Group posts €2.8m Q3 profit Group posts €2.8m Q3 profit

Gambling,com Group has reported a €2.8m (£2.5m/$3.3m) net profit for its third quarter after a strong performance from its organic traffic services helped to drive revenue up 52.2% year-on-year.

Published 19th November 2020

Revenue for the three months to September 30 amounted to €6.3m, compared to €4.2m in the corresponding period last year.

Gambling,com Group said earned revenue from organic traffic sources – covering search engine optimisation and direct navigation – reached €6.3m in Q3, up 56.0% on the previous year.

However, paid revenue from bought traffic sources fell 75.0% and comprised of legacy payments only, as paid traffic remained paused in Q3 after first being halted in Q1.

Revenue derived from locally regulated markets accounted for 68.0% of total revenue in the quarter.

The affiliate also noted that earnings before interest, tax, depreciation and amortisation (EBITDA) for Q3 rocketed by 604.3% to €3.3m, while EBITDA excluding non-recurring costs jumped 441.0% year-on-year to €3.3m.

Read the full story on iGB.