Kambi Group reports strong Q2 2026 growth and raises full-year outlook

Kambi Group delivered a solid financial performance during the second quarter of 2026 as the sportsbook technology provider reported higher revenue, stronger profitability and improved operational efficiency. The company also raised its earnings outlook for the full year following continued commercial expansion and positive momentum across its global partner network.

The quarter was supported by strong sportsbook activity during the FIFA World Cup, new strategic agreements in Canada and continued investment in artificial intelligence that helped strengthen the company's sportsbook offering. Together these developments reinforced Kambi Group's position as one of the leading providers of premium sportsbook technology and managed betting services.

Revenue and profitability continue to improve

Kambi Group reported revenue of €45.9 million for the second quarter of 2026 compared with €40.5 million during the same period in 2025. The increase of 13.5 percent reflects continued growth across the company's sportsbook operations and expanding commercial partnerships.

For the first six months of 2026 revenue reached €89.4 million which represented year-on-year growth of 9.1 percent.

Profitability also improved significantly throughout the quarter. Adjusted EBITA reached €7.6 million which represented an increase of 102 percent compared with the same period last year. The adjusted EBITA margin improved to 16.5 percent.

During the first half of 2026 adjusted EBITA increased by 83 percent to €13.3 million with a margin of 14.8 percent compared with 8.8 percent in the previous year.

Operating profit for the quarter totalled €5.8 million while the operating margin increased to 12.7 percent. For the first half of the year operating profit reached €10.1 million with an operating margin of 11.2 percent.

Cost discipline supports stronger margins

While revenue increased at a healthy pace Kambi Group also maintained tight control over operating expenses.

Operating expenses for the second quarter declined slightly to €31.5 million representing a decrease of 0.6 percent. During the first half of the year operating expenses totalled €63.4 million which was 1.4 percent lower than the comparable period in 2025.

The combination of higher revenue and disciplined cost management contributed to a significant improvement in operating margins and overall profitability. The company's ongoing efficiency programme continued to support financial performance while allowing investment in technology and product development.

Cash flow excluding working capital mergers acquisitions and financing activities amounted to €1.5 million during the quarter. For the first six months of the year this figure reached €8.8 million.

Earnings per share also improved substantially reaching €0.128 during the second quarter compared with €0.009 one year earlier. For the first half of 2026 earnings per share increased to €0.213 from €0.036.

Company raises full-year earnings outlook

Following a strong first half Kambi Group increased its full-year guidance for adjusted EBITA.

The company now expects adjusted EBITA for 2026 to be between €23 million and €27 million. This represents an increase from its previous forecast range of €20 million to €25 million.

The revised outlook reflects management's confidence in continued revenue growth operational improvements and commercial momentum during the remainder of the year.

FIFA World Cup delivers exceptional sportsbook performance

One of the major highlights of the quarter was the FIFA World Cup which generated outstanding sportsbook activity across Kambi's partner network.

The company processed more than €1 billion in Turnkey Sportsbook turnover during the tournament while recording an operator trading margin of 18 percent across the competition.

The event also marked an important technological milestone for Kambi Group. It was the first FIFA World Cup where sportsbook trading was fully managed through the company's AI-driven trading systems.

Artificial intelligence enabled the business to automate sportsbook operations more efficiently while maintaining high market availability and competitive betting markets throughout the tournament.

Enhanced Bet Builder functionality also improved betting opportunities particularly across player proposition markets. The larger tournament format created additional betting content while automation allowed Kambi to deliver those markets efficiently.

Expansion strengthens presence in Canada

Commercial expansion remained another important driver of growth during the quarter.

Kambi Group was selected by Atlantic Lottery Corporation and British Columbia Lottery Corporation to provide sportsbook technology for a new multi-province Canadian sportsbook solution.

The company also entered into a partnership with Pure Casino Entertainment ahead of Alberta's regulated online gambling market launch on 13 July.

These agreements further strengthen Kambi's long-term position within Canada's evolving regulated sports betting market which continues to present attractive growth opportunities for technology providers.

New partnerships broaden commercial reach

Beyond Canada Kambi Group continued expanding its international partner network.

The company signed a multi-year Odds Feed+ agreement with RETABET Group while also extending its partnership with 4 Bears Casino & Lodge to include its player account management platform.

In addition Kambi expanded existing relationships with BetWarrior and Desert Diamond Casinos through extended Turnkey Sportsbook agreements.

These partnerships demonstrate the company's strategy of combining new customer acquisition with deeper collaboration among existing clients. This diversified approach helps support recurring revenue while strengthening long-term commercial relationships.

CEO highlights operational progress

Werner Becher Chief Executive Officer of Kambi Group welcomed the company's financial and operational performance during the quarter.

He said: “Q2 marked another strong period of progress for Kambi, both in terms of financial delivery and in demonstrating the ongoing momentum we are building as a business. We delivered a positive financial performance during the quarter, with strong revenue growth to €45.9m and double the adjusted EBITA (acq) to €7.6m, despite credits related to operational issues in April. This growth was supported by a record quarterly operator trading margin of 14.0 per cent, continued commercial momentum and disciplined cost control through our ongoing efficiency programme. Our Q2 performance, following on from a good Q1, puts us in a strong position for the rest of the year; today we have increased our full-year outlook with an expected adjusted EBITA (acq) of €23 to €27m for 2026.”

He also emphasised the importance of the FIFA World Cup and the company's transition toward AI-powered sportsbook operations.

Becher stated: “This was Kambi’s first FIFA World Cup to be fully traded by AI, representing an important milestone in the evolution of our cutting-edge sportsbook technology.”

Discussing commercial expansion he added: “While there remains work to do, the first half of 2026 has demonstrated we have now turned a corner and returned to growth. This improved performance is driven by the development of our market-leading product, commercial progress and the ongoing transition to an AI-first organisation. As we increase our estimated 2026 adjusted EBITA (acq), our focus now is on sustaining this momentum and translating it into long-term value for our partners and shareholders.”

Outlook remains positive

Kambi Group enters the second half of 2026 with growing confidence after delivering stronger financial results and expanding its international footprint. Improved profitability alongside disciplined cost management has created a stronger financial foundation while continued investment in artificial intelligence is enhancing operational efficiency.

The company's expanding presence in regulated markets particularly in Canada demonstrates its commitment to long-term sustainable growth. Combined with ongoing product innovation and an expanding portfolio of sportsbook partners Kambi appears well positioned to build on the momentum achieved during the first half of the year.

Conclusion

Kambi Group's second quarter results highlight a business that is successfully balancing financial discipline with strategic investment. Revenue growth improved profitability and higher earnings guidance indicate that the company's long-term strategy is producing measurable results. Strong FIFA World Cup performance successful AI implementation and continued commercial expansion have strengthened its competitive position within the global sportsbook technology sector.

With additional opportunities emerging in regulated markets and a growing network of sportsbook partners Kambi Group appears well placed to continue delivering value for customers partners and shareholders throughout the remainder of 2026.

FAQs

What was Kambi Group's revenue in Q2 2026?
Kambi Group reported revenue of €45.9 million during the second quarter of 2026 which represented a 13.5 percent increase compared with the same period in 2025.

Why did Kambi Group increase its full-year outlook?
The company raised its outlook following stronger financial performance improved profitability successful cost control and continued commercial expansion during the first half of 2026.

How did the FIFA World Cup contribute to Kambi's results?
The tournament generated more than €1 billion in Turnkey Sportsbook turnover and produced a strong operator trading margin while showcasing Kambi's AI-powered sportsbook capabilities.

What is adjusted EBITA?
Adjusted EBITA is a financial measure that reflects earnings before interest taxes amortisation and selected adjustments allowing investors to evaluate operating performance.

Which Canadian organisations partnered with Kambi Group?
Atlantic Lottery Corporation British Columbia Lottery Corporation and Pure Casino Entertainment all announced partnerships with Kambi Group during the period.

What technology milestone did Kambi achieve during the World Cup?
The 2026 FIFA World Cup was the first tournament fully traded using Kambi's artificial intelligence systems.

Did Kambi reduce operating expenses?
Yes. Operating expenses decreased by 0.6 percent during the second quarter and by 1.4 percent during the first half of the year.

What new commercial agreements were announced?
Kambi signed a new Odds Feed+ partnership with RETABET Group expanded its relationship with 4 Bears Casino & Lodge and extended agreements with BetWarrior and Desert Diamond Casinos.

What is Kambi Group's updated earnings forecast?
The company expects adjusted EBITA for 2026 to be between €23 million and €27 million.

Why is Canada an important market for Kambi Group?
Canada continues to expand its regulated sports betting market which provides significant long-term growth opportunities for sportsbook technology providers.