Kambi CEO Werner Becher says he is confident of a “much more stable base” for long-term growth as he outlined the sports betting technology supplier’s Q3 results.
Revenue for Q3 and the first nine months of the year was up two per cent year-on-year, to €43m and €132m, respectively.
Although, Becher was keen to point out that that figure rose to 16 per cent when excluding the Penn Entertainment transition fees and “one-off licence revenues” in Q3.
He admitted that Kambi is facing “difficult near-term headwinds”, with Q3 operating profit (EBIT) down to €3.6m from €4.6m a year ago.
But amid the roll-out of Kambi’s expanded product suite – such as the Odds Feed+ deal with Hard Rock Digital - Becher insisted that Kambi has a “bright future” with the “great potential of our new products.”
“One of my observations prior to taking this role was that although Kambi had seen some large operators move away in recent years, it still delivered growth, albeit modest, during this time,” he said.
“This gives me great confidence that, through the ongoing diversification of our products and partner roster, we will increasingly reduce the potential impact of future partner movement and create a much more stable base for long-term growth.
“In the meantime, however, we must deal with the challenges that losing partner revenue brings.
“This is why I am particularly happy with the recent progress we have made in modularising our sportsbook and expanding our revenue streams, aiming to come up to scale with these products within a couple of years.”
Becher backed Kambi to have a “more diverse, sustainable and faster growing business” after its current period of “transition.”
