TLDR Gambling.com posted full-year 2025 revenue of $165.4 million, up 30% from $127.1 million in 2024 Q4 adjusted EPS of $0.30 beat the $0.24 analyst forecast by 25% Subscription-based revenue now makes up 26% of total revenue, up from near zero in 2024 Google core updates in late 2025 hurt organic search traffic, putting pressure on the legacy SEO business The company guided 2026 revenue at $170–$180 million with adjusted EBITDA margins dipping to around 30%
Gambling.com reported full-year 2025 revenue of $165.4 million, a 30% jump from $127.1 million in 2024. The company credited its shift toward subscription-based sports data services for the growth.
Q4 2025 revenue came in at $46.2 million, essentially in line with the $46.1 million analyst forecast. Adjusted EPS for the quarter was $0.30, beating the $0.24 consensus by 25%.
Adjusted EBITDA for Q4 came in just below expectations at $15.5 million versus the $15.6 million forecast. Full-year adjusted EBITDA held at roughly a 35% margin.
The company’s legacy SEO business took a hit in the second half of 2025. A series of Google core updates in late 2025 negatively impacted organic search rankings for affiliate sites like Gambling.com.
That search engine volatility was the main reason the company’s year-over-year revenue growth landed at 30% instead of the 35%-plus originally forecast at the start of 2025.
$GAMB reported record fourth quarter and full-year 2025 results.
Key Highlights:
Q4 revenue of $46.2 million, up 31% YoY
Q4 Adjusted EBITDA of $15.5 million, up 5% YoY
FY revenue of $165.4 million, up 30% YoY
FY Adjusted EBITDA of $58 million, up 19% YoY
Q4… pic.twitter.com/ssGQd7KqTD
— Gambling.com Group (@gambling_group) March 12, 2026
Subscription Revenue Changes the Business Model
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