Kambi Group reported a sharp increase in operating profit to €5.1 million ($5.76 million) in the third quarter of 2026, up from €1.6 million in 2025, while revenue rose 23% year over year to €46 million ($51.98 million).
The sports betting technology provider also recorded a 161% increase in adjusted EBITA to €7.9 million ($8.93 million), with its adjusted margin rising to 17.3% from 8.2%.
Following the results, Kambi revised its full-year adjusted EBITA guidance to approximately €26 million ($29.38 million), from its previous range of €23 million ($25.99 million) to €27 million ($30.51 million), despite Brazil’s decision to ban online gambling.
The company said Brazil accounted for a low single-digit percentage of its 2026 revenue, limiting its immediate exposure, although the regulatory development could eliminate longer-term growth opportunities in the market.
Kambi’s third-quarter operator trading margin reached 11.9%, its second-highest quarterly level, supported by betting activity during the latter stages of the FIFA World Cup, including what the company described as a record-breaking final. Less favorable sporting results followed in August and September.
Meanwhile, approximately 85% of bets across Kambi’s network are now traded through its proprietary AI system. The technology is being expanded into basketball, American football and table tennis, alongside existing coverage of soccer, tennis, ice hockey and baseball. Kambi said 59% of AI-traded live bets are now accepted without a live delay, potentially enabling millions of additional bets annually.
Commercially, Kambi secured a 10-year omnichannel sportsbook and player account management agreement with Station Casinos in Nevada, with initial deployment expected through a regulatory field test ahead of a statewide rollout.
Additional agreements included Turnkey Sportsbook partnerships with Pure Casino Entertainment and QuinnBet and an Odds Feed+ agreement with RETABET. Kambi also supported multiple operator launches in Alberta’s newly regulated online market.
The company completed the integration of Abios, Shape Games and Tzeract under the Kambi brand as part of an internal restructuring.
Financially, quarterly gross profit increased 16% to €37.2 million ($42.04 million), while operating expenses remained relatively stable at €29.2 million ($33 million). Quarterly earnings per share rose to €0.128 ($0.145).
For January through September, revenue increased 13.5% to €135.4 million ($153 million), while adjusted EBITA more than doubled to €21.2 million ($23.96 million). Operating profit reached €15.2 million ($17.18 million), compared with €4 million ($4.52 million) a year earlier.
CEO Werner Becher attributed the performance to the company’s diversified operations, cost discipline and favorable foreign exchange movements, alongside continued expansion of its partner network.
“Kambi continued its positive trajectory in Q3, driven by a robust financial performance, new partner wins and further strategic progress,” Becher said. “Supported by our powerful network, proven technology and a clear strategic focus, I believe the business is well positioned to deliver sustainable long-term value for both partners and shareholders alike.”