Gambling.com Group reports Q2 2021 financial results
Revenue grows 66% to $10.4m, EBITDA up 46% to $5.5m
Gambling.com Group Limited, a provider of digital marketing services to the global online gambling industry, on Thursday reported its operating and financial results for the second quarter, a three-month period ending June 30.
The company said it had Q2 revenue of $10.4m, up 66% from $6.3m in the same period for the prior year. Net income for the just completed quarter was $2.4m, or $0.08 per diluted share, compared to a net loss of $0.4m, a loss of $0.02 per diluted share, in Q2 2020.
Adjusted EBITDA for Q2 2021 was $5.5m, an increase of 46% compared to $3.8m in the same period for the prior year, representing an adjusted EBITDA margin of 53%.
The company said it ended Q2 2021 with free cash flow of $3.1m, a decrease of 3% compared to $3.2mat the close of the same quarter last year.
Charles Gillespie(pictured), co-founder and CEO of Gambling.com Group, said the company notched several business highlights during the second quarter of this year, including completing redomiciliation from Malta to the Channel Island of Jersey in May.
The company launched EmpireStakes.com, BetArizona.com and IllinoisBet.com, which Gillespie said now are providing bettors with up-to-date, state-specific gambling information to help them place safe and secure legal wagers.
In addition, it completed acquisition of two domain portfolios it says are suitable for targeting the US market.
After quarter end, the company completed successful public listing of common shares on the Nasdaq Global Market under the ticker symbol “GAMB.”
“Our second quarter results, which were our first interim financial results as a public company, were highlighted by continued strong top-line growth, and, based on our adjusted EBITDA margins, we are among the most profitable names in the online gambling industry,” Gillespie said in a statement. “We are incredibly excited about the next step in this journey as a public company and look forward to sharing the success with our new investors.”
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