Gambling.com Group Ltd
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Gambling.com Group Ltd AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill/intangibles of 261.9M is 196% of equity (133.7M) - tangible book value is NEGATIVE (-128.2M), creating material impairment risk[Goodwill and Other Intangible Assets]
- Gross margin TTM of 93.2% vs industry median 51.6% - asset-light affiliate model generates 1.8x industry profitability at gross level[Gross Margin TTM]
- EPS collapsed -76.2% YoY despite 25.7% 3Y revenue CAGR - interest expense (7.8M) consuming 183% of net income (1.9M)[EPS Growth 1 Year]
Watch Triggers
- Interest Expense TTM: Falls below 5M or rises above 10M — Debt service consuming 410% of net income; any change directly impacts bottom line
- Goodwill and Other Intangible Assets: Any impairment charge announced — At 196% of equity, even 20% write-down eliminates 39% of book value
- Free Cash Flow TTM: Falls below 20M — FCF is only source for debt paydown; decline extends leverage timeline
Bull Case
Asset-light model with 93% gross margins and 22.6% operating margins (2.8x industry median) generates 29.1M FCF on 154.5M revenue - 18.8% FCF yield on market cap
P/E of 7.6x vs industry median 21.2x and P/S of 1.26x vs 1.48x median despite superior margins - valuation reflects temporary earnings compression
Bear Case
Negative tangible book (-128.2M) with 196% goodwill/equity means any acquisition write-down could wipe equity; 76% EPS decline shows earnings fragility
Interest expense (7.8M) exceeds net income (1.9M) with 88.2M debt and only 7.4M cash - liquidity risk if FCF deteriorates
Bull vs Bear Balance
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Forward Thesis
Debt burden will compress earnings until refinanced or paid down from FCF
- Interest expense 7.8M vs net income 1.9M TTM
- Total debt 88.2M at 0.66x equity
- FCF of 29.1M can reduce debt ~33% annually
Operating leverage should improve net margins as revenue scales
- Operating margin 22.6% vs 8.2% industry median
- 93% gross margins provide cushion
- Revenue 3Y CAGR of 25.7%
Valuation Context
Caveats
GAMB Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$87.01M | — | ||
$199.5M | — | ||
0.00 | — | ||
$165.25M | +19.2% | — | |
$-1.28 | — | ||
15.0% | -14.1% | — | |
-27.4% | -52.4% | — | |
$6.91M | +17.2% | — | |
-35.6% | -61.4% | — | |
Beta 5Y (Monthly) | unknown | — |
GAMB Dividend History
GAMB Stock Splits
GAMB SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/14/26 | 03/31/26 | 6-K | |
03/19/26 | 12/31/25 | Unknown | |
11/13/25 | 09/30/25 | 6-K | |
08/14/25 | 06/30/25 | 6-K | |
05/15/25 | 03/31/25 | 6-K | |
03/19/26 | 12/31/24 | 20-F | |
03/20/25 | 12/31/24 | 20-F | |
11/14/24 | 09/30/24 | 6-K | |
08/14/25 | 06/30/24 | 6-K | |
08/15/24 | 06/30/24 | 6-K | |
05/15/25 | 03/31/24 | 6-K | |
05/16/24 | 03/31/24 | 6-K | |
03/21/24 | 12/31/23 | 20-F | |
03/20/25 | 12/31/23 | 20-F | |
11/14/24 | 09/30/23 | 6-K | |
11/15/23 | 09/30/23 | 6-K | |
08/17/23 | 06/30/23 | 6-K | |
05/18/23 | 03/31/23 | 6-K | |
03/20/25 | 12/31/22 | 20-F | |
03/23/23 | 12/31/22 | 20-F | |
11/17/22 | 09/30/22 | 6-K | |
11/15/23 | 09/30/22 | 6-K | |
08/29/22 | 06/30/22 | 6-K | |
05/18/23 | 03/31/22 | 6-K | |
05/31/22 | 03/31/22 | 6-K | |
03/25/22 | 12/31/21 | 20-F | |
11/18/21 | 09/30/21 | 6-K | |
08/26/21 | 06/30/21 | 6-K | |
07/14/21 | 03/31/21 | F-1/A | |
05/31/22 | 03/31/21 | 6-K | |
07/14/21 | 12/31/20 | F-1/A | |
11/18/21 | 09/30/20 | 6-K | |
08/26/21 | 06/30/20 | 6-K | |
07/14/21 | 03/31/20 | F-1/A |