Gambling.com Group has announced its financial results for the fourth quarter and full year of 2024.
In the fourth quarter, revenue increased by 9% year-over-year to $35.3 million, and net income for shareholders increased by 24% to $7.9 million.
The adjusted EBITDA growth was particularly significant, reaching $14.7 million, an increase of 39%, with a profit margin of 42%.
The company's free cash flow also grew by 102%, reflecting its ability to effectively convert earnings into liquidity.
Annually, Gambling.com Group reported a revenue increase of 17% to $127.2 million, net income soared by 68% to $30.7 million, and adjusted EBITDA grew by 33% to $48.7 million.
Looking ahead, the company has set ambitious targets for 2025. Gambling.com Group expects full-year revenue to be between $170 million and $174 million, a year-over-year increase of 35%, while adjusted EBITDA is expected to grow by 40%, reaching between $67 million and $69 million.
CEO Charles Gillespie commented on these results, saying: "Our record fourth quarter and full-year performance benefited from our team prioritizing iGaming in the markets we operate in.
"Our team performed exceptionally well this quarter, especially compared to the launch-driven performance of the same period last year.
It is worth noting: The integration of Odds Holdings was completed in January 2025, expected to contribute approximately $14.5 million in incremental adjusted EBITDA
"We expect that by 2025, our performance marketing business will achieve growth and continue to expand market share in all regions, including North America. Our competitive position globally is very strong."
CFO Elias Mark added: "Fourth quarter revenue and adjusted EBITDA grew by 9% and 39% year-over-year, respectively, with over 80% of adjusted EBITDA converted to free cash flow, reflecting our continued success in optimizing returns on our global portfolio of owned and operated assets.
"As expected, we saw strong online casino growth in all geographic areas, while our North American business continued to show resilience in the face of tough competition.
"As reflected in our full-year guidance, we expect significant year-over-year growth in revenue and adjusted EBITDA for 2025, and we are well-prepared to maintain this operational momentum."
