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Gambling.Com Group Limited (NASDAQ: GAMB) reported first-quarter FY23 revenue growth of 36.3% year-over-year to $26.69 million, beating the consensus of $25.17 million. Adjusted EPS was $0.20, which beat the consensus of $0.17. Adjusted EPS in the year-ago quarter was $0.12. Strength in iCasino performance marketing revenue in many global markets with higher new depositing customers aided quarterly results. North American revenue grew 33% Y/Y for the quarter to $14.1 million. The company delivered more than 88,000 new depositing customers. Adjusted EBITDA increased 49% Y/Y to $10.7 million, and margin expended by 300 bps to 40%. The company exited the quarter with cash and equivalents of $33.56 million. “We have established a record of consistently delivering market-leading organic revenue growth compared to our publicly-traded peers, as well as strong Adjusted EBITDA and Free Cash Flow,” commented Charles Gillespie, Chief Executive Officer and Co-Founder. FY23 Outlook: Gambling.com raised FY23 guidance. The company sees $95 million-$99 million, higher than earlier guidance of $93 million-$97 million. The consensus stands at $95.02 million. GAMB sees Adjusted EBITDA of $33 million-$37 million, higher than earlier guidance of $32 million-$36 million. Price Action: GAMB shares traded lower by 1.93% at $9.64 on the last check Thursday.
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This article Gambling.com Earnings Beat Estimates In Q1, Raises FY23 Outlook originally appeared on Benzinga.com.