GAMB - Gambling.com gains after posting strong Q1 growth

2023-05-18 07:51:43 ET

Gambling.com ( NASDAQ: GAMB ) issued its Q1 earnings report on Thursday after posting preliminary numbers late last month. The New Jersey-company pointed to industry-leading organic revenue growth as well as strong profitability and cash generation for the quarter.

Revenue was up 36% during the quarter to $26.69M and adjusted EBITDA rose 49% to $10.67M.

Gambling.com saw free cash flow of $6.21M durng the quarter vs. $1.37M a year ago.

"Our performance in the first quarter demonstrates both Gambling.com Group’s successful execution on our North American growth initiatives and our success in generating ongoing attractive growth in more established markets," noted CEO Charles Gillespie.

During the quarter, Gambling.com ( GAMB ) repurchased 69,128 ordinary shares at an average price of $9.76 per share. The company does not anticipate going live in any additional North American markets for the balance of the year.

The full-year outlook from Gambling.com ( GAMB ) is for revenue of $95M to $99M and adjusted EBITDA of $33M to $37M.

Shares of Gambling.com moved up 1.73% premarket on Thursday to $10.00.

More on Gambling.com:

• Gambling.com CEO eyes continued customer additions amid global gaming growth
• Growth metrics on Gambling.com
• Relative strength index and moving averages
• Seeking Alpha's Quant Rating for Gambling.com

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