Kambi Group Plc (Kambi), the Stockholm Nasdaq-listed online betting platform provider has released their unaudited Q3 2016 report (period ending September 30) showing a strong increase in revenue.
As the company welcomes new partners in the last quarter they report records in this Q3 of a 15% revenue gain to €14.8 million (Q3 2015:€12.8 million) bringing up their year to date corporate revenue to €41 million. (YTD 2015:€33 million)
The Kambi governance was thrilled to report their strong performance across all top-line metrics for both quarter and YTD performance in 2016.
The operating profit (EBIT) in this third quarter was €3.1 million (Q3 2015: €2.5 million), with a margin of 21%, €7 million for the YTD January to September 2016 (YTD 2015: €4 million) with an operating margin of 17% (2015: 12%)
Kambi announced their major supply partnership with Novomatic Lottery Solutions in Q3 where the company became their lead sports betting platform provider.
Earnings per share for the third quarter of 2016 were €0.092 and €0.211 for the year up to September.
Kristian Nylén, CEO of Kambi updated investors commenting on Kambi Q3 and YTD performance:
“I am really pleased to deliver an excellent set of results for Q3. Our unparalleled service drove a 37% growth in operator turnover, which led to strong results for Kambi of 25% growth in operating profit.”
“I am highly encouraged by the partnership we have signed with the prestigious gaming company NOVOMATIC Lottery Solutions, where we are joining forces to create a state-of-the-art omnichannel solution for government regulated lotteries, which is a key target segment for Kambi. This partnership strengthens our outreach to potential clients in the lottery sector.”
“Part of our growth strategy is to build on our retail offering. We have seen tangible results as our retail service is being rolled out in several regions and is gaining momentum.”