Kambi Group (KAMBI) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 4.9% year-over-year to €43.5m, with adjusted EBITA (acq) up 64% to €5.7m and operating profit at €4.2m, reflecting improved operating leverage and efficiency programs.

• Major new contracts and partnerships were signed in Canada and France, expanding regulated market presence to eight Canadian provinces and marking entry into the French regulated market.

• Continued expansion of Odds Feed+ and AI-driven trading, with over 60% of bets now automated, supporting product quality and operational efficiency.

• Several new partner launches occurred across Europe, North America, Latin America, and Africa, demonstrating scalability and demand for the sportsbook platform.

Financial highlights

• Q1 2026 revenue reached €43.5m, up from €41.5m year-on-year.

• Adjusted EBITA (acq) rose to €5.7m, a 64% increase from €3.5m last year, with margin at 13.0%.

• Operating profit for the quarter was €4.2m, up 422%, with a margin of 9.7%.

• Closing cash balance at end of March was €31.5m.

• Earnings per share reached €0.086, up 218%.

Outlook and guidance

• Full-year 2026 adjusted EBITDA/EBITA (acq) guidance remains at €20–25m, with Colombian tax increases expected to reduce revenue by €4m.

• Revenue tailwinds expected from organic operator growth, new partner launches, and the FIFA World Cup.

• Headwinds include operator migrations, increased regulatory and tax burdens, and market exits.

• Expenses expected to remain broadly flat despite inflation.

• Confident in system stability and capacity ahead of major sporting events.