Q1 2026 Kambi Group PLC Earnings Call Transcript
Key Points
- Kambi Group PLC (FRA:7KB) reported a strong start to the year with a 5% increase in revenue and a 64% rise in EBITDA for Q1.
- The company secured a significant contract for the Canadian National Sports Betting Solution, expanding its presence to seven additional provinces.
- Kambi Group PLC continues to expand its Odds Feed Plus product, signing new agreements with ComeOn and Hard Rock in the United States.
- The company maintained strong cost discipline, with operating expenses decreasing from EUR32.6 million to EUR31.9 million year-on-year.
- Kambi Group PLC's AI trading system is pricing and trading more than 60% of bets fully automated, enhancing product quality and operational efficiency.
- The company experienced a slight decrease in turnover index due to the seasonality of the sporting calendar and the impact of Kindred's market exits.
- A new gaming tax in Colombia resulted in an approximate EUR4 million impact, affecting the company's financial outlook.
- Kambi Group PLC faced a rare technical fault causing downtime, which could potentially impact service agreements with customers.
- The company had to set aside EUR9.4 million in a standby letter of credit for a new customer, impacting cash flow.
- Delays in customer migrations, particularly with Kindred, have created uncertainty in the company's financial projections.
Q1 earning call. At this time, all participants are in the listen-only mode.
After the speaker presentations, there will be time for questions and answers.
(Event Instructions)
So, the agenda for today-- we will start with some highlights from Werner, which will be followed by the financial summary by David Kenyon, and then Werner will come back with some operational updates. Following this, there will be time for the Q&A. With that, I would like to hand over the conference to you, Werner. Please go ahead.
Thanks, Mattias, and good morning. Our progress in Q1 represents a strong start to the year with an improved financial performance and continued commercial momentum. The quarter source returned to growth, with revenue up 5% and EBITDA up 64%, which David will walk through in a more detail shortly.
Hopefully, you've already seen this morning we were announced as the winning bidder
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