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Kambi Group plc Class B (SE:KAMBI)
:KAMBI
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Kambi Group
(OTC:KAMBI)
Rating:55Neutral
Price Target:
kr131.00
▲(3.89% Upside)
Positive Factors
Market Expansion
Now live in Brazil with Stake, BetMGM, Betwarrior, and Rei Do Pitaco, indicating strong market penetration.
Partnerships
New partnership signed with RedCap in LatAm, expanding presence in Panama and El Salvador.
Negative Factors
Market Exits
Headwinds from Kindred market exits are affecting the company's overall performance.
Regulatory Challenges
New regulations have negatively impacted Kambi's performance, contributing to weaker results.
Kambi Group (KAMBI) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
$3.60B
Dividend YieldN/A
Average Volume (3M)63.16K
Price to Earnings (P/E)38.2
Beta (1Y)0.39
Revenue Growth-5.16%
EPS Growth-48.79%
CountrySE
Employees1,043
SectorConsumer Cyclical
Sector Strength82
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.50
Shares Outstanding29,903,620
10 Day Avg. Volume51,155
30 Day Avg. Volume63,165
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue20.07
Enterprise Value/Gross Profit22.30
Enterprise Value/Ebitda65.22
Forecast
1Y Price Target
$155.02Price Target Upside22.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Kambi Group Business Overview & Revenue Model
Company DescriptionKambi Group plc is a leading provider of technology and services for sports betting, headquartered in Sweden. The company operates within the gaming and gambling sector, offering a comprehensive sportsbook solution that includes cutting-edge software, data analysis, and risk management. Kambi's core products and services enable operators to offer a fully managed sports betting experience, encompassing pre-match and live betting options across a variety of sports and events.
How the Company Makes MoneyKambi generates revenue primarily through a business-to-business (B2B) model, partnering with sportsbook operators to provide its technology and services. The company earns money by charging its partners a percentage of the stakes wagered on betting events, known as a revenue share model. Additionally, Kambi can also offer fixed fees for its services depending on the agreements made with its partners. Key revenue streams include the provision of managed services, proprietary technology solutions, and consulting services to enhance operators' betting offerings. Significant partnerships with various sports betting operators around the world bolster Kambi's earnings, as they expand its reach into new markets and increase overall betting activity through its platforms.
Kambi Group Earnings Call Summary
Earnings Call Date:Jul 23, 2025
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Positive
The earnings call highlighted Kambi's solid growth, strategic partnerships, and strong financial position, while acknowledging challenges such as losing key partners and the need for cost efficiency improvements.Q3-2024 Updates
Positive Updates
Solid Underlying Growth and Revenue Increase
Kambi reported a 14% increase in operator turnover and a 16% rise in revenue year-on-year, excluding non-recurring items.
New Partnerships and Product Launches
Kambi signed key deals with Hard Rock Digital and Rei do Pitaco for their new Odds Feed+ product and a long-term contract extension with Rush Street Interactive.
Financial Strength and Share Buyback Program
Kambi announced a EUR 12 million share buyback program and reported a strong cash balance of EUR 60.5 million.
Successful Partner Launches
Kambi completed 9 partner launches, including LiveScore's Virgin Bet in the U.K. and Ireland.
Strategic Development in Emerging Markets
Kambi positioned for growth in the Brazilian market with new partnerships and a market-leading product.
Negative Updates
Kindred and LeoVegas Transition
Kindred and LeoVegas are moving away from Kambi's turnkey sportsbook, indicating potential revenue challenges.
Cost Base Reduction and Efficiency Focus
Kambi is working to reduce its cost base and improve operational efficiency, indicating current inefficiencies.
Marginal Revenue Guidance Adjustment
Kambi adjusted its full-year revenue guidance slightly downward, reflecting potential headwinds.
Company Guidance
During the Kambi Q3 2024 earnings call, the company provided several key metrics and guidance for the financial year. Kambi reported a revenue of EUR 43 million for the quarter, marking a 16% increase year-on-year when excluding last year's non-recurring revenues. The operator turnover rose by 14% to 687 from the previous year's 602. Kambi also saw an increase in their cash balance, ending September with EUR 60.5 million, bolstered by strong cash flow and an operating profit of EUR 3.6 million. The company announced a new EUR 12 million share buyback program, demonstrating confidence in their financial position. Kambi adjusted its revenue guidance for the full year to between EUR 170 million and EUR 180 million, narrowing it down towards the center of the initial range, and also indicated that costs are expected to be at the low end of their guided range, emphasizing operational efficiency. The company remains focused on expanding its addressable market through new product offerings like Odds Feed+, despite facing some near-term headwinds from existing partner transitions.Kambi Group Financial Statement Overview
Summary
Kambi Group's financial performance is mixed. Strong gross profit margins and a solid balance sheet with low leverage are positive. However, declining profitability, negative revenue growth, and cash flow challenges, particularly in free cash flow generation, are concerns.Income Statement
Kambi Group's income statement shows a mixed performance. The TTM gross profit margin is strong at 90%, indicating efficient cost management. However, the net profit margin has declined to 5.07% from 8.75% in the previous year, reflecting reduced profitability. The revenue growth rate is negative at -3.02% TTM, suggesting a contraction in sales. EBIT and EBITDA margins have also decreased, indicating pressure on operational efficiency.65
Positive
Balance Sheet
The balance sheet is relatively strong with a low debt-to-equity ratio of 0.046, indicating conservative leverage. Return on equity has decreased to 4.87% TTM from 8.57% in the previous year, showing reduced efficiency in generating returns for shareholders. The equity ratio remains stable, reflecting a solid capital structure.72
Positive
Cash Flow
Cash flow analysis reveals challenges, with a significant decline in free cash flow growth at -33.59% TTM. The operating cash flow to net income ratio is healthy at 2.03, indicating good cash generation relative to net income. However, the free cash flow to net income ratio has decreased, suggesting less cash available for reinvestment or distribution.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 169.39M | 176.41M | 173.30M | 166.01M | 162.42M | 117.69M |
| Gross Profit | 152.47M | 176.41M | 173.30M | 166.01M | 162.42M | 117.69M |
| EBITDA | 52.14M | 59.47M | 57.51M | 63.51M | 79.21M | 49.13M |
| Net Income | 8.59M | 15.45M | 14.90M | 26.45M | 46.43M | 24.06M |
Balance Sheet | ||||||
| Total Assets | 204.55M | 220.13M | 214.89M | 242.89M | 196.86M | 136.56M |
| Cash, Cash Equivalents and Short-Term Investments | 53.14M | 66.22M | 55.05M | 60.70M | 79.66M | 60.83M |
| Total Debt | 8.00M | 9.49M | 12.99M | 20.68M | 24.77M | 13.21M |
| Total Liabilities | 33.48M | 39.80M | 42.74M | 79.50M | 61.48M | 38.55M |
| Stockholders Equity | 171.07M | 180.32M | 172.15M | 163.39M | 135.38M | 98.02M |
Cash Flow | ||||||
| Free Cash Flow | 18.87M | 24.24M | 18.67M | 20.58M | 47.46M | 19.55M |
| Operating Cash Flow | 47.30M | 53.70M | 49.84M | 49.00M | 72.33M | 38.59M |
| Investing Cash Flow | -29.07M | -29.66M | -42.73M | -64.78M | -39.62M | -19.03M |
| Financing Cash Flow | -17.43M | -13.07M | -17.35M | -1.86M | -14.25M | -3.18M |
Kambi Group Technical Analysis
Negative
126.10
Price Trends
136.70
Negative
127.89
Negative
118.29
Positive
Market Momentum
-2.42
Positive
30.47
Neutral
8.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:KAMBI, the sentiment is Negative. The current price of 126.1 is below the 20-day moving average (MA) of 134.74, below the 50-day MA of 136.70, and above the 200-day MA of 118.29, indicating a neutral trend. The MACD of -2.42 indicates Positive momentum. The RSI at 30.47 is Neutral, neither overbought nor oversold. The STOCH value of 8.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:KAMBI.
Kambi Group Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | kr163.57B | 12.08 | 3.91% | 6.27% | 11.76% | ||
61 Neutral | $17.99B | 12.87 | -3.56% | 2.97% | 1.27% | -14.28% | |
55 Neutral | $3.60B | 38.19 | 4.76% | ― | -5.16% | -48.79% | |
| ― | kr21.92B | 9.97 | 23.10% | 4.65% | ― | ― | |
| ― | $17.85M | ― | -38.74% | ― | ― | ― | |
| ― | $724.15M | 114.28 | 1.42% | 2.27% | ― | ― | |
| ― | €17.93M | ― | -71.93% | ― | ― | ― |
* Consumer Cyclical Sector Average
Performance Comparison
SE:KAMBI
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126.10
6.00
5.00%
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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.