Gambling.com Group has reported its financial results for the second quarter of 2024, showcasing impressive growth across multiple metrics. The group achieved an 18% year-over-year increase in revenue, reaching $30.5 million, marking the highest quarterly revenue in its history. This performance underscores the company’s strong market presence and ability to capitalize on the growing online gambling industry. Gambling.com made significant revenue in the first quarter of 2024 as well.
In addition to record-breaking revenue, Gambling.com Group reported net income of $6.9 million for Q2. Adjusted EBITDA also hit a new high, with a total of $11.2 million for the quarter. This financial success highlights the company’s effective strategy and strong operational execution.
Co-Founder and CEO Charles Gillespie expressed satisfaction with the results, stating, “Our second quarter and year-to-date results highlight the incredible power of our high-intent audience and the clear value we create for our online gambling operator clients.” He also emphasized the company’s ability to adapt quickly to changes in the operating environment, which contributed to the strong topline and adjusted EBITDA growth.
Future Outlook and Confidence in Continued Success
Looking ahead, Gillespie remains optimistic about the company’s trajectory, noting, “As we continue to execute at a high level, expand our footprint in the online gambling ecosystem, and leverage industry growth opportunities, we continue to see a clear path towards our goal of $100 million in annual adjusted EBITDA.” He also pointed to the company’s significant share repurchase activity in the first half of the year as a sign of confidence in its future.
CFO Elias Mark further elaborated on the factors driving the company’s success, citing the swift recalibration of their portfolio and strong performance in key markets. “Year-over-year second-quarter revenue and Adjusted EBITDA growth of 18% and 19%, respectively, reflect very strong delivery of iGaming NDCs across Europe, including the United Kingdom, as well as resiliency in our North American business, against a challenging comparative prior-year period,” Mark said.
With a solid foundation and a clear path forward, Gambling.com Group is well-positioned for continued growth and success in the rapidly evolving online gambling industry.
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