Gambling.com Group Limited Ordinary Shares Q2 2026 Earnings Recap

Shares of Grandstand Limited edged up modestly by 0.5% following Q2 results that were broadly in line with expectations, with revenue and EBITDA steady but marketing segment showing continued pressure. Investors appeared cautious given the ongoing marketing revenue decline offset by cost restructuring and a stable outlook.

Key Takeaways

• Q2 revenue totaled $37.8 million, adjusted EBITDA reached $7.7 million, both consistent with company guidance.
• Adjusted free cash flow was nearly $10 million, indicating solid cash generation despite segment headwinds.
• Sports Data Services revenue grew 12% year-over-year, driven by strong B2B growth, particularly from Optic OS, with B2B now the majority contributor and expected to grow over 50% annually.
• Marketing revenue declined 10% year-over-year to $26.5 million, primarily due to shrinking SEO revenue, though growth in North America and partner audience monetization partially offset this.
• Company restructuring has largely concluded, with cost savings expected to boost margins in H2 and into 2027, supporting the reiterated full-year guidance.