Gambling.com Group (GAMB) Investor presentation summary

Business overview and strategy

• Provides marketing and sports data services for the global online gambling industry, generating revenue through customer acquisition and data subscriptions for both consumers and enterprises.

• Operates over 50 websites in 22 national markets and 10 languages, with a diversified customer base of more than 500 top industry companies.

• Recurring revenue from subscriptions and revenue share accounted for over half of 2025 revenue, enhancing revenue visibility and cash flow.

• Growth strategy focuses on organic expansion, new market opportunities, and strategic acquisitions, particularly in North America.

• Proprietary marketing technology platform supports content creation, ad placement, and business intelligence across a global network.

Financial performance and outlook

• Achieved $165.5M in revenue and $58M in adjusted EBITDA in 2025, with a 35% adjusted EBITDA margin.

• Adjusted free cash flow was $36.3M in 2025, with 454,000 new depositing customers generated for clients.

• Revenue grew at a 41% organic CAGR from 2017 to 2025, with strong historical growth in both marketing and data segments.

• FY 2026 outlook projects revenue between $170M and $180M and adjusted EBITDA between $50M and $58M.

• Subscription revenue made up approximately 25% of 2025 revenue, reflecting a shift toward higher-margin, recurring income streams.

Market opportunity and industry trends

• North America is the top priority growth market, with the U.S. online gambling market expected to outpace global growth.

• U.S. online gambling market could reach $85B at full legalization, with an estimated $6B affiliate market opportunity.

• Online gambling's share of overall gambling GGR is projected to rise significantly in the U.S. by 2030.

• The company is well-positioned to benefit from expanding regulation and increasing online penetration in the U.S., Europe, and Latin America.

• Operators are expected to spend about 35% of revenue on marketing, with 30% of that allocated to affiliate channels.