Reporting on its performance through Q1 2024, Kambi Group has revealed it reached €43.2m, with an operating profit of €4.4m.

Kambi Group

This was roughly in line with its 2023 performance which saw a revenue of €44m and an operating profit of €4.5m in Q1.

EBITA was 5.8m, at a margin of 13.3 per cent.

Kambi’s CEO and co-founder Kristian Nylén said: “For the first quarter of the year we posted revenue of €43.2m, which was in line with our expectations, while expenses were at the lower end of our guidance at €39m.

“A key highlight of the quarter was the launch of LiveScore Group's new Kambi-powered sportsbook in Nigeria, followed swiftly by a launch in the Netherlands. LiveScore was a pivotal signing for Kambi in 2023 and these launches mark crucial milestones toward our long-term objectives.

“We look forward to additional launches in the near future, including in its core UK market, ahead of a busy summer of sports with Euro 2024 and Copa América both set to commence in June.”

Meanwhile, Kambi also announced its AI-powered trading division Tzeract has partnered with kwiff to provide its Bet Builder product to the innovative sports betting operator. The partnership represents the first commercial deal for Tzeract since it was officially launched as a standalone division earlier this year.

Tzeract will initially provide kwiff with its Bet Builder football product ahead of the highly anticipated Euro 2024 football tournament. Additional sports will be added during the course of the partnership.

David Jacquet, interim managing director at Tzeract, said: “I am thrilled to announce Tzeract’s inaugural commercial partnership which will enable us to demonstrate the full power of Tzeract outside of the Kambi network for the first time. To work with such an innovative sportsbook like kwiff will provide the opportunities to build the world's most exciting and intuitive betting experiences together.”