Kambi Group upgrades 2026 guidance after strong third quarter

Kambi Group PLC raised its full-year 2026 earnings guidance on Wednesday following a strong third quarter performance driven by World Cup results.

The online sports betting platform provider now expects full-year 2026 EBIT at the upper end of its previous guidance range. The company upgraded its EBITA guidance to €26 million from a previous range of €23-27 million, representing a 4% increase at the midpoint.

Third quarter revenues rose 23% year-over-year to €46.0 million. EBITA increased 161% to €7.9 million, representing a 17.3% margin.

Operator turnover index grew 3% while operator margin expanded 1.6 percentage points to 11.9%. The margin improvement reflected strong World Cup results, partially offset by unfavorable results in August and September.

The company secured a 10-year omnichannel partnership with Station Casinos in Nevada during the quarter and completed multiple launches in Alberta.

The updated guidance accounts for disruption in Brazil, which represents low-single digit revenue mix exposure for the company. Management indicated Kambi maintains a positive trajectory supported by business model diversification and cost control measures.