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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Kambi Group
Kambi Group (KAMBI) investor relations material
Kambi Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 revenue increased 23% YoY to €46.0m; adjusted EBITA (acq) rose 161% to €7.9m, supported by partner launches, cost discipline and favourable FX.
Full-year adjusted EBITA (acq) guidance was updated to ~€26m from €23–27m.
Financial highlights
Q3 revenue was €46.0m versus €37.4m; gross profit rose 16% to €37.2m from €32.1m.
Operating expenses were €29.2m versus €29.0m; adjusted EBITA (acq) was €7.9m versus €3.0m.
Operating profit was €5.1m versus €1.6m, and profit after tax was €3.4m versus €1.0m.
YTD revenue increased 13.5% to €135.4m.
World Cup data costs were fully recharged to partners.
Outlook and guidance
Q4 guidance excludes Brazil revenue; Brazil is expected to reduce YoY Q4 revenue by €1m and LeoVegas migrations by €2m, partly offset by FX.
FY 2026 assumptions include ~11% operator trading margin for the remainder of the year; 2026 expenses are expected to remain broadly flat despite inflation.
Q4 is expected to benefit from a busier sports calendar; Mohegan Sun transition fees of €600,000 ended after Q3.
2027 faces LeoVegas migration and the absence of the 2026 FIFA World Cup boost; new signings and cost control are offsets, with formal guidance planned alongside Q4 results.
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Latest events from Kambi Group
- Turnover grew 16%, while low margins and renewal terms weighed on profit.KAMBI
Q2 2017 - Turnover grew 16%, but revenue was flat as contract and cost pressures weighed on Q3 results.KAMBIQ3 2017
- Turnover grew, but weak betting margins cut Q4 profit as new customer deals broadened growth prospects.KAMBIQ4 2016
- Turnover surged 27%, but weak trading margins cut operating profit to EUR 1.4m.KAMBIQ1 2017
- Operator growth lifted Q3 revenue 15% and operating profit 25% YoY.KAMBIQ3 2016
- Operator turnover surged 46% as Euro 2016 helped drive 28% Q2 revenue growth.KAMBIQ2 2016
- Record Q4 revenue and customer wins; U.S. expansion remained conditional.KAMBIQ4 2017
- World Cup-led record revenue and positive operating profit marked a strong Q2.KAMBIQ2 2014
- Q2 2026 saw double-digit revenue growth, record World Cup margins, and upgraded profit guidance.KAMBIQ2 2026
Next Kambi Group earnings date
Q4 202617 Feb, 2027
Kambi Group
Next Kambi Group earnings date
Q4 202617 Feb, 2027
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Frequently asked questions
Providing odds for sportsbooks
Kambi is a company specializing in providing sports betting services and technology solutions to operators in the global gaming industry. Their comprehensive platform offers a range of products and services, including odds compiling, risk management, trading tools, and front-end user interfaces. The platform and data enables their clients to offer a seamless sports betting experience to their customers. Kambi is listed on the Stockholm stock exchange, but like much of the European gambling industry the company is headquartered and operates from the island nation of Malta.
Enabling a vast amount of betting opportunities
Betting on sports has been popular for a very long time but with the advent of online platforms for betting, it became a lot more accessible for consumers. There has been a worldwide boom of online betting interest in recent years, with more and more bettors looking for betting opportunities outside of their region. While many betting platforms still employ dedicated staff to manually adjust the odds after a variety of factors, it simply isn’t a feasible endeavor to do all of this in-house. For big matches such as the Champions League the odds are more often than not set and adjusted by teams of skilled professionals. But for matches with less interest, and due to the sheer volume of different alternatives offered through modern betting platforms, buying odds and betting solutions is a way to ensure a broad portfolio of matches and wager opportunities for customers.
Operating solely on a B2B-basis
The company operates on a B2B (business-to-business) model, partnering with gaming operators to enhance their sportsbook offerings and drive growth in the competitive sports betting market. In other words, Kambi does not own and run any betting platforms, but has instead chosen to focus solely on providing other companies with the tools that they need to provide odds and betting opportunities for their customers.
Focusing on the thriving european betting market
Kambi has a broad customer base in the gambling industry, including online gaming operators, land-based casinos, and sportsbook providers. They collaborate with well established gambling operators such as DraftKings, Kindred Group, LeoVegas, and many others. These partnerships allow Kambi to extend its services to diverse markets and regions globally. While Kambi operates in multiple jurisdictions, the bulk of their business is primarily focused on regulated markets in Europe, including the United Kingdom, Sweden, and several other European countries where online sports betting is legal, thriving, and supported by a broad customer base.