Kambi Q3 revenue increases 23% year-on-year to €46m

Kambi Group has reported revenue of €46m for the third quarter of 2026, up 23% from €37.4m a year earlier. The increase was supported by the latter stages of the Fifa World Cup, new partner launches and favourable foreign exchange movements.

Adjusted EBITA increased 161% to €7.9m, with the margin rising to 17.3% from 8.2%. Operating profit more than tripled to €5.1m from €1.6m, while profit after tax reached €3.4m, compared with €1m in Q3 2025.

For the first nine months, revenue increased 13.5% to €135.4m and adjusted EBITA rose 106% to €21.2m. Operating profit reached €15.2m, compared with €4m during the same period last year.

Quarterly sportsbook turnover increased 3% year-on-year, while operator trading margin reached 11.9%, its second-highest quarterly level. The Americas accounted for 59.9% of Q3 turnover after increasing 6.7%, while European turnover fell 3.1%.

Kambi also updated its estimated full-year adjusted EBITA to around €26m from its previous €23m to €27m range, supported by recent performance and foreign exchange tailwinds. The fourth-quarter estimate incorporates expected negative effects from operator migrations and regulatory changes in Brazil.

Brazil's decision to prohibit online gambling has reduced Kambi's longer-term opportunity in the market, although the country represented only a low single-digit percentage of its 2026 revenue.

Commercially, Kambi agreed a 10-year sportsbook and player account management partnership with Station Casinos, marking its first partnership in Nevada. It also expanded its network through agreements involving Pure Casino Entertainment, Retabet and QuinnBet.

Meanwhile, Kambi continued expanding its proprietary AI trading system. Around 85% of network bets are now AI traded, while 59% of AI-traded live bets are accepted with zero-second delay.

Kambi ended September with €40.9m in cash and cash equivalents after spending €13.1m on share repurchases during the first nine months of the year.