Kambi Q1 profit rises 189% as revenue climbs to €43.5m

Kambi Group has reported a stronger first quarter for 2026, with revenue rising 4.9% year-on-year to €43.5m ($50.9m) as new partner launches and a higher operator trading margin supported performance.

The sports betting supplier reported adjusted EBITDA of €14m, up 15%, while profit after tax increased 189% to €2.3m. Adjusted EBITA rose 63.5% to €5.7m, with the margin improving to 13.0%. 

Operating profit reached €4.2m, compared with €0.8m in Q1 2025, as total expenses remained broadly flat at €39.2m. Kambi said operating leverage and efficiency measures contributed to the improvement. 

Kambi Group CEO, Werner Becher, said: “During the quarter, we delivered improved financial performance alongside continued commercial momentum.”

The supplier maintained its full-year 2026 adjusted EBITA guidance of €20m to €25m. This now includes the expected impact of a newly introduced sports betting tax in Colombia, which Kambi estimates will reduce 2026 revenue by about €4m. 

Commercial activity during the quarter was led by new Canadian lottery agreements with Atlantic Lottery Corporation and British Columbia Lottery Corporation. 

The deal will see Kambi provide online and retail sportsbook technology across seven provinces. Combined with its existing Ontario Lottery and Gaming Corporation agreement, Kambi said it will power lottery sportsbooks in eight of Canada’s 10 provinces.

In Europe, Kambi entered France’s regulated sports betting market through PMU, which has launched a new online sportsbook integrating Kambi’s product alongside its racing offer.

Kambi also completed launches with LCKY Group in Sweden and Pickwin in Mexico, while Odds Feed+ activity included an agreement with ComeOn Group, expanded content delivery to Hard Rock Bet Sportsbook and launches with Coolbet and LeoVegas.

The quarter also showed continued product investment, with more than 60% of Q1 bets priced and traded by AI following rollouts across tennis and basketball.

Kambi’s Q1 update follows its 2025 Annual Report, when revenue fell 8.2% to €162m and profit after tax dropped 55.8% to €6.8m, although the supplier pointed to improved Q4 momentum and reduced reliance on its three largest partners.