Gambling.com Group posted record financials for its fourth quarter and fiscal year ending 31 December 2025, boosted mainly by its sports data services segment.
The company’s revenue for Q4 2025 was $46.2m, up 31% compared to the revenue of $35.3m in the same quarter last year.
The company’s Q4 EBITDA rose by 5% to $15.5m. That figure represents a 33% margin, compared with 42% in the prior-corresponding period.
Much of the momentum came from the company’s expanding sports data operations.
For example, revenue from sports data services climbed 440% year-on-year and 29% quarter-on-quarter to $11.8m.
The OpticOdds and OddsJam platforms contributed to the increase. The segment accounted for 26% of total quarterly revenue, its largest share to date.
Marketing services revenue reached $34.4m in the quarter. That figure marked a 4% rise year-on-year and a 15% increase sequentially.
For the first time, more than half of marketing revenue came from sources not reliant on organic search referrals, reflecting efforts to diversify traffic channels.
Gambling.com Group co-founder and CEO Charles Gillespie said: “The focus for 2026 will be on increasing our coverage of different sports and leagues to better address the needs of operators outside the US while also developing innovative new features for our anchor customers here in the US.
“Over the last several years we have significantly diversified our sources of revenue and the number of markets we address. This has positioned Gambling.com Group with a sports data services business which is fast growing, high-margin, high-visibility and powered by recurring subscription revenue.”
Gross profit rose 19% year-on-year in Q4 to $39.3m. Cost of sales totalled $6.9m, compared with $2.2m in the same quarter of 2024.
Greater spending amid loftier marketing goals
The higher costs largely reflected investment tied to the company’s strategy of broadening marketing traffic sources.
Total operating expenses, excluding certain non-cash fair value movements, increased 32% to $26.9m.
These costs were linked mainly to higher headcount associated with the acquisitions of Odds Holdings and Spotlight.Vegas, along with increased marketing expenditure.
With non-cash items and acquisition-related expenses included, total operating expenses came in at $64.9m, compared to $23.3m during the prior-year quarter.
The net loss came in at $26.9m or $0.77 per diluted share.
This was primarily due to a fair value adjustment related to contingent acquisition payments and a non-cash impairment expense of $14m related to intangible assets.
In the same quarter of 2024, the company reported net income of $7.9m, or $0.23 per share.
Adjusted net income remained stable at $12.2m, or $0.30 per share. Adjusted EBITDA reached $15.5m despite increased marketing costs and higher interest expenses connected to the company’s credit facility.
Operating cash flow for the quarter was negative $9.9m compared with positive $13.7m a year earlier. Adjusted free cash flow totalled $7.5m, down from $13.2m in the prior-year quarter.
The shift largely reflected deferred consideration payments linked to the termination of the Odds Holdings earnout.
Over $130m available in cash and credit
As of 31 December 2025, Gambling.com Group held $15.8m in cash and $123.6m in borrowings under its Wells Fargo credit facility.
During Q4 2025, the company drew $38m from the facility and settled $33.6m in deferred consideration related to the Odds Holdings acquisition.
The company repurchased 109,776 shares during the quarter for $0.9m. Across the full year, buybacks totalled 671,998 shares for $5.6m.
Approximately $14.4m remains available under the existing share repurchase authorisation.
For the full year, revenue came in at $165.4m, a rise of 30% over revenue of $127.2m in 2024.
The adjusted EBITDA increased by 19%, reaching $58m. The adjusted net income grew by 23% and came in at $51.8m.
For the upcoming year of 2026, the revenues are expected to close between $170m and $180m. The adjusted EBITDA is expected to come in between $50m and $58m.
The growth in revenues is expected to come from enterprise sports data services, whereas search trends and regulatory changes in the UK and Finland may impact the marketing business.
Gambling.com’s six-month high on Nasdaq was $8.49 on 29 September. As of 11 March, the stock is trading at $4.14 after a steady decline in value.
However, it’s trending upward after bottoming out at $4.05 on 9 March.
