Kambi revenue rises 23 per cent to €46m in third quarter

ambi Group has reported third-quarter revenue of €46m, an increase of 23 per cent compared with €37.4m in the corresponding period last year, as the sportsbook technology supplier continued to expand its partner network and improve operating profitability.

Adjusted EBITA increased by 161 per cent to €7.9m, with the margin rising to 17.3 per cent from 8.2 per cent. Operating profit reached €5.1m, compared with €1.6m a year earlier, while gross profit increased 16 per cent to €37.2m.

For the first nine months of 2026, revenue increased 13.5 per cent to €135.4m, while adjusted EBITA more than doubled to €21.2m. Following the quarterly performance, Kambi updated its full-year adjusted EBITA guidance to approximately €26m, compared with its previous range of €23m to €27m.

Kambi CEO Werner Becher said: “We delivered revenue of €46m in the quarter, a year-on-year increase of 23%, while adjusted EBITA (acq) in the same period more than doubled to €7.9m, reflecting the strength of our diversified business model, continued cost discipline and favourable FX movements. Following this performance, and despite disappointing regulatory changes in Brazil, we are today updating our full-year adjusted EBITA (acq) guidance to around €26m from €23 – 27m.”

The latter stages of the FIFA World Cup contributed to strong betting activity at the beginning of the quarter, helping Kambi achieve an operator trading margin of 11.9 per cent, its second-highest quarterly margin on record, despite less favourable sporting results during August and September.

Commercial developments included a 10-year omni-channel sportsbook and player account management partnership with Station Casinos in Nevada. The operator is preparing to launch Kambi’s sportsbook and PAM technology through a Nevada regulatory field test ahead of a wider rollout.

Kambi also secured Turnkey Sportsbook agreements with Pure Casino Entertainment and QuinnBet, alongside an Odds Feed+ partnership with RETABET, while supporting multiple operator launches in Alberta’s newly regulated online market.

Addressing the impact of Brazil’s decision to ban online gambling, Becher said: “The disruption caused by Brazil’s decision to ban online gambling highlighted the strength of our partner network. Given our growing partner base and geographical footprint, Brazil accounted for a low single-digit percentage of Kambi’s 2026 revenue, although the development could remove the long-term growth potential of the market.”

The company reported further progress in deploying its proprietary AI trading technology, which now handles 85 per cent of bets across its network. The system is being extended to basketball, American football and table tennis, with 59 per cent of AI-traded live bets now accepted without a live betting delay.

Kambi has also consolidated Abios, Shape Games and Tzeract under the Kambi brand as part of an internal restructuring intended to improve operational efficiency and strengthen its AI-powered sportsbook offering.

Becher added: “The momentum generated over recent quarters, combined with our expanding partner network, continued product innovation and operational discipline, gives us confidence in the future. Supported by our powerful network, proven technology and a clear strategic focus, I believe the business is well positioned to deliver sustainable long-term value for both partners and shareholders alike.”