B2B sports betting service provider Kambi Group has reported its 2024 Q4 and full-year revenue. Kambi made €44.5 million and €176.4 million in revenue, respectively.
Kambi Group reported that adjusted EBITA for Q4 was €7.1 million, representing a margin of 16% but down 6% year-over-year, and €25.3 million for the 2024FY, a margin of 14.3%, up 5% year-over-year.
Operating profit reported by Kambi Group was down from the previous year, resulting in an operating profit of €5.9 million for the fourth quarter, a 17% decrease compared to the previous year. Operating profit for the 2024FY was reported at €20.1 million, a slight increase from 2023, which was reported at €20 million.
Kambi also listed its key highlights from the year, asserting its day-one launch in the recently regulated Brazilian market and the landmark Odds Feed+ partnership with operator Hard Rock Digital, which saw its platform launched in several U.S. states, as essential to revenue growth.
The sports betting provider also mentioned highlights for its fourth quarter, including being awarded its Nevada gaming license by the Nevada Gaming Commission on 30 January and providing 1,200 bet offers to its operator partners during Super Bowl LIX.
Kambi Group CEO, Werner Becher, commented, “The final quarter of 2024 was marked by significant achievements for Kambi. We concluded the year with new partner agreements across the majority of our product portfolio, initiated actions to address our cost base and delivered robust Q4 2024 financial results.”