Gambling.com Group Limited has reported a robust performance for the third quarter of the year, with the group’s results bolstered by a commitment to organic growth and methodically building up its footprint in the online gambling industry and shored up by the return of the sports season in the US.
Return of Sports Bolsters Gambling.com’s Results
Commenting on those results, Gambling.com Group CEO and co-founder Charles Gillespie argued that the company experienced strong third-quarter growth, up 37% year-over-year. Adjusted EBITDA saw a 34% increase, Gillespie continued. The executive saw the return of the NFL season and other sporting events as drivers of revenue from September onward.
“Importantly, after the quiet summer months of July and August, we delivered all-time-high revenue in September. With the launch of Arizona and the kickoff of the NFL season, we saw a significant uplift in US revenue in September, and our US performance exceeded our internal expectations.”Gambling.com Group Charles Gillespie
Present results give the company confidence about its growth trajectory in the fourth trajectory, which will be further boosted by the NBA and other mainstream sporting events, including the restart of all S-tier soccer leagues.
An Eventful Month for Gambling Group
Revenue in the quarter hit $10.1 million, up 37% compared to the same period last year. Net income reached $4.7 million, and free cash flow decreased 81% to $0.8 million compared to $3.9 million year-over-year.
There have been several successful landmarks in the quarter as well. The company completed its public listing of common shares on NASDAQ under the GAMB ticker. The company appointed Daniel D’Arrigo to its board of directors and received a temporary supplier license from the Arizona Department of Gaming.
The company went ahead and launched several brand properties oriented towards the affiliate gambling space with Marylandbets in Maryland, casinosource in the Netherlands, and the Dutch domain for gambling.com.