Kambi has recorded revenue of €37.4m (£32.9m) for Q3 2025, representing a 13.1% decrease year on year (YoY) for the Stockholm-listed firm.
The supplier attributed the revenue decrease to factors including a quieter sporting calendar and new deposit limits introduced in the Netherlands.
“Increased gaming-related taxes in multiple jurisdictions, and new commercial terms of certain renewed contracts” were also cited as mitigating factors by bosses.
In addition to its Q3 results, Kambi has also announced the acquisition of the source code for player account management (PAM) platform Omega Systems.
The undisclosed deal will enable Kambi to enter the Nevada sports betting market, for which the supplier secured a licence earlier this year, as well as opening up future expansion opportunities.
Kambi will submit the platform for licensing in the state post-acquisition, with the expectation that the integrated product will be ready for launch by the end of H1 2026.
On the acquisition, Kambi CEO Werner Becher said: “Kambi is already the trusted home of premium sports betting solutions, and this acquisition reinforces that leadership position.
“While we remain platform-agnostic, the addition of an in-house PAM solution to our turnkey sportsbook ensures we can unlock commercial opportunities in Nevada and potentially in other jurisdictions as they arise.”
Looking at the Q3 results, adjusted EBITDA amounted to €11.6m, down from €13.5m the previous year, leaving an adjusted EBITDA margin of 31.1%.
Operating profit for the period came to €1.6m, down 55% when compared to the corresponding period last year.
This was after factoring in €12.7m worth of staff costs, data supplier costs of €5.1m and €8.3m of other operating expenses.
Taking away €820,000 of income tax, post-tax profit for the quarter totalled €1m, down 59% YoY.
As a result, Kambi has lowered its full-year 2025 guidance, with adjusted EBITA of around €17m now expected, down from initial projections of between €20m and €25m.
Management said the reduction was also as a result of FX movements, a “slower than anticipated” market in the newly regulated Brazil and the updated schedule to launch with Ontario Lottery and Gaming.
Becher remained optimistic about future opportunities on the horizon for the supplier.
He added: “Our Q3 financial performance was disciplined in a period impacted by a quieter sporting calendar, which last year included the Euros, Copa América and the Olympics, and the ongoing increased impact of gaming-related taxes.
“With the busy sporting calendar upon us, we continue to focus on delivering an unbeatable product and service to our partners while building the foundations for long-term growth.
“The recent commercial wins, ongoing improvements to our market-leading product, the opportunities that the PAM will create, as well as the continued progress of our efficiency programme are, together, evidence of the positive momentum we are building.
“When coupled with the exciting opportunities we continue to pursue, I have growing confidence we will deliver sustainable growth and long-term returns for our shareholders.”
The post Kambi profit falls 59% in Q3 as tax increases bite first appeared on EGR Intel.
Supplier reports revenue of €37.4m, while announcing the acquisition of source code for player account management platform Omega Systems
The post Kambi profit falls 59% in Q3 as tax increases bite first appeared on EGR Intel.