Gambling.com Group has released its financial results for the second quarter of 2021, showing a drastic 66 per cent increase in its revenue, which hit $10.4 million (€8.85 million).
It came as the company in May completed its re-domiciliation from Malta to the Channel Island of Jersey.
Net income rebounded into the positive, hitting $2.4 million (€2.04 million), compared to a net loss of $400,000 (€340,338) in the same period a year earlier.
The report is the company’s first as a publicly-traded company, subsequent to its listing on the Nasdaq Global Market under the ticker symbol ‘GAMB’.
“Our second-quarter results (which were our first interim financial results as a public company) were highlighted by continued strong top-line growth, and, based on our Adjusted EBITDA margins, we are among the most profitable names in the online gambling industry,” said Charles Gillespie, CEO and co-founder of Gambling.com Group.
“Since our founding in 2006, we have built an affiliate marketing powerhouse with recognizable brands around the globe. Players trust our services to help them find a safe, fun and legal betting experience while our B2C operator clients utilize our best-in-class technology platform to support their increasingly important customer acquisition initiatives”.
Also discussed in the financial report was the company’s successful launch of EmpireStakes.com, BetArizona.com and IllinoisBet.com, which the Group says aim to provide with trusted and up-to-date specific gambling information to help them place safe and secure legal wagers.
Subsequently to the end of the quarter, the company also announced the appointment of Daniel D’Arrigo to its board of directors.
Mr D’Arrigo is an experienced leaders in the gambling industry, having served for more than a decade as executive vice president and CFO at MGM Resorts International.
Looking to the future, Elias Mark, CFO at Gambling.com Group, added that as a result of the strong performance in the period under review the company is expecting “to achieve or exceed” its financial targets for the full year 2021, before the effects of any acquisitions and without incurring further borrowings.
He has held senior positions in a range of renowned iGaming companies, including Evolution Gaming, Tain, NYX, and SG Digital
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Andrew, an accountant by profession and a certified public accountant, has a wealth of experience in the accounting field within the financial services and construction sectors