Kambi Revenue Grows 38% in 2021 Despite Q4 Dip

15 february 2022
Author: James Burton
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Kambi, the prominent gambling supplier, has published statistical data that recounts all the earnings from 2021. The general income has increased by 38% compared to 2020 and now stands at 162.4 million EUR, even though the last quarter of 2021 has been underwhelming.

Kambi revenue grows 38% in 2021 despite Q4 dip

Q4 at Kambi: What Happened?

Despite the lack of success during the last 3 months of the year, Kambi has managed to earn good profits in 2021. The last few months were characterised by many sudden changes in plans.

For instance, Kindred, which was previously the company’s parent brand and now is a long-time collaborator, has temporarily stopped its cooperation with the group following some licence rule changes. Some other partners have also moved away from the enterprise.

2021 Development

In the recent financial year, Kambi has set a good pace regarding its growth, promoting its technological solutions in 18 states of the US. The company has supported some of its partners that launched in certain jurisdictions, bringing the number of start-ups it backed up to 60.

Aside from collaborating with US-based companies, Kambi has also expanded in the European territories, such as Belgium and the Netherlands, by bringing its games live in these regions. Another achievement was getting its business running in Australia and the Bahamas with the support of local operators.

The group has made a statement on the eSports market by acquiring Abios, the company that specialises in this field. The purchase happened in a lucrative deal of 26.4 million EUR.

Financial Statistics

The official data confirms that the expenses needed to run the company have risen to 105.4 million EUR in 2021. Out of these, the most money was spent on the staff, with the company investing 50.2 million EUR in the employees' needs. The amortisation spendings were revealed to be 16.0 million EUR while supplying data amounted to 13.5 million EUR. Additional payments went down to 25.7 million EUR.

Regarding the profit, it is known to be 57 million EUR before taxation and 46.4 million EUR after it. In comparison to 2020, the company has managed to gain a 92.5% profit.

Q4 Data

When it comes to the least successful fourth quarter of the year, it gained revenue of 34.9 million EUR, which was less than it was earned in the same period of time in 2020. Towards the end of the third quarter, DraftKings moved to its proprietary platform, which marked the loss of part of the income for Kambi.

The expenses spent on various ventures in the last quarter amounted to 27.8 million EUR, which means there was merely a profit of 6.1 million EUR, a step back compared to 17.3 million EUR the previous year.

Most of the revenue in this period of time was gained from the United States market, especially since there were launch events of the company in certain territories. In particular, the American continent brought 58% of the GGR, while Europe gained 40% and other countries of the world managed to put 2% to their name. There was also a decrease in brand turnover, which fell by 23% in comparison to 2020.

Comments from CEO

The representative of Kambi, Kristian Nylen, gave a few comments, saying that 2021 was a definitive year for the group. He is entirely confident in the future of the company, saying that it has all the assets to succeed in 2022. In particular, he mentioned the business planning new cooperations and presenting itself in various markets over the world.

In his words, everything is going well in the group’s quest to become one of the major suppliers for the betting market. He concluded by saying that he was eagerly anticipating the enterprise’s future successes and sharing them with stakeholders and collaborators.

Recently, Kambi has managed to prolong its deal with Kindred. The agreement was signed with the purpose of continuing to provide betting technologies until 2026.

Another accomplishment by the enterprise at the beginning of 2022 is establishing its authority in more states of the US through close collaboration with local partners.

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