Q3 2024 Kambi Group PLC Earnings Call Transcript
Key Points
- Kambi Group PLC (KMBIF) reported a 16% rise in revenue, excluding nonrecurring items, showcasing strong underlying growth.
- The company signed a long-term contract extension with Rush Street Interactive, securing important revenue streams.
- Kambi Group PLC (KMBIF) launched a new product portfolio and announced partnerships with Hard Rock Digital and Radio TCO, enhancing its modernization strategy.
- A new EUR12 million share buyback program was announced, indicating confidence in the company's financial health.
- The company completed nine partner launches in the quarter, including significant agreements with Virgin Bet and Puff, expanding its market presence.
- Kambi Group PLC (KMBIF) faces challenges with major operators like Kindred and Leo Vegas moving away from its turnkey sportsbook.
- The company anticipates near-term headwinds due to some larger operators transitioning away from its services.
- Despite revenue growth, the company had to adjust its full-year revenue guidance slightly downward.
- The high trading margin seen in Q3 is not expected to continue, potentially impacting future revenue.
- Operational efficiency improvements are necessary, with a focus on reducing costs and increasing productivity.
Very welcome to Kambi Group PLCs Q3 2024 report presentation. My name is Lander. I'm SVP Investor Relations and sustainability. And today, I'm here with our Chief Executive Officer Werner Becher and our Chief Financial Officer David Kenyon.
We will today hear a presentation from Werner and David. And thereafter, we will have time for questions. You can either call them to me directly, but please remember to press pound key plus five or you can send them directly to the chat. So once again, very welcome to this presentation, we will start with some highlights from Werner.
Thereafter, David, we'll talk about the financial summary and then Werner will come back, talk about some commercial and strategic updates and then we have a summary followed by Q&A.
So what to you Werner?
Thank you, Mia. And Good morning Q3 was another basic quarter for Kambi Group PLC with EUR and Copa America tournaments ending and several important partner signings. We reported a solid underlying
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