Kambi's Q2: Revenue Dip, Esports Boom, Buyback Plan

Kambi Group's Q2 2025 financial report presents a mixed landscape of challenges and opportunities. While the revenue figures indicate a noticeable decline, the company’s proactive expense management and significant strides in its esports betting operations point to a promising future.

• Kambi experienced an 11.5% revenue drop in Q2 2025 compared to the previous year, though this decline narrows to 2% when excluding transition fees.
• Operating profit and adjusted EBITA margins fell, yet expense reductions and a strong esports betting segment provide a strategic counterbalance.
• The launch of a SEK 165 million share buyback program underscores management’s confidence, marking a forward-looking approach amid market fluctuations.

In Q2 2025, Kambi reported a revenue of €40.5 million, marking an 11.5% decrease compared to the same quarter last year; however, when transition fees from Q2 2024 are excluded, the decline was only 2%. The first half of 2025 had total revenue of €81.9 million, representing a 7.9% decrease year-over-year, or a slight 2.3% increase on an adjusted basis. This nuanced performance underscores the impact of transition fees on reported figures.

The company's adjusted EBITA came in at €3.7 million in Q2 2025, corresponding to a margin of 9.2%, down from 16.4% in the previous year. In addition, the operating profit fell to €1.6 million from €6.2 million, and cash flow stood at €1.3 million. Despite these challenges, Kambi managed to reduce total expenses by 3.8%, effectively battling adverse foreign exchange shifts and evolving regulatory requirements.

Among the brighter developments, Kambi reported significant growth in its esports betting operations. This sector's rapid expansion is highlighted by an engaging discussion found in a esports game genres, which illustrates how modern gaming has evolved. Similarly, market dynamics in Europe are evolving, as seen with an top bookmakers in the Netherlands, underscoring broader trends in the betting industry.

The momentum is not confined to European markets. The surge of esports popularity is mirrored in regions such as China, with Chinese esports betting websites reshaping the landscape, while global insights emphasize the role of individual competitors through a valuable analysis of strategies for competitive esports player betting performance. Additionally, market reports have shown a strong interest in specific game titles, as reflected by a detailed analysis of apex legends betting odds and emerging trends which illustrates the exciting opportunities emerging within the esports arena.

Further bolstering investor confidence, Kambi's Board recently initiated a SEK 165 million share buyback program. This move reflects strong future expectations and a commitment to creating shareholder value despite short-term pressures, and it adds another positive dimension to the company's strategic outlook in a competitive market.