Ollie Ring Gambling Expert
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Read Full BioGambling.com Group reported first-quarter (Q1) revenue of $40.6 million, up 39% from $29.2 million in the same period last year.
The company’s first results of 2025 show significant top-line growth, improved profitability, and a continued investment drive in its core North American market.
Gambling.com EPS Rises 60% In First Quarter
Key statistics from the company’s first quarter are as follows for the three months ended 31 March 2025:
- Revenue of $40.6 million, up 39% from $29.2 million in Q1 2024
- Net income of $11.2 million, up 54% year-over-year
- Operating profit of $10.0 million, up from $7.9 million in the prior year period
- Basic earnings per share (EPS) of $0.32, up 60% from $0.20 in Q1 2024
- Cash generated from operations totaled $11.4 million
The affiliate emphasized that the acquisition of Odds Holdings Inc. was pivotal to Q1’s performance. “The principal reason for this acquisition was to accelerate U.S. expansion,” Gambling.com stated. The deal generated $8.6 million, or approximately 22% of group revenue in the quarter.
Catena Media, which also heavily focuses on the North American market, posted poor financials last week and outlined plans for 50 more job cuts as it aims to optimize costs.
Another affiliate, Gentoo Media, also posted results below expectations and is undergoing strategic restructuring and making redundancies.
Gambling.com Product Diversification Paying Dividends in Q1
This is not reflected at Gambling.com, where Q1 sales and marketing spending is up 58%, technology expenses are up 62%, and general and administrative expenses are up 22%.
While this shows higher operating costs, it aligns with the group’s strategy to aggressively pursue market share globally through both organic and merger and acquisition-led growth.
The Gambling.com group diversified its product portfolio, with subscription revenue growing 405.2% year-over-year to $9.9 million and making up 24.4% of total first-quarter revenue.
Revenue from CPA, Rev Share, and Hybrid models was still the predominant revenue driver, comprising 63.3% of Q1’s topline. Advertising on site and other revenue generated 12.3% of total revenue, generating $5.0 million for the three months to March 2025.
From a debt perspective, the group’s borrowing rose significantly to $88.5 million in Q125, up from $22.9 million in the previous quarter. The increase is owing to the drawdown of a $165 million syndicated credit facility, led by Wells Fargo. The facility includes a $90 million revolving credit line, of which $70.5 million (78%) remained undrawn.
The filing outlines that “the proceeds from the Wells Fargo Credit Facility are being used for working capital, to settle deferred consideration, for permitted acquisitions, and for general corporate purposes.”
Competitors Weakened by Google Policy and Search Slump
Investor confidence in GAMB is significantly stronger than that of three public competitors. Catena, Raketech, and Gentoo have all had topline revenue hit by Google policy change and underperforming search-related revenues.
Gambling.com has shown, particularly through recent revenue diversification and continued investment, that growth is still possible in a tricky affiliate market.
The group still saw a decrease in share price following its earnings announcement, but the trend over six months is 3.23% growth, compared to -60.97% for Catena, -43.45% for Raketech and -40% for Gentoo Media.
