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Gambling.com's North American revenue grew 364% from last year23 March 2023(PRESS RELEASE) -- Gambling.com Group Limited, a provider of digital marketing services for the global online gambling industry, announced financial results for the fourth quarter and the full year periods ended 31 December 2022. “We ended 2022 extending our strong record of organic growth with quarterly revenue and Adjusted EBITDA reflecting another quarter of solid growth in our established markets and the continued strong ramp up of our North American operations,” said Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group. “Fourth quarter 2022 revenue more than doubled year over year to $21.3 million, while our high-margin operating model helped drive a 202% increase in Adjusted EBITDA to $6.9 million. The fourth quarter results reflect a nearly 200% year-over-year and 21% quarterly sequential increase in new depositing customers to 82,000. Our investments in expanding our team, technology, and our portfolio of performance marketing websites continue to drive highly efficient and effective customer acquisition for online gambling operators. These factors, combined with our expansion into five new North American markets last year, helped drive an 81% increase in 2022 full year revenue to $76.5 million, a 31% improvement in Adjusted EBITDA to $24.1 million, and Free Cash Flow of $9.5 million. “Gambling.com Group’s 364% year-over-year increase in fourth quarter North American revenue to $10.0 million reflects the continued benefit from strong performance in our newest markets, including solid results from our November launch in Maryland,” said Gillespie. “Further, we have seen great performance out of the gate from our Ohio launch in January and our launch in Massachusetts earlier this month. Complementing our North American growth, we also continue to demonstrate the value and benefits of our performance marketing platform in the U.K. and Ireland, where we have operated for nearly ten years, as we generated a 54% year-over-year revenue growth to $8.1 million, an all-time record for the fourth consecutive quarter. “Gambling.com Group is positioned for continued growth in 2023 and beyond as we strategically leverage our technology and portfolio of websites which this year will include the launch of the brand new Casinos.com website,” said Gillespie. “Our previously announced media partnerships with McClatchy and Gannett also position us to further deliver on our growth expectations and for our clients. We expect to generate strong organic growth in 2023 despite no current expectations for any additional North American markets coming online. By leveraging our high-yielding operating model to drive consistent profitability, we are confident that the Company can continue to drive near- and long-term growth and further enhance value for our shareholders.” Fourth Quarter 2022 and Recent Business Highlights:
2023 Outlook: The Company initiates full year 2023 guidance for revenue of $93 million to $97 million, and for Adjusted EBITDA of $32 million to $36 million. The Company’s guidance assumes:
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