Gambling.com Group Emphasise Strong Growth In Q2
Author: Joe Kizlauskas
Last Updated: 10th March 2023
In its Q2 2021 financial results, Gambling.com Group Limited emphasised “continued strong top-line growth.”
Revenue increased by 66 percent to $10.4 million in the second quarter of 2021, compared to $6.2 million in the same period of 2020, according to the company’s operations and financial figures.
In addition, the company reported a net income of $2.3 million, or $0.08 per diluted share, versus a net loss of $0.4 million, or $0.02 per diluted share, the previous year.
Adjusted EBITDA of $5.5 million increased 46% from $3.8 million in 2020, resulting in a 53 percent Adjusted EBITDA margin. In addition, free cash flow was $3.1 million, down 3 percent from $3.2 million the previous year.
Continued strong top-line growth
Gambling.com Group’s chief executive officer and co-founder, Charles Gillespie said: “Our second quarter results (which were our first interim financial results as a public company) were highlighted by continued strong top-line growth, and, based on our Adjusted EBITDA margins, we are among the most profitable names in the online gambling industry.
“Since our founding in 2006, we have built an affiliate marketing powerhouse with recognisable brands around the globe. Players trust our services to help them find a safe, fun and legal betting experience while our B2C operator clients utilise our best-in-class technology platform to support their increasingly important customer acquisition initiatives.
“We are incredibly excited about the next step in this journey as a public company and look forward to sharing the success with our new investors.”
In May, Gambling.com completed its redomiciliation from Malta to the Channel Island of Jersey, while also announcing the debut of EmpireStakes.com, BetArizona.com, and IllinoisBet.com.
In addition, the company completed the acquisition of two domain portfolios that were “suitable for targeting the US market,” according to the corporation. Gambling.com also completed its successful public listing of common shares on the Nasdaq Global Market under the ticker symbol “GAMB” in the second quarter.