Kambi Group plc, a leading technology provider for the esports betting industry, has published its financial and operational results for the second quarter of 2025.
Revenue for the quarter reached €40.5m (£35.1m), reflecting an 11.5% decrease from Q2 last year. However, when excluding transition fees received in Q2 2024, the decline was more modest at 2%.
For the first half of 2025, revenue totaled €81.9m (£70.9m), down 7.9% from the previous year; however, when transition fees are excluded, the actual increase was 2.3%.
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Underlying margins came under some pressure with adjusted EBITA at €3.7m (£3.2m) for the quarter, representing a 9.2% margin compared to 16.4% the previous year.
Operating profit for Q2 was €1.6m (£1.3m), down from €6.2m (£5.3m), and cash flow stood at €1.3m (£1.1m) for the quarter.
Despite facing headwinds, such as foreign exchange shifts and regulatory changes in markets like the Netherlands and Colombia, total expenses declined by 3.8%, reflecting Kambi’s ongoing cost management initiatives.
Partnership Growth and Esports Momentum
Kambi continued to expand its footprint by securing significant commercial agreements during the quarter.
The company signed a two-year extension and a new Odds Feed+ agreement with LeoVegas Group, as well as a new Turnkey Sportsbook partnership with RedCap focused on Latin American markets.
CEO Werner Becher highlighted these achievements, stating: “From a commercial perspective, we were delighted to extend our partnership with LeoVegas Group through a new two-year Turnkey Sportsbook agreement… It is encouraging to see our product portfolio evolving in ways that now enable us to retain partners through our more extensive product offering.”
Operationally, Kambi also reported notable momentum in esports betting. He continued: “Our esports betting product, powered by our Abios division, is also becoming an increasingly important part of our product offering.
Esports via the Turnkey continues to grow in popularity and in Q2 was the fifth largest ‘sport’ across the global network based on turnover.”
The company’s Odds Feed+ product and esports capabilities are increasingly positioned as key differentiators in a competitive market.
Looking ahead, Becher stressed Kambi’s focus on partner value, portfolio expansion, and sustainable growth despite industry challenges. He said: “While the first half of the year played out broadly as expected, I want to reiterate that I am not satisfied with where we are at today, with my ambition for the business being far greater.
“Looking ahead to the rest of the year, the external environment will continue to pose challenges, but I remain optimistic that we can increasingly deliver value for our partners, expand our partner network, strengthen our product portfolio and position the business for long-term, sustainable growth.”
Kambi’s Board also initiated its largest ever share buyback programme, totaling SEK 165 million (£12 million), further underlining confidence in the company’s long-term trajectory.
The company will host a Q2 results presentation for analysts and investors, led by CEO Werner Becher and CFO David Kenyon.
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