Gambling.com Group Limited reported record financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, revenue reached $35.3 million, a 9% increase year-over-year, and adjusted EBITDA was a record $14.7 million, up 39% year-over-year. The adjusted EBITDA margin for the quarter was 42%, an increase from 32% in the prior year.
For the full year 2024, the company achieved record revenue of $127.2 million, up 17% year-over-year, and record adjusted EBITDA of $48.7 million, a 33% increase from 2023. Full-year adjusted EBITDA margin was 38%, up from 34% in 2023. Free cash flow for 2024 was $41.6 million, representing an 85% conversion of adjusted EBITDA.
The company reiterated its 2025 guidance, projecting revenue between $170 million and $174 million, with the midpoint representing 35% year-over-year growth. Adjusted EBITDA is guided to be between $67 million and $69 million, with the midpoint reflecting 40% year-over-year growth and an implied adjusted EBITDA margin of 39.5%. The Odds Holdings acquisition is expected to contribute approximately $14.5 million in incremental adjusted EBITDA for 2025, with subscription revenues projected to account for over 20% of total group revenue.
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