Kambi Group reported strong financial results for the third quarter of 2026, showcasing a 23% increase in revenue compared to the previous year, totaling €46 million. The adjusted EBITA saw an impressive growth of 161%, reaching €7.9 million.
The quarter, which ended on September 30, was significantly influenced by the FIFA World Cup and the launch of new partnerships. However, operator trading margins in August and September constrained potential revenue growth. In tandem with these figures, Kambi introduced a rebranding initiative that emphasizes its commitment to artificial intelligence, data-driven insights, and innovative betting products.
CEO Werner Becher remarked that the rebranding has positioned Kambi as a leaner organization, fully committed to capitalizing on the data benefits of its expansive network and proprietary AI trading system. This focus reinforces Kambi's status as a leader in AI-driven sports betting solutions.
The Q3 results were bolstered by the World Cup held in July, contributing a notable €4.2 million to revenues. Kambi acknowledged that while these costs would reduce the gross margin, negotiations with operators helped to mitigate potential profit margin impacts.
A key driver of Kambi's growth included new partnerships, particularly with the Ontario Lottery and Gaming Corporation and PMU. Additionally, favorable exchange rates, notably a rise in the Colombian peso, added approximately €1.7 million to revenues.
Overall, the total quarterly sportsbook turnover increased by 3% year-on-year. The World Cup's outcome did have some effect on overall turnover despite positive developments. The share of regulated markets in turnover slightly rose to 98.5% from 98.4%. Turnover in the Americas grew by 6.7%, reaching a total of 59.9%, while Europe experienced a downturn, decreasing by 3.1% to 36.4%.
Following these positive results, Kambi adjusted its EBITA guidance for the year to €26 million, up from an initial estimate of €23-27 million. Becher expressed optimism, stating that the momentum from recent quarters, coupled with a growing partner network, ongoing product innovation, and steadfast operational practices, fuels confidence for the future.
In response to the announcement, Kambi shares rose over 5%.
