Kambi Group plc Class B ( (KMBIF) ) has released its Q3 earnings. Here is a breakdown of the information Kambi Group plc Class B presented to its investors.
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Kambi Group plc is a leading provider of sports betting services, offering a comprehensive range of market-leading products to licensed B2C gaming operators worldwide, with a strong presence in the Americas and Europe. In its latest earnings report, Kambi Group reported a slight increase in revenue to €43 million for Q3 2024, with a total of €132 million for the first nine months of the year. Despite a challenging quarter with decreased operating profit and earnings per share, the company made notable strides in its strategic initiatives.
Kambi’s key financial metrics showed mixed results, with operating profit declining by 23% year-on-year to €3.6 million for the quarter, while earnings per share dropped to €0.083. However, the underlying business saw growth, with operator turnover increasing by 14% year-on-year. The company also announced a share repurchase program of up to €12 million, running from November 2024 to May 2025, and made significant progress in its modularisation strategy.
Strategically, Kambi secured several important partnerships, including a landmark agreement with Hard Rock Digital in the US and a new sportsbook partnership with Brazil’s KTO Group ahead of Brazil’s market regulation in early 2025. Additionally, Kambi extended its partnership with Rush Street Interactive, strengthening its foothold in the Americas. The company also completed multiple partner launches across various regions, enhancing its market presence.
Looking forward, Kambi’s management remains optimistic about the company’s growth prospects, emphasizing the potential of its new products and the upcoming launch of Brazil’s regulated market. The company aims to navigate near-term challenges by continuing to diversify its product offerings and partner base, thereby creating a more stable foundation for long-term growth.
