Kambi increased third-quarter revenue by 23% to €46 million as the sportsbook technology supplier benefited from new partner launches and a busier sporting calendar. Adjusted EBITA rose 161% to €7.9 million, lifting the margin to 17.3% from 8.2% a year earlier.
The company's quarterly report shows gross profit of €37.2 million, up 16%, while operating expenses were nearly unchanged at €29.2 million. Operating profit more than tripled to €5.1 million, and profit after tax reached €3.4 million.
Revenue growth received support from the closing stages of the FIFA World Cup, favourable currency movements and launches with new partners. NEXT.io notes that the Ontario Lottery and Gaming Corporation and France's PMU were among the brands brought onto Kambi technology during the period. Lower operator trading margins in August and September limited part of that benefit.
Kambi generated €135.4 million in revenue during the first nine months, 13.5% more than a year earlier. Adjusted EBITA for the period doubled to €21.2 million. The improvement reflects revenue growth and operating leverage rather than a large reduction in quarterly expenses.
G3 Newswire reported that the supplier continued to expand its partner network while improving profitability. Management now expects full-year adjusted EBITA of about €26 million, although the final result will still depend on sporting outcomes, partner performance and currency movements.
