Kambi raises 2026 guidance after Q3 revenue rises 23% to €46m and adjusted EBITA jumps 161%

Kambi Group has lifted its full-year 2026 adjusted EBITA (acq) guidance to around €26m after a Q3 that brought higher revenue, sharply better profitability, and more commercial activity across its sportsbook network. For high-risk operators and PSPs, the useful bit is not the earnings beat itself, but the mix behind it: partner expansion, regulated-market launches, and an AI trading share that now dominates betting volume.

1. Kambi’s third-quarter 2026 revenue rose 23 per cent year on year to €46.0m, while adjusted EBITA (acq) increased 161 per cent to €7.9m. For January to September 2026, revenue reached €135.4m and adjusted EBITA (acq) was €21.2m, up from €10.3m in the same period last year.
2. The company updated its full-year 2026 adjusted EBITA (acq) guidance to around €26m, compared with the previous range of €23m to €27m. On paper that is a narrower and slightly more specific target; in practice it tells the market Kambi is willing to commit to the current run-rate after a stronger-than-expected quarter.
3. Operationally, Kambi said AI trading accounted for 85 per cent of bets across its network. That is the key detail for sportsbook operators and their payment partners: the commercial story is increasingly tied to automated pricing and trading rather than purely to distribution growth.
4. The quarter also included a 10-year omni-channel sportsbook and PAM (player account management) partnership with Station Casinos in Nevada. Kambi also expanded its partner network through agreements with Pure Casino Entertainment, QuinnBet and RETABET, and supported launches in Alberta’s newly regulated online market.
5. Brazil accounted for a low single-digit percentage of Kambi’s 2026 revenue, but CEO Werner Becher said the country’s online gambling ban could remove long-term growth potential. For PSPs and operators watching jurisdictional risk, that is the standard reminder that even a small current revenue share can matter if the regulatory door closes on future scale.

Gross profit in Q3 increased 16 per cent to €37.2m, with a margin of 80.9 per cent, while operating profit rose to €5.1m from €1.6m. Operating expenses were €29.2m in the quarter, up just 0.7 per cent year on year, which is the kind of cost discipline that tends to matter when sportsbook vendors are trying to show they can grow without immediately burning the gain.