Gambling.com kicked off 2025 with a bang, reporting record-breaking financial results for the first quarter. You’ll be impressed by the numbers: the company saw significant growth across all sectors, driven by smart acquisitions and a strong media network. Here’s what you need to know about their standout performance.
Unpacking the Numbers
Gambling.com’s total revenue soared 39% year-over-year to $40.6 million, up from $29.2 million in Q1 2024. This growth pushed adjusted net income up by 78% to $16.5 million, with earnings per share jumping 92% to $0.46. Adjusted EBITDA climbed 56% to a record $15.9 million, with a healthy 39% margin. The company’s media network delivered over 138,000 new depositing customers (NDCs) to clients, a key driver of success. Marketing services revenue grew 13% to $30.7 million, while sports data services, boosted by the acquisitions of OddsJam and OpticOdds, skyrocketed 405% to $9.9 million.
Why is this Important?
If you’re in the iGaming space, Gambling.com’s growth signals a thriving market. Their expanded sports data services, now including recurring subscription revenue that accounts for 24% of Q1 earnings, mean more reliable tools for players and operators.
For investors, the company’s confidence in hitting $172 million in revenue and $68 million in adjusted EBITDA for 2025 shows stability and ambition. The acquisition of OddsJam and OpticOdds has strengthened their North American presence, offering you more robust betting insights and services.
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What’s Driving the Success
The company’s strategic moves are paying off. The acquisition of Freebets.com from XLMedia in April 2024 and OddsJam and OpticOdds in January 2025 have supercharged growth. Charles Gillespie, CEO and Co-Founder, noted that the enhanced sports data platform is set to drive over 20% of 2025 revenue through subscriptions.
This shift brings predictability and high margins, which is great news for stakeholders. Meanwhile, steady cost management kept sales expenses in check, even as operating costs rose 49% to $28.4 million due to higher staffing and amortization from acquisitions.
Looking Ahead
Gambling.com is optimistic about 2025, projecting full-year revenue between $170 million and $174 million, with adjusted EBITDA of $67 million to $69 million. With a beefed-up credit facility of $165 million from Wells Fargo, the company has the financial flexibility to chase more growth opportunities.
Expect their media network, spanning over 50 websites in 19 markets, to keep expanding, giving you access to cutting-edge betting tools and markets.
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