Gambling.com Group reports 30% increase in revenue for Q2 2025, net loss of $13.4m

Gambling.com Group has reported its financial performance throughout the second quarter of 2025, increasing revenue by 30% year-over-year to $39.6m, while also witnessing a net loss of $13.4m, equating to a decrease of 294% from the prior year period. 

The net loss may have been primarily affected by the company’s recent acquisition of Spotlight.Vegas in a transaction expected to affect Gambling.com Group’s financial results for full-year (FY) 2026. Gambling.com Group will pay $8m at closing as well as up to an additional $22m subject to certain performance targets being eclipsed through the end of 2027.

“As we continue to invest to expand our footprint in the gambling and entertainment ecosystem, the strategic acquisition of Spotlight.Vegas provides us with yet another scalable, technology platform which complements our existing portfolio and moves us another step closer to our goal of $100 million in Adjusted EBITDA,” Gambling.com Group Co-Founder and CEO Charles Gillespie said. 

“Our second quarter performance was driven by two factors which reflect important broader trends in our business. First is an accelerating diversification away from the traditional search channel in favor of a more omnichannel approach, in particular with the marketing business. Second is an accelerating diversification into revenue models beyond marketing, including sports data services.”

Gambling.com Group stated it anticipates the acquisition will generate net revenue of “at least” $8m as well as adjusted EBITDA growth of $1.4m for the FY2026 period.

Despite the net loss reported for Q2 2025, adjusted EBITDA increased by 22% from the prior year period for a total of just under $13.7m. Gross profit increased 27% year-over-year to $36.9m, while total operating expenses grew by approximately $30m from the prior year period to cost $51.3m throughout Q2 2025. 

Good to know: Bragg Gaming Group announced its financial results for the second quarter of 2025 on August 14, starting off with revenue of €26.1m ($30.5m), a 4.9% increase over the same period in 2024

“Second quarter revenue of $39.6 million and Adjusted EBITDA of $13.7 million reflect year-over-year growth of 30% and 22%, respectively, further demonstrating our attractive growth platform,” Gambling.com Group CFO Elias Mark said. 

“The acquisition of Spotlight.Vegas adds a complimentary new business which helps consumers access experiences and further diversifies our sources of revenue and cash flow with a new set of clients, including entertainment venues and a multitude of land-based casinos.”

The net loss was also said to be attributed to the “fair value movement in contingent consideration related to OddsJam and OpticOdds,” which Gambling.com Group officially acquired in January 2025. 

Gambling.com Group also adjusted its FY2025 guidance to a revenue range of $171m–$175m and an adjusted EBITDA range of $62m to $64m. The company reported increases for each market in which it currently operates in, including North America which increased 56% to $19.1m The UK and Ireland grew 12% to $11.1m, while other Europe markets rose 15% to account for $6.6m. 

Performance marketing generated the highest revenue for Gambling.com Group monetization types, reporting just under $25m and growing 3%. Subscription revenue rose 415% and accounted for $10m, while advertising & others produced the remaining $4.6m. 

Casino products reported a Q2 2025 revenue of just over $23.7m, rising by 8% year-over-year, as sports products was a near second with $15.1m and increasing by 82%.

Kirk Geller

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