Gambling.Com Group Ltd (GAMB)
NASDAQ:GAMB
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Gambling.com
(NASDAQ:GAMB)
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Rating:46Neutral
Price Target:
$2.50
▼(-32.07% Downside)
Action:Reiterated
Date:05/16/26
The score is held down primarily by weakening financial performance (profitability reversal, higher leverage, and sharply lower TTM free cash flow) and bearish technicals (price far below key moving averages with weak momentum). This is partially offset by a more constructive earnings outlook and cost-saving restructuring plan aimed at improving H2 2026 results and cash generation.
Positive Factors
Sports data (OpticOdds) expansion
Rapid growth in OpticOdds establishes a higher-margin, product-led revenue stream less tied to consumer search behavior. Increasing API customers and international partners creates sticky contractual revenue, supports cross-selling, and structurally shifts the mix toward recurring commercial relationships.
Negative Factors
Elevated leverage
Leverage near parity with equity constrains financial flexibility and raises interest and covenant risk during cyclical or execution setbacks. With weaker profitability and reduced free cash flow, elevated debt increases the priority of deleveraging and limits capital available for growth or M&A over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Sports data (OpticOdds) expansion
Rapid growth in OpticOdds establishes a higher-margin, product-led revenue stream less tied to consumer search behavior. Increasing API customers and international partners creates sticky contractual revenue, supports cross-selling, and structurally shifts the mix toward recurring commercial relationships.
Read all positive factors
Gambling.com (GAMB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$85.99M
Dividend YieldN/A
Average Volume (3M)1.15M
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth19.23%
EPS Growth-232.12%
CountryUS
Employees555
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-1.29
Shares Outstanding35,097,190
10 Day Avg. Volume1,585,635
30 Day Avg. Volume1,146,732
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.79
Price to Sales (P/S)1.17
P/FCF Ratio17.97
Enterprise Value/Market Cap2.28
Enterprise Value/Revenue1.19
Enterprise Value/Gross Profit1.38
Enterprise Value/Ebitda-9.73
Forecast
1Y Price Target
$5.36Price Target Upside45.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.44
Revenue Forecast (FY)$168.48M
Gambling.com Business Overview & Revenue Model
Company Description
Gambling.com Group Limited operates as a performance marketing company for the online gambling industry worldwide. The company provides digital marketing services for the iGaming and sports betting. It publishes various branded websites, including...
How the Company Makes Money
Gambling.com primarily makes money by acquiring online gambling-intent traffic to its owned media properties and monetizing that traffic through commercial agreements with online gambling operators (sportsbooks and online casinos). The core revenu...
Gambling.com Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: strong execution and accelerating product-led growth in sports data (OpticOdds), meaningful progress diversifying away from SEO, planned cost savings via a 25% workforce restructuring, and a constructive FY2026 guidance with expected H2 acceleration. Offsetting these positives are material near-term profitability and margin compression, declines in marketing revenue driven by SEO and regulatory headwinds (notably UK&I), lower free cash flow versus prior year, and elevated leverage and one-time cash obligations. Management is focused on H2 recovery and deleveraging, but execution risk exists as the company transitions to an AI-first operating model and scales non-SEO channels.Positive Updates
Stable Top-Line and Clear H2 Outlook
Q1 revenue of $40.4M was flat year-over-year and in line with expectations; company reiterated FY2026 revenue guidance of $165M–$170M and adjusted EBITDA guidance of $45M–$50M, expecting revenue, adjusted EBITDA and free cash flow to expand in the second half of 2026.
Negative Updates
Marketing Revenue Decline and SEO Headwinds
Marketing revenue declined 5% YoY to $29.2M in Q1, driven by persistent poor search rankings and regulatory headwinds (U.K. & Finland). UK&I revenue was cited as down ~30%, with lower LTVs and softer traffic.
Read all updates
Q1-2026 Updates
Positive
Negative
Stable Top-Line and Clear H2 Outlook
Q1 revenue of $40.4M was flat year-over-year and in line with expectations; company reiterated FY2026 revenue guidance of $165M–$170M and adjusted EBITDA guidance of $45M–$50M, expecting revenue, adjusted EBITDA and free cash flow to expand in the second half of 2026.
Read all positive updates
Company Guidance
The company updated full‑year 2026 guidance to revenue of $165–170 million and adjusted EBITDA of $45–50 million (implying an adjusted EBITDA margin at the midpoint of roughly 28%), and said it expects revenue, adjusted EBITDA and free cash flow to expand materially in the second half of the year; management is pursuing a strategic restructuring (≈25% headcount reduction) that will generate ~$13 million of annualized cost savings (net of higher AI usage) with about half (~$6.5M) realized in H2 2026 and the remainder in 2027, incurring one‑time implementation costs of roughly $2.5 million, and noted the guidance change versus prior outlook reflects a ~$5M reduction in revenue, a ~$5M increase in cost of sales (mix shift), offset by ~$5M lower adjusted operating expenses (including ~$6.5M of restructuring savings partly offset by ~$1.5M higher marketing).Gambling.com Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
45
Neutral
Cash Flow
51
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 165.25M | 165.45M | 127.18M | 108.65M | 76.51M | 42.32M |
| Gross Profit | 142.33M | 135.77M | 119.65M | 99.54M | 73.55M | 42.32M |
| EBITDA | -20.14M | 46.26M | 42.75M | 23.13M | 10.83M | 15.23M |
| Net Income | -45.34M | -32.93M | 30.68M | 18.26M | 2.39M | 12.45M |
Balance Sheet | ||||||
| Total Assets | 290.65M | 299.67M | 178.58M | 154.87M | 138.88M | 91.03M |
| Cash, Cash Equivalents and Short-Term Investments | 8.41M | 15.81M | 13.73M | 25.43M | 29.66M | 51.17M |
| Total Debt | 120.91M | 113.41M | 27.96M | 1.72M | 2.07M | 7.62M |
| Total Liabilities | 183.51M | 191.72M | 55.40M | 35.95M | 51.77M | 11.12M |
| Stockholders Equity | 107.15M | 107.95M | 123.19M | 118.92M | 87.11M | 79.91M |
Cash Flow | ||||||
| Free Cash Flow | 2.59M | 10.78M | 3.81M | 8.67M | 9.47M | 8.42M |
| Operating Cash Flow | 4.18M | 11.64M | 37.64M | 17.91M | 18.75M | 14.00M |
| Investing Cash Flow | -32.85M | -99.03M | -43.84M | -19.47M | -32.70M | -5.57M |
| Financing Cash Flow | 16.33M | 89.03M | -5.24M | -3.14M | -7.31M | 34.99M |
Gambling.com Technical Analysis
Negative
3.68
Price Trends
3.59
Negative
4.07
Negative
5.56
Negative
Market Momentum
-0.42
Positive
26.87
Positive
32.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GAMB, the sentiment is Negative. The current price of 3.68 is above the 20-day moving average (MA) of 3.30, above the 50-day MA of 3.59, and below the 200-day MA of 5.56, indicating a bearish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 26.87 is Positive, neither overbought nor oversold. The STOCH value of 32.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GAMB.
Gambling.com Risk Analysis
Gambling.com disclosed 54 risk factors in its most recent earnings report. Gambling.com reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Changes within the technology platforms of the operators we work with, as well as with our media partners, could alter the ability of our advertising technology to more accurately target and service NDCs which could adversely affect our business, financial condition, and results of operations. Q4, 2023
Gambling.com Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.14B | 69.87 | 26.36% | ― | 28.20% | 310.24% | |
70 Outperform | $426.22M | 221.19 | 7.85% | ― | 6.33% | -150.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $203.27M | -12.96 | 147.77% | ― | 1.31% | -123.26% | |
46 Neutral | $85.99M | -1.85 | -37.13% | ― | 19.23% | -232.12% | |
42 Neutral | $684.79M | -1.01 | -115.26% | ― | 16.60% | -75.69% |
* Consumer Cyclical Sector Average
GAMB
Gambling.com
2.38
-9.28
-79.59%
INSE
Inspired Entertainment
7.70
-0.06
-0.77%
RSI
Rush Street Interactive
25.34
12.79
101.91%
CDRO
Codere Online
9.38
2.13
29.38%
BALY
Bally's Corporation
14.18
4.41
45.14%
Gambling.com Corporate Events
Gambling.com Group Unveils AI-Led Restructuring After Flat Q1 Revenue and Profit Drop
May 14, 2026
On May 14, 2026, Gambling.com Group reported first-quarter 2026 revenue of $40.4 million, flat year on year, with a 13% rise in sports data services offset by a 5% decline in marketing revenue, and swung from net income of $11.2 million to a net l...
Gambling.com Group Swings to Q1 2026 Net Loss Despite Flat Revenue
May 14, 2026
Gambling.com Group Limited, a digital marketing and affiliate services provider to the online gambling and sports betting sector, reported unaudited interim results for the three months ended March 31, 2026, showing essentially flat revenue but we...
Gambling.com Group Files 6-K Announcing 2026 Annual General Meeting and Updates U.S. Registrations
Apr 21, 2026
On April 21, 2026, Gambling.com Group Limited announced its 2026 annual general meeting of shareholders and made related meeting materials available to investors. The documentation includes the formal meeting notice and proxy cards for registered ...
Gambling.com Group Files Form 6-K to Furnish 2025 Annual Report
Apr 21, 2026
Gambling.com Group Limited, a foreign private issuer in the online gambling affiliate and performance marketing sector, files its annual disclosures with the U.S. Securities and Exchange Commission under Form 20-F. The company operates from Jersey...
Gambling.com Group Taps Co-Founder Kevin McCrystle as New CEO in Founder-Led Leadership Shift
Mar 26, 2026
Gambling.com Group Limited, a Nasdaq-listed provider of marketing technologies, premier gambling-focused websites and sports data platforms, serves casinos, sports betting operators, prediction markets, market makers, media firms and consumers glo...
Gambling.com Group Posts Record 2025 Results as Sports Data Unit Surges
Mar 12, 2026
On March 12, 2026, Gambling.com Group reported record fourth-quarter and full-year 2025 results, with Q4 revenue up 31% year over year to $46.2 million and Adjusted EBITDA up 5% to $15.5 million, even as the quarter swung to a GAAP net loss of $26...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.