Kambi Group reported iGaming revenue of €43.5 million for the first quarter of 2026, representing an increase of 4.9 percent, compared to the same period last year, alongside improvements in profitability and operational performance.
Adjusted EBITA rose to €5.7 million, up from €3.5 million in Q1 2025, with the margin increasing to 13 percent from 8.4 percent.
Operating profit reached €4.2 million in Q1, compared to €800,000 in the prior year, while operating expenses declined slightly to €31.9 million.
Progress
The iGaming supplier also reported continued progress across its partner network, including selection by the Atlantic Lottery Corporation and British Columbia Lottery Corporation to provide a multi-province sportsbook solution covering seven Canadian provinces.
Kambi also entered the regulated French market through a long-term partnership with Pari Mutuel Urbain, supporting the launch of a new online sportsbook.
Additional iGaming partner activity during the quarter included launches with the Ontario Lottery and Gaming Corporation, as well as new agreements with LCKY Group and Pickwin.
Development
Kambi also reported continued development of its Odds Feed+ product through a multi-year agreement with ComeOn Group, alongside expanded integrations with Hard Rock Bet Sportsbook, Coolbet and LeoVegas.
Cash flow for the period amounted to €7.3 million, slightly below the €7.7 million of the previous year. Total expenses remained broadly stable at €39.2 million.
Demand
The results reflect ongoing demand for sportsbook technology and services within iGaming, as operators and lotteries continue to expand their digital betting offerings across regulated markets.
“Our Q1 2026 results represent a strong start to the year and underscore the increasingly positive trajectory the business is now on,” affirmed Kambi Group CEO Werner Becher.
Strengthening
“Our strengthening financial and commercial position supports our guidance of a full‑year adjusted EBITA in the range of €20 million to €25 million.
“This outlook now reflects the impact of the newly-introduced sports betting tax in Colombia, which replaced the temporary VAT levy withdrawn in February. Although the new tax is expected to result in an approximate €4 million revenue reduction in 2026, we remain confident in our ability to deliver adjusted EBITA within our stated guidance range.
“Operationally, we are working closely with partners ahead of the upcoming FIFA World Cup, rolling out a series of product enhancements across front end, rewards, offering expansion and trading,” explained Becher.
Improvements
“These improvements are designed not only for the tournament itself, but to deliver lasting value well beyond it.
“At the same time, we continue to expand our AI‑driven trading capabilities. Following early-stage rollouts across tennis and basketball, more than 60 percent of Q1 bets were priced and traded by AI, a proportion that is set to increase further following the recent expansion into ATP tennis.
“While external challenges remain, we have started the year on the front foot,” continued the Kambi CEO.
“We are entering the busiest period of the global sports calendar with confidence. Against this backdrop, I believe the broader outlook for the business remains bright and I am encouraged by the opportunities ahead.”
