Gambling.com has reported its preliminary first quarter results for 2023, noting that revenue is expected to lie between $26.4m (£21.3m/€26.0m) and $26.9m for the period.
The results are for the three-month period ending March 31, with Gambling.com’s full first quarter results for 2023 expected to be released on May 18 .
Charles Gillespie, CEO and co-founder of Gambling.com, said that the preliminary results exceeded Gambling.com’s predictions, in part due to an increase in activity in certain markets.
“Our preliminary 2023 first quarter results exceeded internal forecasts,” said Gillespie. “These results reflect strong organic growth driven by the robust ramp up of our North American operations and ongoing momentum in our established markets.”
“With the strong start to 2023, we remain confident that Gambling.com is on track for another year of record revenue, adjusted EBITDA and free cash flow.”
Preliminary Q1 results
Gambling.com’s net income is expected to lie between $6.3m and $6.8m for the quarter.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be in the range of $10.3m and $10.8m, which would represent an EBITDA margin of 39%-40%. Free cash flow is expected to be between $5.9m to $6.4m.
Gambling.com’s operations for the fourth quarter of 2022 saw revenue jump by 80.7% to $76.5m.