Gambling.com Expects Record January and Strong 2022 Results
Gambling industry affiliate services provider Gambling.com released today its 2021 preliminary results and financial outlook for 2022 while providing an update on January’s performance.
Preliminary 2021 Results
The NASDAQ-traded Gambling.com, which released its first public report in August last year, estimates that its full-year ended December 31, 2021 revenue will be in the range of $42.1 million and $42.5 million, driven mainly by its North American revenue which is expected to post a growth of approximately 90%.
The group expects net income to be in the range of $12.4 million and $13.1 million, coming from adjusted EBITDA between $18.2 million and $18.7 million. Gambling.com estimates its EBITDA margin would be between 43% and 44%.
Based on the available information to date and subject to the completion of closing procedures, the group estimates its free cash flow to be in the range of $7.8 million and $8.5 million. These estimates have not been audited by Gambling.com’s independent public accounting partner, the affiliate services provider outlined, as the final report will be released in mid-March.
January Exceptionally Strong
Referring to 2022, Gambling.com underlined the healthy revenue performance since the start of the year across Europe and in particular North America where New York’s official launch of sports betting was the main driver.
“The year is off to an incredibly strong start. It is great to see our investments at the end of 2021 start to pay off and help drive strong growth, despite a particularly challenging comparable period in the first quarter of 2021 coinciding with Covid-19 related measures.”
Charles Gillespie, CEO, Gambling.com
Due to the exceptionally strong January, the group expects its performance in the month to become the best single-month performance in its entire 15-year history. And that result is not taking into account revenue from the consolidation of the acquired RotoWire.com business.
2022 Full Year Outlook
Looking into the near future, Gambling.com estimates that 2022 revenue will be in the range of $71 million and $76 million, while the business will account for adjusted EBITDA of between $22 million and $27 million.
Delighted with the strength the business showed even before adding revenue from recent acquisitions RotoWire.com in January and BonusFinder in February, Gambling.com group CEO Gillespie outlined the group’s continuous investment and expectation for “another year of strong organic revenue growth.”
“Great acquisitions, the launch of sports betting in states like New York and Louisiana, the expected launch of a regulated market in Ontario, and the debut of our media partnership with McClatchy together give me confidence that 2022 will be another brilliant year for Gambling.com Group,” Gillespie concluded.
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