Kambi reports 23% revenue growth and stronger profitability in Q3 2026

Kambi’s third-quarter numbers point to a business that is doing what public markets like to see: revenue up, margins improved, and guidance nudged higher. For high-risk payment and sportsbook partners, the more interesting part is the commercial footprint behind those figures — especially new regulated-market deals in Nevada and elsewhere.

1. Kambi booked €46 million in revenue in Q3 2026, up from €37.4 million in the same quarter last year. For the first nine months of the year, revenue reached €135.4 million, a 13.5% increase from €119.3 million in 2025.
2. Gross profit rose 16% year on year to €37.2 million in the quarter, although the gross margin fell to 80.9% from 85.8% in Q3 2025. For January to September, gross profit came in at €113.8 million, up 10%.
3. Adjusted EBITA (acq) was the standout: it increased 161% to €7.9 million in Q3, from €3 million a year earlier, with the corresponding margin rising to 17.3% from 8.2%. Over the nine-month period, adjusted EBITA (acq) more than doubled to €21.2 million from €10.3 million in 2025.
4. Operating profit also improved materially, reaching €5.1 million in the quarter versus €1.6 million last year. The margin rose to 11.1% from 4.3%, while operating expenses were broadly flat at €29.2 million, up just 0.7% year on year. For January to September, operating expenses fell 0.8% to €92.6 million.
5. On the back of the quarter, Kambi raised its full-year adjusted EBITA (acq) outlook to approximately €26 million, compared with its previous guidance range of €23 million to €27 million.
6. Commercially, the key headline was a 10-year omnichannel sportsbook and player account management (PAM) deal with Station Casinos in Nevada. The agreement covers both Kambi’s turnkey sportsbook and its in-house PAM platform, with CEO Werner Becher saying Station Casinos is preparing to launch the solutions through Nevada’s regulatory field trial before a full statewide rollout.
7. Kambi also expanded its Turnkey Sportsbook roster through deals with Pure Casino Entertainment and QuinnBet, while RETABET joined its network via Odds Feed+. The company said these moves strengthen its position in regulated betting markets and broaden its partner base across operators and jurisdictions.

Kambi also supported several operator launches in Alberta, adding another regulated North American market to the mix. For PSPs and acquirers, the practical signal is straightforward: Kambi is still deepening its reach in regulated sportsbook infrastructure, which tends to pull payment requirements, onboarding pressure, and partner complexity along with it.