Gambling.com Group reported record Q4 and Casumofull-year 2024 financial results today (20 March), with continued iGaming growth driving revenue growth amid strategic acquisitions.
The company posted Q4 revenue of $35.3m, up 9% from the same period in 2023.
Net income also increased 24% to $7.9m, with earnings of $0.23 per share. Adjusted EBITDA rose 39% to $14.7m, with margins improving from 32% to 42% year-over-year.
Gambling.com CEO and co-founder Charles Gillespie said: “Our record fourth quarter and full-year results were driven by our team’s prioritisation of iGaming across the markets where we operate.
“Our team delivered outstanding performance in the quarter, especially when compared to the launch driven results in the prior-year period.”
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Despite delivering overall growth, the company delivered around 145,000 new depositing customers to clients during Q4, a 9% year-on-year decrease, which it attributed to difficult comparisons following ESPN Bet’s launch in 17 markets during Q4 2023.
For the full year 2024, the company reported 17% revenue growth, 33% adjusted EBITDA growth, and 81% free cash flow growth compared to 2023.
The company completed two acquisitions in the past year, including the 1 January purchase of Odds Holdings for $80m.
Gillespie added: “The consolidation of Odds Holdings, Inc. from 1 January marks the start of the company’s next phase of growth as we layer on sports data solutions to our existing, high-growth, high-margin business.”
For 2025, Gambling.com Group forecasts revenue between $170m-$174m and adjusted EBITDA between $67m-$69m, representing year-over-year growth of 35% and 40% respectively at the midpoints.
Gillespie said: “We capped an active and productive year during which we set the stage for continued strong growth in 2025 and beyond. We are making great progress towards our goal of reaching $100m in annual adjusted EBITDA.”
The company also repurchased 486,312 shares at an average price of $9.80 during the quarter.