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FinancialSports Betting

Kambi reports €43m in Q2 2021 revenue

Kambi has reported revenue of €42.8m ($50.4m) for the second quarter of 2021, an increase of 189% from the prior-year period.

kambi q2q2

EBIT for Q2 2021 was €16.6m, at a margin of 39%, while result after tax amounted to €13.4m. Earnings per share for the period were €0.432, with cash flow from operating and investing activities amounting to €11.4m.

The group noted several highlights from the quarter, including an operator trading margin of 9.3% and a net cash position of €84.5m, as well as the further expansion of its US presence, supporting Churchill Downs Incorporated, Penn National Gaming and Kindred with sports betting launches in four states.

Kambi also extended its footprint in the South American sports betting market by powering the launch of Olimpo.bet in Peru, while the company’s quarterly performance was boosted by “strong operator trading margins in the Euro 2020 soccer tournament.”

The group also reported its financial results for the first half of 2021, with operating revenues increasing by 102% year-on-year to €86m. EBIT for the period was €35.3m, while result after tax amounted to €28.4m. 

Earnings per share for 1H21 were €0.919, with cash flow from operating and investing activities amounting to €28m.

“I’m delighted to say Kambi’s positive momentum continued into the second quarter of the year, with strong financial results driven by the UEFA European Football Championship, compensating for a lack of NFL and college sports in the US,” said Kambi CEO Kristian Nylén.

“In June, we held a virtual Capital Markets Day, which enabled us to present our strategy for the future, including our position in markets with strong potential for growth, the global opportunities ahead and how we plan to capitalise on those opportunities.

“I believe that Kambi, more than anyone else in the market, has what it takes to be the world’s number one sportsbook provider in today’s increasingly regulated and competitive landscape.”

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