GAMB - Gambling.com cruises to new high after posting strong Q1 guidance

2023-04-25 11:03:32 ET

Gambling.com Group Limited ( OTCPK:GAMN ) rallied in morning trading on Tuesday after guiding for Q1 revenue of $26.4M to $26.9M and net income of $6.3M to $6.8M.

CEO Charles Gillespie said the results reflect strong organic growth driven by the robust ramp up of the company's North American operations and ongoing momentum in established markets. "These preliminary results also highlight the benefits of our operating model which enables us to simultaneously deliver impressive top line, profitability, and cash flow growth," he added.

On Wall Street, Jefferies analyst David Katz said the update supports the firm's bullish view on the stock and positions the forthcoming earnings discussion toward longer term strategies and outlooks. Gambling.com ( NASDAQ: GAMB ) is seen as a beneficiary as investor interest continues to ramp in digital gaming.

Shares of GAMB pushed up 6.28% to $10.32 and carved out a new 52-week high of $10.71 earlier in the session.

More on Gambling.com:

• Read the latest breakdowns on Gambling.com from Seeking Alpha analysts
• View the growth metrics
• See the financial and valuation comparisons to sector peers
• Dig into the Seeking Alpha Quant Rating
• Check out a recent interview with Gambling.com's CEO

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