Acquisitions services provider Gambling.com Group has released its preliminary 2023 financial results for the first quarter. The company estimated its total revenue will fall between the range of $26.4m to $26.9m.
According to the preliminary report, net income for Q1 could range from $6.3m to $6.8m. Estimated adjusted EBITDA and adjusted EBITDA margin for the first quarter will range between $10.3m to $10.8m and 39% to 40% respectively, according to the company report.
Group Co-Founder and CEO Charles Gillespie discussed the company’s initial results and noted that these figures represent a period of significant growth for Gambling.com Group.
He commented: “Our preliminary 2023 first quarter results exceeded internal forecasts. These results reflect strong organic growth driven by the robust ramp up of our North American operations and ongoing momentum in our established markets.
“These preliminary results also highlight the benefits of our operating model which enables us to simultaneously deliver impressive top line, profitability, and cash flow growth.”
Gillespie went on to add that the affiliate believes it could surpass previous revenue highs during 2023.
“With the strong start to 2023, we remain confident that Gambling.com Group is on track for another year of record revenue, adjusted EBITDA and free cash flow.”
Gambling.com recently started providing marketing services in the Canadian province of Ontario for licensed online sports betting and iGaming operators and has also had successful launches in Kansas, New York and Louisiana.
The company is scheduled to post its official Q1 2023 financial report during the middle of next month.
