Gambling.com Group (NASDAQ:GAMB) reported record-breaking financial results for the fourth quarter and full year 2025, highlighting a fundamental shift in its revenue mix.
The Charlotte-based technology firm posted fourth-quarter revenue of $46.2 million, a 31% increase year-over-year.
This growth was propelled by the company’s sports data services, which surged 440% compared to the prior year to reach $11.8 million, now accounting for 26% of total group turnover.
The quarter marked a strategic milestone for the company: for the first time in its history, revenue generated from non-SEO channels exceeded that of organic search referrals.
This diversification effort helped the marketing services division grow to $34.4 million, up 4% year-over-year.
However, the costs associated with these new traffic sources, alongside headcount increases from recent acquisitions like Odds Holdings and Spotlight.Vegas, pressured margins.
Adjusted EBITDA for the quarter rose a modest 5% to $15.5 million, with the adjusted EBITDA margin contracting to 33% from 42% in the previous year.
On a GAAP basis, the company reported a net loss of $26.9 million for the quarter, compared to a net income of $7.9 million a year ago.