Kambi Group (KAMBI) investor relations material

Executive summary

• Q2 2026 revenue rose 13–13.5% year-over-year to €45.9 million, with adjusted EBITA (acq) doubling to €7.6 million and margin improving to 16.5%.

• The FIFA World Cup drove exceptional results, with over 100 million bets, €1 billion+ turnover, and an 18% operator trading margin.

• Full-year adjusted EBITA (acq) guidance was raised to €23–27 million, reflecting strong tournament performance and operational improvements.

• Expanded commercial footprint with new and extended partnerships in Canada, Spain, Peru, North Dakota, and Latin America.

• First FIFA World Cup fully traded by AI, with 22% of live bets via Bet Builder and over 75% of Q2 bets traded by proprietary AI systems.

Financial highlights

• Q2 2026 revenue reached €45.9 million, up from €40.5 million year-over-year.

• Adjusted EBITA (acq) rose to €7.6 million, up 102% year-over-year.

• Operating profit in Q2 was €5.8 million, including €1.3 million from a subsidiary sale.

• Profit after tax in Q2 was €3.4 million, up from €0.2 million.

• Cash and cash equivalents at period end were €33.0 million.

Outlook and guidance

• Full-year adjusted EBITA (acq) guidance raised to €23–27 million.

• Q3 expected to be quieter due to seasonality, with Q4 anticipated as the strongest quarter.

• Operator trading margin for the remainder of 2026 estimated at around 11%.

• Expenses expected to remain broadly flat for 2026 despite inflationary pressures.

• Margin expected to normalize after the World Cup, with short-term turnover impact.