Gambling.com Group Ltd (GAMB) Q3 2024 Earnings Call Highlights: Record Revenue and Raised ...

GuruFocus.com11-15

Revenue: $32.1 million, a third quarter record, up 37% year over year. Gross Profit: Increased 43% year over year to $30.4 million. Gross Margin: Increased to 95% from 91% in last year's third quarter...

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GuruFocus has detected 2 Warning Sign with GAMB.\n\nRelease Date: November 14, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nGambling.com Group Ltd (NASDAQ:GAMB) achieved a third-quarter revenue record of $32.1 million, driven by a 37% year-over-year increase.\nThe company raised its full-year revenue guidance, with a midpoint indicating 16% growth and adjusted EBITDA growth of 29%.\nGross profit increased by 43% year-over-year, with a gross margin improvement to 95% from 91% in the previous year.\nThe Freebets.com acquisition has been successfully integrated, contributing positively to the company's growth.\nGambling.com Group Ltd (NASDAQ:GAMB) has repurchased over 8% of its outstanding shares, demonstrating confidence in its financial position and future prospects.\n\n Negative Points \n\nNorth American revenue is expected to be down compared to 2023 due to challenging comparables and limited new state launches.\nTotal operating expenses increased by 25% to $20.8 million, reflecting higher headcount and amortization expenses.\nThe company faces two more quarters of challenging comparables in North America, impacting short-term growth.\nThe cost of sales guidance was raised, indicating potential pressure on margins.\nThere is uncertainty regarding the regulatory environment in Brazil, affecting the company's ability to aggressively enter the market.\n\n Q & A Highlights \nQ: Can you elaborate on the strong iGaming growth in the UK and Europe, and the impact of the Freebets acquisition? A: Charles Gillespie, CEO, explained that about half of the growth in the UK and Ireland was organic, with the Freebets acquisition contributing significantly. The integration of Freebets was completed in six months, and the acquisition is now fully integrated into their technical platforms. The legacy revenue share from Freebets is healthy, and new player acquisitions are improving, although from a low base.\nQ: How does Gambling.com Group differentiate itself from peers like Betco and Catena, especially given market challenges? A: Charles Gillespie highlighted that Gambling.com Group raised guidance, indicating strong performance. Unlike some peers, the company focuses on an organic growth strategy rather than a roll-up strategy. They have a strong core built around technology platforms and brands, ensuring any M&A is well-integrated and strategically aligned.\nQ: What is the current state of the M&A pipeline, and how does it differ domestically and internationally? A: Charles Gillespie noted that the M&A pipeline is very active, with fewer buyers in the market, creating a buyer's market. The company is exploring opportunities beyond traditional affiliate assets, considering what else they could offer to B2C users and B2B customers, broadening their scope for potential acquisitions.\nQ: What are your thoughts on the potential of sweepstakes and predictive markets from an affiliate perspective? A: Charles Gillespie stated that sweepstakes highlight the demand for casino-style games in the U.S., potentially spurring more states to legislate iGaming. They work with sweepstakes systems that meet their KYC and legal requirements. Predictive markets have a bright future, and while they are not currently working with them, they are considering developing those relationships.\nQ: How does Gambling.com Group plan to grow in the rapidly evolving U.S. sports market and the slower-growing iGaming market? A: Charles Gillespie mentioned that iGaming in North America is performing well, with significant market share gains. While sports face some headwinds, they expect North American business to return to double-digit growth after Q1 2025. This growth is anticipated even before any new state launches or additional gaming products.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483312832"}