Kambi posts €46M revenue in Q3 2026 as operating profit soars
Strong margins and new deals drive results despite regulatory setbacks in Brazil
Key Takeaways
- Kambi Group recorded €46 million in revenue in Q3 2026, a 23% increase year-on-year.
- Operating profit rose 214% to €5.1 million and adjusted EBITA reached €7.9 million for the quarter.
- Kambi's AI trading system now processes about 85% of network bets and 59% of live bets no longer need an acceptance delay.
- Kambi signed a 10-year agreement with Station Casinos for Nevada sportsbook and player account services and kept full-year adjusted EBITA guidance at ~€26 million.
Kambi Group reported a 23% increase in third-quarter 2026 revenue to €46 million, and operating profit tripled to €5.1 million. The company attributed the results to new sportsbook agreements and stronger betting margins, despite regulatory setbacks in Brazil.
Key financial results
The group said operating profit rose 214% to €5.1 million and adjusted EBITA grew 161% to €7.9 million in the quarter. Kambi maintained its adjusted EBITA guidance for the full year at approximately €26 million, replacing the previous range of €23 million to €27 million.
In the first nine months of 2026, revenue increased 13.5% to €135.4 million, while operating profit rose to €15.2 million from €4 million in the prior-year period. Operating expenses remained almost unchanged at €29.2 million.
"Kambi continued its positive trajectory in Q3, driven by a robust financial performance, new partner wins and further strategic progress", said Werner Becher.
Technology and automation: AI at the front
Kambi reported that its trading system powered by artificial intelligence now processes approximately 85% of network bets. The firm added that 59% of live bets managed by the AI no longer require an acceptance delay, which could unlock millions of additional bets annually.
The AI rollout covers basketball, American football and table tennis, in addition to football, baseball, tennis and ice hockey. The company integrated Abios, Shape Games and Tzeract under the Kambi brand to simplify operations.
Market expansion and commercial deals
Kambi closed a 10-year agreement with Station Casinos to deliver its sportsbook technology and player account management services in Nevada; the deal covers retail and online betting and envisages an initial regulatory field test before a wider state rollout. The company also signed agreements with Pure Casino Entertainment and QuinnBet, added RETABET to its Odds Feed+ network, and supported operator launches in Alberta, Canada. [See casino coverage](/casino)
Regulatory impact and sport-by-sport performance
The national ban on online gambling in Brazil represented only a single-digit percentage of Kambi's 2026 revenue, limiting immediate financial impact, although the company acknowledged the loss of future opportunities in that market. The FIFA World Cup drove an operating trading margin of 11.9% during the third quarter, the second-highest quarterly level in the company's history; less favourable sporting results followed in August and September.
"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", added Werner Becher.
Frequently Asked Questions
How much did Kambi's revenue increase in Q3 2026?
Kambi's revenue rose by 23% in the third quarter of 2026 to €46 million, which the company attributed to new commercial agreements and higher betting margins.
What percentage of bets does Kambi's AI process?
Kambi reported that its AI-driven trading system processes approximately 85% of network bets, and 59% of live bets managed by the AI no longer require an acceptance delay.
What does the Station Casinos deal cover and how will it be rolled out?
The 10-year agreement with Station Casinos covers sportsbook technology and player account management for retail and online betting in Nevada, with an initial regulatory field test planned before a wider state rollout.
How did Brazil's regulatory change affect Kambi in 2026?
The national online gambling ban in Brazil represented only a single-digit percentage of Kambi's 2026 revenue, so the immediate financial impact was limited, though the company noted lost future opportunities in that market.
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About the author
Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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