Gambling.com (GAMB)
Market Price (12/18/2025): $5.425 | Market Cap: $193.0 MilSector: Consumer Discretionary | Industry: Casinos & Gaming
Gambling.com (GAMB)
Market Price (12/18/2025): $5.425Market Cap: $193.0 MilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24% | Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -108% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 102x |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.1% | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% | Key risksGAMB key risks include [1] its heavy dependence on Google's unpredictable search algorithm for traffic and revenue and [2] the potential for AI to disintermediate its core performance marketing business model. | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -42% | ||
| Attractive yieldFCF Yield is 15% | ||
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Digital Advertising, and Markets & Betting. Themes include Gaming Content & Platforms, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -42% |
| Attractive yieldFCF Yield is 15% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Digital Advertising, and Markets & Betting. Themes include Gaming Content & Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -108% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 102x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.1% |
| Key risksGAMB key risks include [1] its heavy dependence on Google's unpredictable search algorithm for traffic and revenue and [2] the potential for AI to disintermediate its core performance marketing business model. |
Valuation, Metrics & Events
GAMB Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
1. Gambling.com Group (GAMB) reported a significant revenue miss for Q3 2025.
On November 13, 2025, Gambling.com announced its third-quarter 2025 financial results, reporting revenue of $38.98 million, which fell short of the analysts' consensus estimate of $41.25 million by 5.5%. This revenue shortfall was a major factor contributing to negative investor sentiment.
2. The company experienced a net loss in Q3 2025, contrasting with a profit in the prior year.
Despite beating earnings per share (EPS) estimates, Gambling.com Group reported a net loss of $3.86 million for the third quarter of 2025, compared to a net income of $8.51 million in the same period of the previous year. This shift to a net loss was primarily attributed to increased sales, marketing, and technology expenses, as well as fair value movements on contingent consideration.
3. Gambling.com Group lowered its full-year 2025 financial guidance.
Following the Q3 results, the company revised its annual revenue forecast downward to approximately $165 million, a reduction from its earlier guidance of $171 million to $175 million. Adjusted EBITDA expectations also saw a decrease of 7%. This downward revision signaled concerns about future performance and growth prospects.
4. Challenges in the core marketing business due to Google search ranking impacts.
The company's marketing revenue remained flat, and new depositing customers (NDCs) decreased by 13% year-over-year. This was largely due to persistent low-quality Google search rankings, particularly in markets outside of the U.S., impacting their primary SEO-driven business. Concerns over potential Google search algorithm updates in December also weighed on investor confidence.
5. Analyst downgrades and price target reductions followed the Q3 earnings report.
In the wake of the mixed third-quarter results, several analysts downgraded their ratings or reduced their price targets for GAMB stock. For example, Texas Capital Securities lowered its target price from $14 to $9, citing weaker-than-expected revenue and EBITDA. Other firms like Jefferies, Macquarie, Stifel, and Truist Securities also adjusted their price targets downward on November 14, 2025. This collective reassessment by analysts contributed to the stock's decline.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GAMB Return | � | � | -10% | 7% | 44% | -61% | � |
| Peers Return | � | � | -49% | 66% | 54% | 3% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| GAMB Win Rate | � | 40% | 42% | 67% | 50% | 33% | |
| Peers Win Rate | � | 33% | 32% | 57% | 58% | 62% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| GAMB Max Drawdown | � | � | -34% | -4% | -22% | -67% | |
| Peers Max Drawdown | � | � | -61% | -14% | -21% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: GENI, FLUT, DKNG, PENN, RSI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)
How Low Can It Go
| Event | GAMB | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -59.8% | -25.4% |
| % Gain to Breakeven | 148.5% | 34.1% |
| Time to Breakeven | 847 days | 464 days |
Compare to CHDN, BYD, MCRI, FLL, LVS
In The Past
Gambling.com's stock fell -59.8% during the 2022 Inflation Shock from a high on 11/1/2021. A -59.8% loss requires a 148.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
| Title | Topic | |
|---|---|---|
| DASHBOARDS | ||
| Can Gambling.com Stock Hold Up When Markets Turn? | Return |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select past ideas related to GAMB. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 12.8% | 12.8% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.4% | 5.4% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.2% | 3.2% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 15.5% | 15.5% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 15.3% | 15.3% | -1.6% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 12.8% | 12.8% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.4% | 5.4% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.2% | 3.2% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 15.5% | 15.5% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 15.3% | 15.3% | -1.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Gambling.com
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 16.78 |
| Mkt Cap | 2.4 |
| Rev LTM | 3,261 |
| Op Inc LTM | 53 |
| FCF LTM | 59 |
| FCF 3Y Avg | 13 |
| CFO LTM | 313 |
| CFO 3Y Avg | 63 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.8% |
| Rev Chg 3Y Avg | 24.1% |
| Rev Chg Q | 18.3% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Mgn LTM | 3.5% |
| Op Mgn 3Y Avg | -1.3% |
| QoQ Delta Op Mgn LTM | -0.8% |
| CFO/Rev LTM | 11.8% |
| CFO/Rev 3Y Avg | 6.2% |
| FCF/Rev LTM | 6.6% |
| FCF/Rev 3Y Avg | 0.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.4 |
| P/S | 2.2 |
| P/EBIT | 5.1 |
| P/E | -14.9 |
| P/CFO | 21.7 |
| Total Yield | -1.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -1.7% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 13.4% |
| 3M Rtn | -21.1% |
| 6M Rtn | -15.4% |
| 12M Rtn | -18.4% |
| 3Y Rtn | 112.4% |
| 1M Excs Rtn | 12.6% |
| 3M Excs Rtn | -23.5% |
| 6M Excs Rtn | -27.8% |
| 12M Excs Rtn | -29.2% |
| 3Y Excs Rtn | 22.2% |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11132025 | 6-K 9/30/2025 |
| 6302025 | 8142025 | 6-K 6/30/2025 |
| 3312025 | 5152025 | 6-K 3/31/2025 |
| 12312024 | 3202025 | 20-F 12/31/2024 |
| 9302024 | 11142024 | 6-K 9/30/2024 |
| 6302024 | 8152024 | 6-K 6/30/2024 |
| 3312024 | 5162024 | 6-K 3/31/2024 |
| 12312023 | 3212024 | 20-F 12/31/2023 |
| 9302023 | 11152023 | 6-K 9/30/2023 |
| 6302023 | 8172023 | 6-K 6/30/2023 |
| 3312023 | 5182023 | 6-K 3/31/2023 |
| 12312022 | 3232023 | 20-F 12/31/2022 |
| 9302022 | 11172022 | 6-K 9/30/2022 |
| 6302022 | 8292022 | 6-K 6/30/2022 |
| 3312022 | 5312022 | 6-K 3/31/2022 |
| 12312021 | 3252022 | 20-F 12/31/2021 |
External Quote Links
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