Q2 2024 Gambling.com Group Ltd Earnings Call Transcript
Key Points
- Gambling.com Group Ltd (GAMB) reported a record Q2 revenue of $30.5 million, marking an 18% year-over-year increase.
- Adjusted EBITDA grew by 19% to $11.2 million, demonstrating strong financial performance.
- The company raised its full-year revenue guidance, reflecting confidence in continued growth.
- GAMB successfully navigated changes in Google's policy, minimizing the impact on its media partnerships.
- The company repurchased over 6% of its outstanding shares, indicating strong confidence in its business prospects.
- Revenue in North America was down 8% year-over-year when factoring in the previous year's strong performance.
- Cost of sales increased by 60% year-over-year, impacting gross profit margins.
- The company's media partnership revenues were higher than anticipated, leading to increased cost of sales.
- There is uncertainty regarding the long-term impact of Google's policy changes on media partnerships.
- The company faces challenges in North America due to the slower pace of new state legalizations for online gambling.
Hello, everyone, and welcome to Gambling.com Group's Secīond quarter 2024 results call. I am Peter McGough, Senior VP of Investor Relations and Capital Markets. I'm joined by Charles Gillespie, Gambling.com Group's Co-Founder and Chief Executive Officer; and Elias Mark, Chief Financial Officer.
This call is being webcast live through the Investor Relations section of our website at gambling.com/corporate/investors and a downloadable version of the presentation is available there as well. A webcast replay will be available on the website after the conclusion of this call. You may also contact Investor Relations support by emailing [email protected]
I would like to remind you that the information contained in this conference call, including any financial and related guidance to be provided, consists of forward-looking statements as defined by securities laws. These statements are based on information currently available to us and involve risks and uncertainties that could cause actual future
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