Kambi Posts €46m Q3 Revenue as Profit Surges 214% on AI Trading

Kambi Group reported Q3 2026 revenue of €46 million, a 23% year-on-year increase, while operating profit rose 214% to €5.1 million. Adjusted EBITA climbed 161% to €7.9 million and the business maintained a full-year adjusted EBITA outlook of approximately €26 million, updated from a previous €23–€27 million range.

Financial result and outlook

Revenue for the first nine months of 2026 reached €135.4 million, up 13.5% year-to-date. Operating profit for the nine-month period increased to €15.2 million from €4 million in the prior year. Quarterly adjusted EBITA improved to €7.9 million, with the adjusted EBITA margin widening from 8.2% to 17.3% in Q3. The FIFA World Cup contributed to an 11.9% operator trading margin in the quarter, the company's second-highest quarterly level, although less favourable sporting results followed in August and September. Operating expenses were largely stable at €29.2 million for the quarter.

CEO Werner Becher attributed the performance to cost control, currency moves and partner growth. He said:

"Kambi continued its positive trajectory in Q3, driven by a robust financial performance, new partner wins and further strategic progress." — Werner Becher

AI trading and product integration

Kambi reported that its proprietary artificial intelligence trading system now processes approximately 85% of network bets. The company said 59% of AI-traded live bets no longer require an acceptance delay, a change it expects will allow millions of additional wagers annually. Kambi is extending its AI coverage into basketball, American football and table tennis alongside soccer, baseball, tennis and ice hockey. The business also consolidated Abios, Shape Games and Tzeract under the Kambi brand to simplify operations.

Commercial deals and geographic expansion

Kambi secured a 10-year agreement with Station Casinos to deliver sportsbook technology and player account management services in Nevada; the deal includes retail and online sports betting and an initial regulatory field test before a broader statewide launch. The company also signed sportsbook agreements with Pure Casino Entertainment and QuinnBet, added RETABET to its Odds Feed+ network, and supported operator launches in Alberta, Canada. The Station Casinos agreement is a material part of Kambi's US expansion and partner-network growth. See more coverage in our b2b section.

Regulatory headwinds: Brazil

Kambi said Brazil represented only a low single-digit percentage of 2026 revenue, limiting immediate impact from the national online gambling ban. The company warned the restrictions could remove future opportunities in the Brazilian sports betting market and adjusted its full-year outlook to around €26 million in adjusted EBITA.

"Supported by our powerful network, proven technology and a clear strategic focus, I believe the business is well positioned to deliver sustainable long-term value for both partners and shareholders alike." — Werner Becher