Kambi Group, a leading B2B provider of sports betting technology and services to licensed B2C gaming operators, released its financial report for the first quarter of 2021 which looks like good news for shareholders going into Q2.

Financial summary:

  • Revenue amounted to €43.2 million (Q1 2020: €27.9 million) for the first quarter of 2021, an increase of 55 per cent
  • Operating profit (EBIT) for the first quarter of 2021 was €18.7 million (Q1 2020: €6.8 million) , an increase of 173 per cent, at a margin of 43.2per cent (Q1 2020: 24.5 per cent)
  • Profit after tax amounted to €15.1 million (Q1 2020: €4.8 million) for the first quarter of 2021
  • Earnings per share for the first quarter of 2021 were €0.487 (Q1 2020: €0.156)
  • Cash flow from operating and investing activities (excluding working capital movements) amounted to €16.5 million (Q1 2020: €4.1 million) for the first quarter of 2021

The sports betting technology and services provider headquartered in Valletta may attribute the rise in revenues to continued growth of the US market and a busy American sporting calendar.

Kambi offers a wide variety of services from compliance provision and odds-compiling to customer intelligence and risk management. 

The iGaming business continues to expand in the United States with offices in 14 States where the company provides regulated sports betting. Kambi is also expanding further afield, venturing into Australia and Argentina

Kambi is traded on the Nasdaq Stockholm.

Featured image: Kambi.com

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