24/7 Market News Snapshot 15 August, 2024 – Gambling.com Group Limited Ordinary Shares (NASDAQ:GAMB)

August 15, 2024

DENVER, Colo., 15 August, 2024 (247marketnews.com) – (NASDAQ:GAMB) are discussed in this article.
Gambling.com Group Limited has made headlines with its remarkable stock performance and robust financial results for the second quarter of 2024. The company’s shares opened at $10.49 and surged by approximately 24.52% to reach $10.97, reflecting strong investor interest following a previous closing price of $8.83. With a trading volume of 534.25K shares, this surge signals a bullish sentiment around the company’s market position within the competitive gaming sector.

Simultaneously, the company reported a significant increase in its financial performance, with a revenue rise of 18%, bringing in a record $30.5 million for the quarter. Notably, net income attributable to shareholders soared to $6.9 million, representing a staggering 2393% increase compared to the previous year. CEO and Co-Founder Charles Gillespie expressed enthusiasm about these results, attributing the success to the company’s agility and adaptability within the evolving online gambling market. The firm announced a goal of achieving $100 million in annual Adjusted EBITDA, reinforcing its commitment to strategic growth.

The quarter also saw a notable rise in new depositing customers, totaling over 108,000, which corresponds to a 19% increase year-over-year. The adjusted EBITDA surged by 19% to $11.2 million, marking a 37% margin. In response to the positive developments, Gambling.com Group has adjusted its full-year 2024 guidance to between $123 million to $127 million in revenue and between $44 million to $47 million in Adjusted EBITDA, projecting year-over-year growth of 15% and 24%, respectively.

With strategic acquisitions and a robust share repurchase program, Gambling.com Group is well-positioned for continued expansion in the dynamic online gambling sector, promising sustained value for its shareholders.

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