Gambling.com's Q3 2025 earnings exceed forecasts
On 13 November, Gambling.com Group Ltd published its financial results for the third quarter of 2025, showing clear evidence of strong growth in earnings per share (EPS). The international marketing company, which provides digital services to the iGaming industry, is registered in Jersey and trades on the NASDAQ under the ticker symbol GAMB.
Despite the positive earnings figures, the company’s shares fell sharply in price, down 20.2% in premarket trading to $5.45.
The company’s revenue exceeded $38 million
In the third quarter of 2025, Gambling.com Group’s earnings per share were a solid $0.26, marking a substantial 52.94% increase compared to the forecast of $0.17. The company’s revenue reached $38.98 million, which is 5.5% lower than the expected $41.25 million. Investing.com reports that revenue has grown by 21% compared to the same period last year.
Sports data services showed particularly noticeable growth, with their revenue increasing fourfold. Adjusted EBITDA was $13 million, up 3% from a year earlier. Gross margin remained high at 91.2%, and free cash flow reached $9.6 million.
Despite strong EPS figures, investors reacted negatively to the shortfall in revenue and the potential risks of a slowdown in growth. GAMB shares fell 20.2% in premarket trading, approaching their annual lows. The figure reflects concerns about future financial results and market stability.
Updated revenue forecast
In light of its third-quarter results, the company has revised its annual revenue forecast to approximately $165 million. In 2026, Gambling.com Group expects low double-digit revenue growth, with sports data services growing in the high double digits and the marketing business in the low double digits. The company intends to maintain its EBITDA margin at 30-35%.
Charles Gillespie, the CEO (pictured), is convinced that the company’s product strategy is the key to success: ‘Our product is our strength. Our solution is as good as Tesla’s, and it will sell itself.’
CFO Elias Mark highlighted the robustness of the financial model, noting strong cash flow: ‘Together with a healthy balance sheet and unused credit lines, this gives us the flexibility to optimise our capital structure and grow shareholder value.’
Risks and challenges for iGaming marketing
Failure to meet revenue targets could negatively impact investor confidence and cause volatility in Gambling.com Group’s shares. In addition, there are risks at the global level:
- The UK budget changes pose a risk of reducing LTV (lifetime value of a player), which could affect the profitability of marketing companies in the iGaming industry.
- Dependence on irrelevant marketing channels increases revenue volatility and reduces user acquisition efficiency.
- Competition and saturation in the sports data market create additional challenges for growth and market share retention.
In addition, Google’s expected algorithm update in December may affect organic traffic, which is particularly critical for SEO-focused companies.
Relying on investments in diversification and product development
During the conference call, analysts showed particular interest in the recovery of the marketing direction and the plans to expand managed trading services. Gambling.com Group management is confident about the recovery. They are relying on investments in diversification and product development.
The company also provided a considered response to the possible consequences of changes in the UK budget.
Gambling.com Group continues to demonstrate strong financial performance despite market volatility and is betting on innovation, diversification and growth in North America.
This article was first published in Russian on 13 November 2025.
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