GAMBLING . COM GROUP Q1 REVIEW
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Affiliate Monitor Company-by-company Q1 results analysis
GAMBLING . COM GROUP Q1 REVIEW
IT IS CLEAR from the first quarter that Gambling . com Group is on a roll . Revenue rose 36 % to $ 26.7m while adjusted EBITDA was up 49 % to $ 10.7m . Moreover , with the outlook looking good for the rest of the year , the company raised its full-year revenue forecast for 2023 to $ 95m- $ 99m and its operating profit estimate to between $ 33m and $ 37m .
It was helped , of course , by its North American revenues which rose 33 % to $ 14.1m ( boosted by the Ohio and Massachusetts launches ) while the UK and Ireland saw a 36 % leap . Chief executive Charles Gillespie noted this was the fifth successive quarter of record revenues in the UK and Ireland despite having operated in these markets for more than a decade .
“ With these results , we have again demonstrated that we are leading the way in terms of organic growth among our publicly traded
Chart 9 : Gambling . com Group revenue Q321-Q123 ($ m )
30 |
26.7 |
25 |
21.3 |
20 |
19.6 |
19.6 |
15.9 |
|
15
10
5
0
|
10.1 |
10.3 |
Q321 |
Q421 |
Q122 |
Q222 |
Q322 |
Q422 |
Q123 |
Chart 10 : Gambling . com EBITDA Q321-Q123 ($ m )
12 |
11 |
10.7 |
10 9 8 7 |
7.2 |
6.9 |
6.4 |
6 |
5 |
4 |
3.5 |
3.6 |
3 |
2 |
2.3 |
1 |
0 |
Q321 |
Q421 |
Q122 |
Q222 |
Q322 |
Q422 |
Q123 |
Source : company reports iGB Affiliate Monitor