Kambi Group plc has disclosed its financial and operational performance for the second quarter of 2025, highlighting ongoing growth in esports betting despite difficulties in the broader market.
A leading provider of technology within the esports betting sector, Kambi reported revenue of $47.5 million (€40.5 million) for Q2, representing an 11.5% decrease compared to the previous year. However, when removing one-time transition fees from the second quarter of 2024, the adjusted revenue drop was only two percent.
In the first half of 2025, total revenue reached $96.2 million (€81.9 million), marking a 7.9% decrease from the same timeframe last year. When adjusting for transition fees, revenue actually increased by 2.3%.
While there was slight adjusted revenue growth, the company faced some pressure on profitability metrics. Adjusted EBITA for the quarter was $4.3 million (€3.7 million), resulting in a margin of 9.2%, down from 16.4% in the previous year. Operating profit fell to $1.8 million (€1.6 million) compared to $7.2 million (€6.2 million) in Q2 2024. Cash flow during the quarter was $1.5 million (€1.3 million).
Nonetheless, the company successfully reduced total expenses by 3.8%, demonstrating progress in cost control initiatives despite challenges related to regulations and currency fluctuations in crucial markets such as the Netherlands and Colombia.
Kambi Expands Esports Offerings and Establishes New Partnerships
Despite facing macroeconomic challenges, Kambi achieved significant commercial successes in Q2. The company renewed its partnership with LeoVegas Group through a two-year Turnkey Sportsbook agreement and launched a new Odds Feed+ deal. Additionally, Kambi secured a new Turnkey Sportsbook collaboration with RedCap, targeting the Latin American market.
«It is promising to see our product range evolving, which allows us to retain partners with a more comprehensive product offer,» stated Kambi CEO Werner Becher.
Kambi’s esports segment, driven by its Abios division, has experienced considerable growth. «Esports through the Turnkey product remains increasingly popular and was the fifth-largest ‘sport’ in our global network for turnover in Q2,» Becher noted.
The Odds Feed+ product from Kambi, along with its enhancing esports capabilities, continues to provide a competitive edge in a crowded sportsbook technology market.
Becher recognized the prevailing challenges in the market but expressed a long-term commitment to growth. «As we look towards the remainder of the year, external conditions may continue to be tough, but I am optimistic that we can enhance value for our partners, grow our network of partners, fortify our product offerings, and position the company for sustainable long-term growth,» he said.
Kambi is set to hold a presentation regarding its Q2 results for analysts and investors, led by CEO Werner Becher and CFO David Kenyon, which will provide further details on the company’s performance and future outlook.
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