Kambi Returns to Growth After World Cup-Fueled Q2, Revenue Up 13.5% to €45.9 Million

Kambi Group has posted a strong second-quarter turnaround, with revenue climbing 13.5% year-over-year to €45.9 million ($52.4 million), up from €40.5 million ($46.2 million) in the same period last year. The Swedish sports betting technology provider credited the growth to a record-setting FIFA World Cup, which drove more than €1 billion ($1.1 billion) in turnover through its Turnkey Sportsbook platform alone.

The results mark a notable rebound for a company that has spent recent years working to prove its AI-driven trading systems can consistently outperform in high-volume moments. With the expanded, 104-match World Cup format producing more than 70 matches during Kambi’s second quarter, the tournament gave the company an outsized stage to demonstrate that capability, and it delivered.

Margins and Profitability Surge

Kambi’s operator trading margin during the World Cup reached 18%, well above the company’s typical baseline range of 11% to 14%, as its AI-powered trading system processed more than 100 million bets globally. That performance carried into Kambi’s broader Q2 numbers, with adjusted EBITA (acq) more than doubling to €7.6 million ($8.7 million) from €3.7 million ($4.2 million), at a margin of 16.5%, up from 9.3% a year earlier. Operating profit jumped 262% to €5.8 million ($6.6 million).

For the first half of 2026, revenue reached €89.4 million ($102 million), a 9.1% increase from €81.9 million ($93.4 million) in the prior-year period, while adjusted EBITA (acq) rose 83% to €13.3 million ($15.2 million). Operating expenses, meanwhile, stayed essentially flat, dipping 0.6% to €31.5 million ($35.9 million) in the quarter, showing the kind of operating leverage that turns a strong revenue quarter into an even stronger profit one.

Kambi’s live Bet Builder product, which lets bettors combine multiple markets on a single match into one wager, accounted for 22% of all live bets processed through its technology during the World Cup, a sharp jump from just 3% during the 2022 tournament. Company leadership pointed to that shift, along with steadily rising quarterly margins over the past year, as evidence that its trading and risk management approach is translating into durable results rather than a one-off tournament bump.

Guidance Raised on Momentum Into Canada and Beyond

Buoyed by the quarter, Kambi raised its full-year 2026 adjusted EBITA guidance to a range of €23 million to €27 million ($26.2 million to $30.8 million), up from its previous outlook of €20 million to €25 million.

The quarter was also active on the partnerships front. Kambi was selected by Atlantic Lottery Corporation and the British Columbia Lottery Corporation to power a new multi-province sportsbook covering seven Canadian provinces, and it struck a deal in May with gaming solutions provider Canadian Bank Note Company to expand into lottery-run sports betting markets across South America, Central America, and the Caribbean. Closer to home, Kambi partnered with Pure Casino Entertainment ahead of Alberta’s regulated sports betting market opening on July 13, with an online sportsbook launch expected in the coming weeks.

Kambi also extended existing partnerships with Desert Diamond Casinos, the largest tribal gaming operator in Arizona, and BetWarrior, one of the top operators in Argentina, while adding a new multi-year Odds Feed+ agreement with RETABET covering the Spanish and Peruvian markets. The company said its roughly 70-operator partner network, combined with data drawn from €17 billion in annual global betting liquidity, continues to fuel the AI trading models now handling more than 75% of all bets placed across its platform.

With World Cup momentum carrying into the third quarter and a growing footprint among regulated lottery operators, Kambi’s leadership signaled confidence that the improved margins are less a tournament anomaly and more a sign of where its trading technology business is headed for the rest of the year. Bettors weighing sportsbook options can compare current offers through the Sportsbook Promotions hub, while those looking to shop odds across markets can check the Sportsbooks hub for reviews of major operators.