Gambling.com Group a fast-growing technology company providing marketing and sports data services for the gambling industry, today reported financial results for the first quarter ended March 31, 2026. 

Revenue of $40.4 million was in line with the prior-year period. Revenue from sports data services grew 13% year-over-year to $11.2 million, primarily driven by growth in enterprise revenue. Revenue from marketing services decreased 5% year-over-year to $29.2 million, primarily due to the previously disclosed impacts of poor organic search dynamics and regulatory headwinds in the UK and Finland, partly offset by growth from sources not dependent on organic search referrals.

The company delivered 140,000 new depositing customers in the three months ended March 31, 2026, as compared to 138,000 in the three months ended March 31, 2025.

Gross profit decreased 11% year-over-year to $34.4 million. Cost of sales increased 171% year-over-year to $6.1 million primarily reflecting costs associated with the Company’s ongoing strategy to diversify traffic sources in the marketing business.

Total operating expenses exclusive of non-cash amortization of acquired intangible assets of $2.6 million, employees’ bonuses related to the OddsJam acquisition of $0.3 million and other non-recurring costs of $0.1 million, grew 12% to $28.2 million, primarily due to higher subscription cost from increased AI usage and higher external marketing expenses as a result of traffic diversification strategies. Inclusive of the above-mentioned expenses, total operating expenses were $31.1 million compared to $28.4 million in the year-ago period.

Kevin McCrystle, Incoming Chief Executive Officer and Co-Founder of Gambling.com Group, commented, “First quarter revenue of $40.4 million was in line with our expectations as well as the prior-year period, and reflects a 13% year-over-year increase in sports data services revenue offset by a 5% decline in marketing revenue. The growth in sports data services revenue was driven by strong enterprise sales led by OpticOdds with active partners up 24% quarter-on-quarter. While our marketing operations continue to be impacted by previously disclosed poor organic search dynamics and more recent regulatory headwinds, we continue to deliver on our strategy to diversify traffic sources.

“We continue to integrate AI into our workflows and are moving quickly to adopt AI as the foundational layer of how the entire organization operates. This shift to AI-first working principles enables a proposed restructure of teams that is expected to drive substantial annualized cost savings.

We are confident this transformation positions us to adapt faster to changing market needs by delivering more product and marketing innovation at a faster velocity with smaller, more flexible teams. These initiatives, and the continued transition in our business to benefit from a higher mix of high-margin sports data services contributions and our more diversified marketing business, will help ensure we can build on our foundation to return to delivering consistent high margin growth going forward.”