Kambi Q3 Reports €46 Million Revenue, Profit Jumps 214%

Kambi Group reported a 23% increase in Q3 2026 revenue to €46 million, while operating profit more than tripled to €5.1 million. New sportsbook agreements and stronger betting margins supported the results despite regulatory setbacks in Brazil.

Good to know

• Kambi operating profit increased 214% to €5.1 million, while adjusted EBITA climbed 161% to €7.9 million.
• The sports betting technology provider now processes 85% of network bets through its proprietary AI trading system.
• Kambi maintained a full-year adjusted EBITA outlook of approximately €26 million and secured a 10-year Station Casinos agreement.

AI Sports Betting Technology Handles 85% of Bets

Kambi continues increasing automation across its sportsbook network, with artificial intelligence now handling approximately 85% of all bets.

The company also reported that 59% of AI-traded live bets no longer require an acceptance delay, potentially allowing millions of additional wagers annually.

Kambi is extending its AI betting technology into basketball, American football and table tennis, alongside soccer, baseball, tennis and ice hockey.

Meanwhile, the company combined Abios, Shape Games and Tzeract under the Kambi brand to simplify operations.

Station Casinos Agreement Supports US Expansion

A new 10-year partnership with Station Casinos will bring Kambi sportsbook technology and player account management services to Nevada.

The agreement covers retail and online sports betting, with an initial regulatory field test planned before a broader statewide launch.

Kambi also signed sportsbook agreements with Pure Casino Entertainment and QuinnBet, added RETABET to its Odds Feed+ network and supported operator launches in Alberta, Canada.

Kambi Raises Profitability Despite Brazil Gambling Ban

Brazil accounted for only a low single-digit percentage of Kambi revenue during 2026, limiting the immediate financial impact of the national online gambling ban.

However, the restrictions could eliminate future opportunities in the Brazilian sports betting market.

Kambi nevertheless updated its annual adjusted EBITA forecast to around €26 million, replacing its previous €23 million to €27 million range.

The FIFA World Cup helped produce an 11.9% operator trading margin during Q3, the second-highest quarterly level in company history. Less favorable sports results followed during August and September.

Quarterly adjusted EBITA reached €7.9 million, with the margin improving from 8.2% to 17.3%. Operating expenses remained nearly unchanged at €29.2 million.

For the first nine months of 2026, revenue increased 13.5% to €135.4 million, while operating profit climbed to €15.2 million from €4 million.

CEO Werner Becher credited cost controls, foreign exchange movements and the growing partner network for the improvement.

“Kambi continued its positive trajectory in Q3, driven by a robust financial performance, new partner wins and further strategic progress,” Becher said. “Supported by our powerful network, proven technology and a clear strategic focus, I believe the business is well positioned to deliver sustainable long-term value for both partners and shareholders alike.”

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