Gambling.com Group, an online global gaming affiliate, has reported preliminary financial results for 2021.
The company estimates that North American revenue will grow approximately 90% and total revenue will be in the range of $42.1m and $42.5m. Net income will be in the range of $12.4m and $13.1m.
Adjusted EBITDA will be in the range of $18.2m and $18.7m, representing an adjusted EBITDA margin of 43% to 44%. Free cash flow will be in the range of $7.8m and $8.5m.
"The year is off to an incredibly strong start," said Charles Gillespie, CEO of Gambling.com Group. "It is great to see our investments at the end of 2021 start to pay off and help drive strong growth, despite a particularly challenging comparable period in the first quarter of 2021 coinciding with Covid-19 related measures."
The company also provided a January business update and introduced its financial outlook for 2022.
Gambling.com Group expects revenue for January to be the best month in its 15-year history, even before consolidating revenue from RotoWire.com, which was acquired on January 1, 2022.
Gillespie said, "I am delighted with the strength in our underlying business, even before consolidating revenue from RotoWire in January and BonusFinder from February. We continue to invest in the business and expect to deliver another year of strong organic revenue growth complemented with additional revenue from the recent acquisitions. Great acquisitions, the launch of sports betting in states like New York and Louisiana, the expected launch of a regulated market in Ontario, and the debut of our media partnership with McClatchy together give me confidence that 2022 will be another brilliant year for Gambling.com Group."
The company will provide a more detailed update on its financial performance for 2021 and fourth quarter 2021 during its fourth quarter earnings call planned for late March.
