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Kambi Group (KAMBI) AI Stock Analysis
Kambi Group
(Nasdaq OMX AB:KAMBI)
The score is driven primarily by solid underlying financial stability (low leverage and good operating cash flow) and a strong, guidance-raising earnings call with clear operational outperformance. Offsetting these positives are weaker technicals (trading below key moving averages with soft momentum) and a relatively expensive valuation (high P/E and no dividend yield support).
Kambi Group (KAMBI) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 414.78M
- Dividend Yield
- ―
- Average Volume (3M)
- 53.01K
- Price to Earnings (P/E)
- 33.1
- Beta (1Y)
- 0.36
- Revenue Growth
- -10.22%
- EPS Growth
- -33.31%
- Country
- Sweden
- Employees
- 995
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Gambling, Resorts & Casinos
Kambi Group Business Overview & Revenue Model
Company Description
Kambi Group plc functions as a business-to-business partner, supplying comprehensive sports betting solutions to gaming operators that serve consumers across Europe, the Americas, and other international markets. Its extensive suite of services cover...
How the Company Makes Money
Kambi makes money by supplying sportsbook technology and services to betting operators (its partners) under commercial agreements that typically link Kambi’s remuneration to the partner’s sports betting performance. Its key revenue stream is B2B spor...
Kambi Group Earnings Call Summary
The call reported strong top-line growth, a sharp increase in adjusted EBITA (102% YoY), major World Cup operational success (100% uptime, >100M bets, >EUR1bn turnover), accelerated AI adoption and several commercial wins which together drove management to raise full-year EBITA guidance. Offsetting items include one-off operational credits, higher recharged data costs, tax and contractual pressures in some jurisdictions, short-term turnover risk after the very high margins in the World Cup, and some regulatory uncertainty. On balance, the positive operational execution, margin expansion and guidance raise materially outweigh the negatives.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Kambi raised its 2026 adjusted EBITA (acq) guidance from EUR 20–25m to EUR 23–27m, citing strong Q2 and World Cup performance: Q2 revenue was EUR 45.9m (up from EUR 40.5m), Q2 adjusted EBITA (acq) EUR 7.6m (vs EUR 3.7m last year, +102%), and H1 adjusted EBITA ~EUR 13.3m (about 50% of the low end of the new range). The upgrade reflects World Cup volumes (over 100m bets, >EUR 1bn Turnkey turnover, >EUR 500m turnover in Q2) and high operator trading margins (Q2 margin ~14%, World Cup margin ~17–18% producing ~EUR 6m revenue in Q2), plus a Turnover Index of 685 and ~2% YoY turnover growth; average turnover per match was ~+20% vs 2022, Bet Builders accounted for 22% of live bets (35% of all bets in the tournament), and 46% of tournament turnover came from South America. Management noted the guidance already reflects a low single‑digit million EUR hit from April operational credits, expects the remainder of the year to assume an ~11% sportsbook margin, and highlighted cash/returns actions including a EUR 9.2m (100m SEK) buyback program (EUR 3.6m executed in Q2) and a closing cash balance of EUR 33m.
Kambi Group Financial Statement Overview
Summary
Financials are stable with a conservative balance sheet (very low debt-to-equity) and healthy operating cash flow that exceeds net income, but profitability has eroded versus prior years (lower net margin and ROE), keeping the score from being higher.
Income Statement
62PositiveBalance Sheet
82Very PositiveCash Flow
70Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 169.50M | 162.02M | 176.41M | 173.30M | 166.01M | 162.42M |
| Gross Profit | 166.61M | 133.39M | 176.41M | 173.30M | 166.01M | 162.42M |
| EBITDA | 49.35M | 49.53M | 59.47M | 57.51M | 63.51M | 79.21M |
| Net Income | 11.48M | 6.81M | 15.45M | 14.90M | 26.45M | 46.43M |
Balance Sheet | ||||||
| Total Assets | 193.81M | 187.46M | 220.13M | 214.89M | 242.89M | 196.86M |
| Cash, Cash Equivalents and Short-Term Investments | 33.02M | 32.89M | 66.22M | 55.05M | 60.70M | 79.66M |
| Total Debt | 8.23M | 4.99M | 9.49M | 12.99M | 20.68M | 24.77M |
| Total Liabilities | 35.45M | 26.38M | 39.80M | 42.74M | 79.50M | 61.48M |
| Stockholders Equity | 158.36M | 161.07M | 180.32M | 172.15M | 163.39M | 135.38M |
Cash Flow | ||||||
| Free Cash Flow | 15.51M | 3.82M | 24.24M | 18.67M | 20.58M | 47.46M |
| Operating Cash Flow | 40.26M | 31.68M | 53.70M | 49.84M | 49.00M | 72.33M |
| Investing Cash Flow | -28.60M | -28.31M | -29.66M | -42.73M | -64.78M | -39.62M |
| Financing Cash Flow | -30.10M | -30.19M | -13.07M | -17.35M | -1.86M | -14.25M |
Kambi Group Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:KAMBI, the sentiment is Negative. The current price of 152.20 is below the 20-day moving average (MA) of 158.01, below the 50-day MA of 168.16, and above the 200-day MA of 148.78, indicating a neutral trend. The MACD of -4.61 indicates Negative momentum. The RSI at 33.39 is Neutral, neither overbought nor oversold. The STOCH value of 30.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:KAMBI.
Kambi Group Peers Comparison
Overall Rating
SE:EVO85Outperform
SE:BETS.B76Outperform- SE:KAMBI69Neutral
SE:G2M55Neutral
SE:ACROUD43Neutral
SE:GCOR41Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SE:EVO | 85Outperform | SEK 150.88B | 13.85 | ― | ― | -3.33% | -5.49% |
| SE:BETS.B | 76Outperform | SEK 13.00B | 10.53 | 12.81% | 7.44% | -0.47% | -43.52% |
| SE:KAMBI | 69Neutral | SEK 4.01B | 33.07 | 7.14% | ― | -10.22% | -33.31% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
| SE:G2M | 55Neutral | SEK 651.31M | 11.12 | -44.77% | ― | -20.52% | ― |
| SE:ACROUD | 43Neutral | SEK 111.93M | -3.77 | -15.07% | ― | 17.97% | 93.95% |
| SE:GCOR | 41Neutral | SEK 101.81M | -2.54 | 406.23% | ― | 57.81% | 9.24% |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:KAMBI | Kambi Group plc Class B | 152.20 | 41.80 | 37.86% | |
| SE:EVO | Evolution Gaming | 824.20 | 182.40 | 28.42% | |
| SE:BETS.B | Betsson AB Class B | 96.45 | -42.95 | -30.81% | |
| SE:G2M | Gentoo Media Inc | 4.83 | -4.14 | -46.10% | |
| SE:ACROUD | Acroud AB | 0.09 | -0.05 | -37.86% | |
| SE:GCOR | Gaming Corps AB | 0.70 | -0.44 | -38.60% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Sep 26, 2026