Kambi Q2 2026 revenue rises 13.5 per cent as World Cup lifts earnings
Kambi Group reported a sharp improvement in profitability for the second quarter of 2026, supported by higher revenue, cost control and strong betting activity during the FIFA World Cup.
Revenue rose 13.5 per cent year on year to €45.9 million, compared with €40.5 million in the same period of 2025. Adjusted EBITA more than doubled to €7.6 million from €3.7 million, taking the margin to 16.5 per cent from 9.3 per cent.
Operating profit increased to €5.8 million from €1.6 million, while profit after tax reached €3.4 million, up from €0.2 million. Earnings per share climbed to €0.128 from €0.009. The improvement came despite credits issued in connection with operational problems in April and the impact of the FDJ UNITED and LeoVegas migrations. New launches, including Ontario Lottery and Gaming and PMU, helped support revenue during the quarter.
Operating expenses fell slightly to €31.5 million from €31.7 million, reflecting the company’s ongoing efficiency programme. Kambi ended June with a net cash position of €33 million, after spending €8.1 million on share repurchases during the first half of the year.
For the six months to June, revenue increased 9.1 per cent to €89.4 million. Adjusted EBITA rose 83 per cent to €13.3 million, while operating profit increased to €10.1 million from €2.4 million.
World Cup turnover passes €1 billion
The 2026 FIFA World Cup was the main operational driver during the period, with 78 matches taking place in the second quarter. Across the full tournament, Kambi processed more than €1 billion in Turnkey Sportsbook stakes and recorded an operator trading margin of 18 per cent. The platform handled more than 100 million Turnkey Sportsbook bets, as well as additional activity through its Odds Feed+ service.
The tournament was the first major football competition to be fully managed by Kambi’s automated trading system. Markets were priced, managed and settled without manual intervention, while more than one million unique bets were processed during the final alone.
Kambi said its AI trading technology was responsible for around three-quarters of all bets placed through its network during Q2. The system also managed parts of Roland Garros and Wimbledon, while preparations continued to extend the technology to basketball and ice hockey.
The Americas generated close to 60 per cent of Kambi’s global World Cup turnover, compared with 38 per cent during the 2022 tournament. The company said its larger partner network across Canada, the US and Latin America helped offset less favourable kick-off times for European operators. Live Bet Builder also accounted for 22 per cent of all live bets during the tournament, up from 3 per cent at the 2022 World Cup.
Turnover Index and Operator Trading Margin – Kambi. Source: Kambi
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Canadian expansion continues
During the quarter, Kambi continued to expand its commercial presence in North America. The company was selected by the Atlantic Lottery Corporation and the British Columbia Lottery Corporation to provide the technology required to launch a new Canadian sports betting service covering several provinces. The agreement will cover government-regulated betting operations in seven provinces.
Kambi also partnered with Pure Casino Entertainment ahead of Alberta’s regulated online betting market opening on 13 July. Other agreements included a multi-year Odds Feed+ deal with RETABET Group and an expansion of its partnership with 4 Bears Casino & Lodge to include player account management technology.
Chief executive Werner Becher said the first half of the year showed that Kambi had “turned a corner and returned to growth,” supported by product development, commercial progress and the company’s shift towards an AI-led operating model.
Following the stronger results and the completed World Cup, Kambi raised its estimated full-year adjusted EBITA range to between €23 million and €27 million, from its previous forecast of €20 million to €25 million.
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