The following is a summary of the Gambling.com Group Limited (GAMB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Gambling.com Group reported Q1 2024 revenue of $29.2 million, a 9% year-over-year increase, with North American revenue growing 5% year-over-year.

• Adjusted EBITDA for Q1 was $10.2 million, slightly lower than the $10.7 million from the same period the previous year.

• The company reported an increase in free cash flow by 32% to $8.2 million, converting 28% of revenue and 81% of adjusted EBITDA to free cash flow.

• The company also made share repurchases worth approximately $3 million and has about $3.9 million left on their existing share buyback authorization.

• The revenue and adjusted EBITDA guidance for 2024 is $118-122 million and $40-44 million respectively.

• The company expects full year 2024 cost of sales to be approximately $4.8 million.

Business Progress:

• Gambling.com Group completed the acquisition of Freebets.com and related assets.

• Despite changes in Google's policy impacting media partnerships, the company experienced increased traffic to its owned and operated sites and still expects these partnerships to drive incremental EBITDA.

• Gambling.com Group is considering potential M&A opportunities with technology-first companies in the online gambling space.

• The company remains committed to achieving year-on-year adjusted EBITDA growth of 14% at the new midpoint and continues to drive incremental EBITDA with a revenue growth target of 10% year-over-year.

• The company is expanding beyond the US and prioritizing growth in assets in other geographies. It launched a Greek version of Gambling.com and planning to launch in Romania. The acquisition of Freebets.com is expected to contribute to growth once fully integrated.

More details: Gambling.com IR

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