Kambi revenue was down in the second quarter

Kambi revenue was down in the second quarter

In the second quarter of 2022, the Kambi Group reported revenue of 34.7m, a decline of 19% from the second quarter of the previous year.

Earnings per share for the second quarter were 0.109, while cash flow for the period was 8.6 million.

There were many highlights for Q2 2022, including an online agreement with Mohegan Gaming & Entertainment and its Fallsview Casino brand in Ontario, Canada, an extended deal with Greenwood Gaming and Entertainment, and going live on day one in Canada and launches in the United States and Mexico among others.

When adjusting for the migration of DraftKings, Kambi delivered another positive quarter, with underlying growth remaining healthy and operator turnover up 16%.

Despite a quieter than usual sporting calendar, this performance was achieved despite the soccer World Cup taking place later in the year, outside its usual Q2 starting slot. We announced an extension to our contract with US multi-state operator BetParx while making significant strategic progress, as well as signing a partnership with Mohegan Gaming & Entertainment, which was launched in Canada and Mexico.

There is an exciting time for Kambi. We are on a strong footing for the future because of our healthy balance sheet and positive underlying financial performance.

With more product launches, partner signings and a World Cup to come, I am looking forward to an even greater second half of the year.

Summary:

Kambi Group has reported revenue of 34.7 million for the second quarter of 2022, a 19% decline from the second quarter of 2021. EBITDA declined by 47% year-on-year to 11.6 million, while operating profit declined by 70% to 4.9 million, at a margin of 14.1%. Earnings per share for the second quarter of 2022 were 0.109, while cash flow for the period amounted to 0.1m.