Gambling.com Group Ltd
GAMB · Services-Miscellaneous Amusement & Recreation · EDGAR filings ↗
Grade
C57Fast-growing, high-gross-margin gambling-affiliate business that converts cash well but posted a GAAP net loss and flagged material weaknesses.
Strengths
- Revenue up 30% (88th pct) at 90.8% gross margin with positive FCF of $18M (FCF margin 75th pct)
- Asset-light, cash-generative model with leading SEO-driven affiliate assets
Risks
- Reported net loss (net margin -20%, operating margin -19%) and negative ROE; net income growth -207%
- Identified material weaknesses in ICFR, elevated leverage (D/E 1.1, 78th pct), customer concentration and SEO/AI-search dependence
Notable findings
- No interest coverageInterest coverage -3.76 (cannot cover interest)
- Net lossNet loss (net margin -19.9%)
- Material weakness• We identified material weaknesses in our internal control over our financial reporting process
Key metrics
Gross margin
90.8%
Operating margin
-19.2%
Net margin
-19.9%
Return on equity
-30.5%
Return on assets
-11.0%
ROIC
-11.1%
Revenue growth (QoQ)
30.1%
Net-income growth
-207.3%
Debt / equity
1.1×
Interest coverage
-3.8×
Current ratio
1.2×
Free cash flow
$18M
Tangible book value
$108M
Cash & investments
$16M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-19 | 2025-12-31 | 0001839799-26-000048 ↗ |
| 20-F | 2025-03-20 | 2024-12-31 | 0001839799-25-000022 ↗ |
| 20-F | 2024-03-21 | 2023-12-31 | 0001839799-24-000019 ↗ |
| 20-F | 2023-03-23 | 2022-12-31 | 0001839799-23-000015 ↗ |
| 20-F | 2022-03-25 | 2021-12-31 | 0000950170-22-004597 ↗ |