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On January 20, Benchmark analyst Mike Hickey lowered the firm’s price target on Gambling.com Group Limited (NASDAQ:GAMB) to $7 from $8 while maintaining a Buy rating, reflecting a more cautious stance on the company’s 2026 earnings trajectory rather than any deterioration in near-term fundamentals. The firm expects fourth-quarter results to come in line with updated 2025 guidance, but flagged rising risk that next year’s results could undershoot current consensus expectations amid a more competitive and maturing online gambling landscape.
Operationally, Gambling.com Group Limited continues to thrive; during the third quarter of 2025, the company delivered record revenue of $39 million, up 21% year over year, while adjusted EBITDA increased 3% to $13 million. Management also raised full-year expectations, guiding to approximately $165 million in revenue and $58 million in adjusted EBITDA, representing year-over-year growth of 30% and 19%, respectively. These results underscore the scalability of the company’s performance marketing model and its ability to generate strong cash flow even as growth moderates.
Founded in 2006, Gambling.com Group Limited is a performance marketing and sports betting media company that provides digital customer acquisition services to online gambling operators. With primary operations in Dublin, Ireland, and a significant U.S. presence in Charlotte, North Carolina, the company remains well-positioned to benefit from the continued legalization and expansion of online sports betting, while its asset-light model provides flexibility to navigate potential volatility in 2026.
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