Gambling.com Group has confirmed it has cut its headcount by 25% as part of an AI push which the company expects to deliver $13m in annualised savings.
The confirmation came following EGR reporting on the matter on Thursday, 14 May, after several employees announced they had been affected by the restructuring.
Employees from multiple departments and locations were impacted by the redundancy programme, including those in finance, SEO and content.
Kevin McCrystle, the incoming Gambling.com Group CEO, said the shift was part of implementing “AI-first working principles” and a “foundational layer of how the entire organisation operates”.
The New York-listed business revealed the cuts as it published its Q1 2026 earnings report today, 15 May, with revenue flat at $40.4m (£30.3m) year on year (YoY).
Gambling.com Group’s shares are down almost 30% in pre-market trading following the report’s release.
Speaking on the subsequent analyst call, McCrystle revealed that 80% of code is being generated by AI at Gambling.com Group.
Bosses confirmed the restructuring would cost around $2.5m, with the $13m in savings including the increase in AI usage costs.
Current CEO, Charles Gillespie, who will be executive chair following the group’s AGM this month, said it was imperative for the business to move quickly in the AI space.
He noted: “I think there’s more risk in not moving fast enough than moving too slow. We want to be at the forefront on this, and that means we need to be leaning in and very proactive.”
Additionally, Gillespie hinted there could be a rebrand in the offing for Gambling.com Group as it continues to ramp up its sports data services arm.
The business completed its acquisition of Odds Holdings in 2025 to expand its product footprint.
In response to a question regarding a change from StoneX’s Michael Hickey, Gillespie said: “We are considering something. We won’t talk about that until its ready to go.
“But Gambling.com, the product, at this point is a smaller portion of Gambling.com Group’s overall portfolio than its probably ever been.
“I would agree there is some potential merit and logic to thinking about a different brand.”
On the financial front, Gambling.com Group said the $40.4m in revenue was in line with expectations as the affiliate side of its business was hampered in the UK and Finland.
Traditional affiliate revenue was down 5% YoY due to “poor organic search dynamics and regulatory headwinds”, while sports data services was up 13% to $11.2m.
Adjusted EBITDA slid 43% to $9m and net profit of $11.2m in Q1 2025 swung to a $1.2m loss in the opening three months of this year.
Management said the increased costs around AI and other expenses had driven earnings down.
The affiliate arm delivered 140,000 new depositing customers in Q1 2026 versus 138,000 in Q1 2025.
Following the publication of the Q1 earnings, bosses have reduced full-year 2026 guidance.
Revenue is now expected to land between $165m and $170m, with adjusted EBITDA between $45m and $50m.
Gambling.com Group said this was due to continued issues in the UK surrounding tax hikes, as well as in Finland, where new regulations will hamper the affiliate sector.
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Restructuring expected to save around $13m per year, with bosses also noting a potential corporate rebranding could be in the offing as stock falls 30% in pre-market trading
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