Kambi has reported a marginal rise in its quarterly revenue, registering €44.5 million up slightly from the €44.3 million in the corresponding period last year.
For the quarter, the adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at €16 million, which was a 6 percent decrease compared to last year. Additionally, operating profit fell 17 percent to €5.9 million for the period. Overall, profit after tax was down 8 percent from the same period last year, coming down to €5.1 million.
This overall dip in profitability is a result of various factors, particularly a rise in costs and expenses during the quarter. Staff costs surged by over €1.3 million, while data supplier costs increased by more than €1.1 million. Additionally, other operating expenses climbed by €187,000. Moreover, the amortisation of capitalised development costs rose by €849,000, further affecting the company’s bottom line.
Full-year figures
Looking at the full-year results, Kambi reported €176.4 million in revenue, a 2 percent increase from the previous year. Operating expenses rose by €100,000 year-on-year to reach €116.7 million. This resulted in an EBITDA of €59.7 million. This marks a 5 percent growth from FY23. Kambi’s operating profit stood at €20.1 million, up slightly by 0.5 percent compared to the prior year. However, the company faced a 5.1 percent drop in profit before tax due to factors such as $1.3 million in restructuring costs.
CEO Werner Becher said, “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.
“However, this year won’t be without significant challenges, with 2025 presenting a particular set of headwinds, which we expect to ease going forward. These include certain partners, particularly Kindred and LeoVegas, migrating away from our turnkey sportsbook, as well as rising taxes such as the recently proposed temporary VAT in Colombia.”
2025 guidance
The company reiterated that they are taking actions to manage costs and continuing to diversify their revenue streams through product expansion. The company also provided financial guidance for the upcoming financial year, with EBITA (acq) projected to be in the range of €20-25 million for 2025.
Becher added, “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 sports betting technology and services provider has recently been undergoing some internal changes as well as signing significant partnerships. Last month, Xtremepush, the leading provider of CRM and loyalty marketing powered by AI, secured a landmark agreement with Kambi to enhance the player retention capabilities through impactful personalised experiences. Another partnership was with the Australian online 바카라 operator Stake to launch its online turnkey sportsbook in Brazil and beyond.
