising gaming taxes and partner migrations may impact short-term results, cost controls and revenue diversification strategies aim to mitigate risks.