Kambi Reports Growth in 2022, Continues to Expand Product Reach
Besides an increase in revenue, the company enjoyed solid performance throughout the year and forged important partnerships with leading companies within the gambling vertical
The premium provider of sports betting services to licensed business-to-customer gambling operators, Kambi, released its latest annual financial report, outlining the company’s performance in 2022, highlighting important achievements and outlining plans for the future. Released Thursday, the new report shows that Kambi’s revenue in 2022 hit €166.0 million ($181 million). This result, when compared to the €162.4 million ($177.1 million) in revenue reported for the corresponding period in 2022, marked an increase of 2%.
Despite the slight increase in revenue, Kambi surpassed its pre-pandemic performance. Back in 2019, the company reported total revenue of €92.3 million ($100.7 million) and in 2020, the revenue hit €117.7 million ($128.3 million). In other words, the €166.0 million ($181 million) result from 2022 reaffirms the ongoing growth of the company and the potential of its products.
The latest report reveals that EBIT reported by Kambi in 2022 was €34.8 million ($37.9 million). Last year, the company has seen €53.3 million ($58.1 million) in net cash and €0.861 ($0.94) earnings per share. A breakdown of the gross gaming revenue (GGR) reported per region revealed that Europe was responsible for 43%. On the other hand, the lion’s share of GGR was reported by the Americas region, while the rest of the world (RoW) segment contributed 3% only.
The Company Enjoyed Strategic Achievements and Growth
Besides the financial aspect, Kambi highlighted multiple accomplishments achieved during 2022. Last year, the company unveiled the launch of its first modular service called Bet Builder. The innovative solution launched during a period of continuous growth in the sports betting sector and quickly proved itself as “a key differentiator,” helping power the operations of sportsbooks.
Additionally, Kambi noted that ahead of the 2022 World Cup, it launched its pioneering 3rd Gen trading solution. This is an AI-driven trading solution delivering unique advantages for sportsbooks, as well as exciting experiences for sports fans.
“Kambi’s success in 2022 was testament to the growth of our current partners as well as the great appetite that continues to exist for the complete Kambi sportsbook.“
Kristian Nylen, CEO at Kambi
Kristian Nylen, Kambi’s CEO, explained that 2022 brought success for the company, reaffirmed the potential and the strong demand for its products. He explained that throughout last year, Kambi strengthened its products and at the same time forged nine new partnerships. Nylen acknowledged the positive impact of the World Cup and stressed that the scalability and flexibility of the company’s solutions continue to help it grow. Finally, the CEO pointed out that Kambi entered 2023 with the same positive momentum gained in 2022 and predicted achieving of long-term goals.
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
