Gambling.com Group, a leading provider of online gambling and sports betting information, has reported record revenue for the second quarter of 2021. The company announced their financial results in an earnings call on Thursday, revealing that they had surpassed expectations and raised their guidance for the year.
During the earnings call, Gambling.com Group reported a 63% increase in revenue to $7.6 million for the second quarter, compared to $4.9 million in the same period last year. This growth was driven by a strong performance in both their gambling and sports betting verticals, as well as a significant increase in new customer acquisitions.
“We are thrilled to report record revenue for the second quarter, which reflects the success of our strategic initiatives to expand our presence in key markets and enhance our user experience,” said Charles Gillespie, CEO of Gambling.com Group. “Our strong performance is a testament to the strength of our brand and the quality of our products, and we are confident in our ability to continue delivering value to our shareholders.”
In addition to the strong revenue growth, Gambling.com Group also reported a 107% increase in adjusted EBITDA to $2.3 million for the quarter, compared to $1.1 million in the same period last year. This increase in profitability was driven by a combination of higher revenue and improved operational efficiencies, as well as a continued focus on cost management.
As a result of their strong performance in the second quarter, Gambling.com Group raised their full-year revenue guidance to $29-$32 million, up from their previous guidance of $26-$29 million. The company also reiterated their commitment to investing in strategic growth initiatives, including expanding into new markets and launching new products and services.
Investors reacted positively to the news, with Gambling.com Group’s stock price rising by 5% following the earnings call. Analysts also expressed optimism about the company’s future prospects, citing their strong revenue growth and improved profitability as key indicators of their potential for long-term success.
Overall, Gambling.com Group’s record Q2 revenue and raised guidance demonstrate the company’s ability to capitalize on the rapidly growing online gambling and sports betting market. With a strong performance in the second quarter and promising growth outlook for the rest of the year, Gambling.com Group is well-positioned to continue delivering value to investors and solidifying their position as a leading player in the industry.