During Q3 trading, Kambi gained momentum after the sports betting services provider reported quarterly results over the period.
Kambi illustrated the ‘stark’ gap between Q2 and Q3, praising his ability to respond ‘quickly and efficiently’ to the challenges of global lockdown and live sport return.
CEO Kristian Nylén commented on the results: “The difference between Q2 and Q3 couldn’t have been starker and underlines the ability of the business to quickly and efficiently respond not only to the lockdown situation, but also ensuring resources were in place for when sports returned.
“It’s reassuring for our partners to experience the capability and inherent flexibility Kambi has to adapt and thrive under testing conditions and we are confident in our ability to handle any potential future impacts that may arise from the virus. It’s also been reassuring to see that, despite some heightened local restrictions, there’s been no impact on high-level sports.”
Revenues amounted to € 28.1 million , up 22 percent from last year’s €23 million posted in the same period. Meanwhile, January-September sales were €70.8 million , up from €65.6 million in 2019.
Operating profit for the period also grew significantly from €3.4 m in Q3 2019 to €6.5 m in 2020.
Addressing the improved trade figures he added: “Momentum gained late in Q2 carried through to Q3, with Kambi posting record quarterly revenue of €28.1m ($33.3m). Operator turnover was also up significantly to an all-time high, rising 62 percent year-on-year.
“The gradual return of sports drove greater volumes throughout the period, particularly during September, which produced 43% of the operator turnover for the quarter. This positive trend has continued into the start of Q4.
“As we near the end of 2020, the cautious optimism of earlier in the year has been replaced with growing confidence, as we finish the year in great shape. Looking ahead, having successfully come through our toughest challenge, more exciting opportunities await us.”
This morning, Kambi posted its Q3 2020 results which detail; 22% revenue growth, 62% operator turnover growth, operating margin of 23.3%, and momentum growing with a strong start to Q4. You can find the full results here: https://t.co/6HHGavcHW5
— Kambi (@KambiSports) November 6, 2020