Kambi Remains Optimistic After 23% Q3 Revenue Growth

Sports betting technology provider Kambi reported a strong third quarter, with revenue up 23% year-on-year to EUR 46 million ($51.7 million) and adjusted EBITA more than doubling. The company also narrowed its full-year earnings guidance, citing improved profitability despite challenges in some jurisdictions. It remains to be seen whether Kambi can achieve sustained growth amid increasingly challenging regulatory conditions in key markets. Diversification Efforts Paid Off Revenue in the first nine months of 2026 was EUR 135.4 million ($152.2 million), up 13.5% from EUR 119.3 million ($134.1 million) during the same period in 2025. Third-quarter gross profit rose 16% to EUR 37.2 million ($41.8 million), but the gross profit margin dropped from 85.8% to 80.9%. Operating profit improved, reaching EUR 5.1 million ($5.7 million) compared to EUR 1.6 million ($1.8 million) in Q3 2025. Operating expenses remained largely stable at EUR 29.2 million ($32.8 million). Adjusted EBITA rose to EUR 7.9 million ($8.88 million) from EUR 3 million ($3.37 million) in the same period last year, increasing the margin from 8.2% to 17.3%. From January to September, adjusted EBITA more than doubled to EUR 21.2 million ($23.8 million). Following the results, Kambi improved its full-year adjusted EBITA guidance to roughly EUR 26 million ($29.2 million). CEO Werner Becher said the company’s performance reflected its diversified business, cost discipline and favorable currency movements. He also highlighted the strength of Kambi’s trading operation, which delivered an operator margin of 11.9% in Q3, its second-best quarterly performance. Overall, Kambi enters the final months of 2026 with an improved financial outlook. Kambi Focused on Technology and New Partnerships Kambi continued to prioritize commercial expansion. The company signed a 10-year agreement with Station Casinos to provide sportsbook and player account management services. Kambi also added Pure Casino Entertainment and QuinnBet to its Turnkey Sportsbook network. Outside the US, the company supported several operator launches in Alberta, Canada. However, Kambi was highly critical of Brazil’s decision to ban online gambling. Technology remains central to Kambi’s plans. Roughly 85% of the bets within its network are now traded through its proprietary AI system. 59% of live bets processed this way are now accepted with no additional delay. Kambi hopes this technology will improve trading efficiency, give users better betting options, and keep wagering opportunities available for longer. Kambi recently unveiled a refreshed brand identity and its new slogan, “Powerful Network. Proven Edge.” This move encompasses the company’s evolving position in network data, artificial intelligence, and flexible betting products. Kambi has folded Abios, Shape Games, and Tzerac into its main brand as it aims to achieve a leaner business structure and closer integration of its technology arms.