Kambi Q2 2025 Financial Results: Revenue Down 11.5%
Kambi has released its Q2 2025 financial report, showing a revenue drop of 11.5% to €40.5 million. However, excluding one-off transitional fees, the decline was just 2%.
Q2 2025 Financial Highlights
Despite the overall decrease, the company demonstrated resilience across several key metrics. Here are the main figures:
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Revenue (Q2) | €40.5 million | -11.5% |
| Adjusted EBITDA | €3.7 million | Margin: 9.2% |
| Operating Profit | €1.6 million | Margin: 4% |
| Net Profit | €0.2 million | -95% |
| Operating Cash Flow | €9.6 million | vs €19.5 million in 2024 |
| Net Cash Outflow | €2 million | – |
| Expenses (Q2) | €38.1 million | -3.8% |
| GGR Margin | 88.3% | vs 90.7% in 2024 |
| FX Revaluation Loss (H1) | €1.2 million | – |
| Earnings per Share | €0.009 | – |
| Third-Party Data Costs | €4.7 million | +11% |
H1 2025 Results
For the first half of 2025, Kambi reported revenue of €81.9 million, down 7.9%. Excluding transitional payments, however, the company posted a 2.3% increase.
Business Activity & Strategic Developments
Partnerships and Licensing
- LeoVegas: Strategic partnership expanded
- Licensing: Approvals secured in Brazil, Nevada (U.S.), Panama, and El Salvador via partner RedCap
Share Buyback Program
Shareholders approved Kambi’s largest-ever buyback program worth €15 million, aimed at boosting investor confidence and supporting the company’s market value.
Focus on eSports and Bet Builder
Kambi continues to enhance its product offerings. Thanks to the growing popularity of eSports betting and the Bet Builder tool, operator margins reached 11.5%.
Market Reaction
Following the report’s release, Kambi’s stock dropped by 6.14% as investors responded to lower net profits and declining cash flow.
Conclusion
Despite short-term financial setbacks, Kambi is positioning itself for long-term growth through new licenses, strategic partnerships, and share repurchases.
Continued focus on product innovation and operational efficiency offers hope for improved performance in future quarters.