The following is a summary of the Gambling.com Group Limited (GAMB) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Gambling.com reported a record Q4 revenue of $32.5 million, up 52% from the prior year, and full-year revenue rising by 42% year-on-year.

• North American revenue grew by 103% to $20.3 million.

• The company increased its full year adjusted EBITDA by 53% and generated 71% more free cash flow than in 2022.

• Net income in Q4 was $6.8 million, or $0.18 per diluted share, compared to adjusted net income of $600,000, or $0.02 per diluted share in the prior year.

• 2023 full-year revenue grew 42% to $108.7 million with adjusted net income being $26.3 million and free cash flow of $16.2 million.

Business Progress:

• The company plans to continue its growth trajectory in 2024 by investing in the business, expanding its North American market, and adding online sports betting capabilities in North Carolina.

• In Europe, revenues from the UK and Ireland were down modestly in Q4 compared to 2023, but they increased by 11% for the year.

• Gambling.com signed a definitive agreement to acquire Freebets.com and its related European casino assets, which it expects to help drive additional growth in the UK, Ireland, and the rest of Europe.

• The company plans to continue allocating capital to new growth opportunities in newly regulated and already regulated markets where the returns are attractive.

• For 2024, the company projects revenue ranging from $129 million to $133 million, with adjusted EBITDA estimates between $44 million to $48 million.

• The company's fantasy offerings, particularly those related to RotoWire, are growing healthily but are not a significant driver of revenue.

• Gambling.com is cautious about entering the newly regulated Brazil market immediately, unlike some of its peers. However, it has an organic strategy for this market which it will pursue more aggressively as the market develops.

More details: Gambling.com IR

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