Gambling.com Group Limited (NASDAQ:GAMB) Q4 2023 Earnings Call Transcript

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Clark Lampen : Thanks very much. I wanted to, Charles, I guess maybe backtrack to your sort of comment during the prepared remarks around 30% growth in North America. Could you give us a sense, I guess, if it’s possible of maybe inclusive of North Carolina, inclusive of ongoing increases in penetration, where do you think that rate lands in 2024?

Charles Gillespie : Well, that 30% figure, that was — it was calculated in a very simple way where we just excluded all the new state revenue from 2023 in the calculation. You can do a more intricate analysis of the same state sales, a more like-for-like analysis, and the figure is substantially higher than 30%. If you look at North America as a whole this year, with only one new state launch compared to three new state launches last year, growth will obviously moderate for the entire sector. But we still expect to see growth in North America. And if you were to take out the effect of North Carolina, it’s just one state, so it’s not going to make a massive difference overall in the full-year North American results.

Clark Lampen : Okay. That’s helpful. And maybe, I guess, just kind of a derivative question. As we think about, I guess, the mix of revenue for 2024 in total, should we think about more of the business sort of continuing to be, this media partnerships business that you guys have been building has been growing, I think, very nicely, as you guys noted in the release. Is that expected to continue, or did we see sort of an inflection point maybe in 4Q and that sort of rate of revenues? I guess, if you guys would be willing to quantify it, it would be helpful, I guess, in absence of the filing. Does that sort of persist throughout 2024? Thank you, guys.

Charles Gillespie : Yeah. Due to the quite quick launch of ESPN BET, a lot of that value was captured by our media partners. So, the media partnership proportion in Q4 would be meaningfully higher than where we would expect to see it on a kind of normal run-rate basis. So, that’s, I wouldn’t look to Q4 to inform you for full-year 2024. It’ll be a good bit less. But I think we’re estimating about 15% of revenue in 2024 to come from media partnerships.

Clark Lampen : Thank you again.

Operator: We have reached the end of our question-and-answer session. I would like to turn the conference back over to management for closing remarks.

Charles Gillespie : Thanks, everybody, for joining us today. It’s been a pleasure to share all this positive news with you, and we look forward to catching up in May when we will share our Q1 results.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time. And thank you for your participation.

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