Gambling.com, a provider of affiliate services to the gaming industry, announced its preliminary results for 2021 and financial outlook for 2022 today, as well as an update on January’s performance. Gambling.com, whose stock is quoted on the NASDAQ, forecasts that its full-year revenue for the fiscal year ending December 31, 2021, would be between $42.1 million and $42.5 million, driven mainly through North American revenue, which is expected to expand by roughly 90%.

Bright Forecast for 2022

Net income is expected to be between $12.4 million and $13.1 million, on adjusted EBITDA of $18.2 million and $18.7 million. Gambling.com anticipates an EBITDA margin of between 43% and 44%. The group forecasts its free cash flow to be between $7.8 million and $8.5 million based on information available to date and subject to the completion of closing procedures. The affiliate services provider noted that Gambling.com’s independent public accounting partner had not audited these projections since the final report will be provided in mid-March.

Regarding 2022, Charles Gillespie, CEO of Gambling.com, claimed that Gambling.com has maintained a good revenue performance across Europe and, in particular, North America, where New York’s formal launch of sports betting was the primary driver. The year is off to a fantastic start. It’s encouraging to see our investments begin to pay off and contribute to solid growth by the end of 2021, despite a comparable challenging period in the first quarter of 2021 due to Covid-19-related measures.

Due to an amazing January, the group anticipates that its performance in the month will be the best in its 15-year history. And that outcome excludes revenue from the consolidated RotoWire.com company. Gambling.com expects revenue between $71 million and $76 million in 2022, with adjusted EBITDA of between $22 million and $27 million.

Key Corporate Insights 

Delighted with the business’s performance before the addition of revenue from recent acquisitions RotoWire.com in January and BonusFinder in February, Gambling.com group CEO Gillespie discussed the firm’s ongoing investment and anticipation for “another year of great organic revenue growth.”

“Excellent acquisitions, the launch of sports betting in states such as New York and Louisiana, the anticipated launch of a regulated market in Ontario, and the launch of our media partnership with McClatchy all contribute to my confidence that 2022 will be another fantastic year for Gambling.com Group,” Gillespie concluded.