Kambi Group plc has released its financial and operational results for the second quarter of 2025, underlining continued growth in esports betting amid broader market headwinds.
A prominent technology provider in the esports betting sector, Kambi reported second-quarter revenue of $47.5 million (€40.5 million), an 11.5% decline compared to the same period last year. However, excluding one-time transition fees received in Q2 2024, the underlying revenue dip was a more modest two percent.
For the first half of 2025, revenue totaled $96.2 million (€81.9 million), marking a 7.9 percent decrease compared to the same period last year. Adjusted for transition fees, revenue actually rose by 2.3 percent.
Despite this modest adjusted growth, profitability metrics showed some strain. Adjusted EBITA came in at $4.3 million (€3.7 million) for the quarter, translating to a 9.2 percent margin, down from 16.4 percent a year earlier. Operating profit dropped to $1.8 million (€1.6 million) from $7.2 million (€6.2 million) in Q2 2024. Cash flow for the quarter was $1.5 million (€1.3 million).
Still, the company trimmed total expenses by 3.8 percent, reflecting progress on cost control initiatives, especially amid regulatory and currency-related challenges in key markets like the Netherlands and Colombia.
Kambi expands esports offering, secures new partnerships
Despite the macroeconomic headwinds, Kambi made notable commercial gains in Q2. The company extended its partnership with LeoVegas Group via a two-year Turnkey Sportsbook agreement and signed a new Odds Feed+ deal. A new Turnkey Sportsbook partnership was also secured with RedCap, focused on Latin America.
“It is encouraging to see our product portfolio evolving in ways that now enable us to retain partners through our more extensive product offering,” Kambi CEO Werner Becher said.
The company’s esports offering, powered by its Abios division, has seen substantial traction. “Esports via the Turnkey continues to grow in popularity and in Q2 was the fifth largest ‘sport’ across the global network based on turnover,” Bercher said.
Kambi’s Odds Feed+ product, along with its evolving esports capabilities, continues to serve as a strategic differentiator in a crowded and competitive sportsbook technology landscape.
Becher acknowledged the challenges of the current environment while maintaining a long-term vision for growth. “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,” he said.
Kambi will host a Q2 results presentation for analysts and investors, led by CEO Werner Becher and CFO David Kenyon, offering deeper insights into the quarter’s performance and outlook.
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