Gambling.com Group Limited

Greetings and welcome to the Gambling.com Group third quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Should anyone require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Peter McGough, Head of Investor Relations. Thank you. You may begin.

Hello, everyone, and welcome to Gambling.com Group's third quarter 2024 results call. I am Peter McGough, Senior VP of Investor Relations and Capital Markets. I am joined by Charles Gillespie, Gambling.com Group's co-founder and Chief Executive Officer and Elias Mark, Chief Financial Officer. This call is being webcast live through the Investor Relations section of our website at Gambling.com forward slash corporate forward slash investors, and a downloadable version of the presentation is available there as well. A webcast replay will be available on the website after the conclusion of this call. You may also contact investor relations support by emailing investors at gdcgroup.com. I would like to remind you that the information contained in this conference call, including any financial and related guidance to be provided, consists of forward-looking statements as defined by securities laws. These statements are based on information currently available to us and involve risks and uncertainties that could cause actual future results, performance, and business prospects and opportunities to differ materially from those expressed in or implied by these statements. Some important factors that could cause such differences are discussed in the risk factor section of Gambling.com Group's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements are made, and the company assumes no obligation to update forward-looking statements to reflect actual results. Changes in assumptions or changes in other factors affecting forward-looking information accept to the extent required by applicable securities laws. During the call, there will also be a discussion of non-IFRS financial measures. A description of these non-IFRS measures as included in the press release issued earlier this morning. And reconciliations of these non-IFRS financial measures to their most directly comparable IFRS measures are included in the appendix to the presentation and press release, both of which are available in the investors tab of our website. I'll now turn the call over to Charles.

Good morning. Thank you for joining our call. Gamma.com Group delivered stronger than expected performance across all of our operating regions, leading to record third quarter revenue of $32.1 million and record adjusted EBITDA of $12.6 million, representing year-over-year growth of 37% and 108% respectively. The company's diversified market exposure and thoughtful casino-first allocation of capital set the stage for this performance, and our first-rate team's relentless focus on execution drove these results. Our global portfolio of websites has never been better at driving high-intent traffic to our online operator customer base. iGaming revenue continued its strong growth trajectory across all our operating regions, while North America overall held flat year-over-year despite challenging comparisons. to the third quarter in 2023. Free cash flow reached a new record of 14.2 million in Q3. The third quarter results underscore Gamma.com Group's strong global position within the online gambling ecosystem. We remain beneficiaries of the long-term trend toward digitization and entertainment and advertising. While these macro-level tailwinds help everyone in our sector, It is the leadership, technology, and people at gambling.com group, which set us apart from our peers and have resulted in yet another quarter of best in class performance. I want to remind investors of our proven ability to use our assets, technology, and process to organically grow revenue and profitability and gain market share with industry leading capital efficiency. Successful ramps in European markets like Italy exemplify this approach, and we are confident we will continue to win with this playbook on both sides of the Atlantic. In North America, New Jersey, and Pennsylvania are perfect examples of markets where we have gained substantial market share despite not being present at launch. Our showcase brands like Gamma.com and Bookies.com showed their strength in the quarter. We are confident that casinos.com will continue its steady march forward and help us gain additional market share with another premier brand, putting even more distance between us and our competitors. For the better part of 20 years, our core strategy has consistently prioritized the following in this order. Number one, organic growth in iGaming across regulated markets. Number two, Organic growth in sports betting across regulated markets, which also offer iGaming. And number three, highly targeted acquisition opportunities where we can gain scale, new market expertise or technology. The singular and quite significant exception is US sports betting. In a powerhouse display of our ability to execute and drive market share in the most contested and strategic market in the world, we grew our U.S. sports betting business from a few million to over 60 million in just a few years. We did not, however, lose sight of our core priorities, and now that growth in North America has temporarily slowed, our assets outside the U.S. have taken back the baton and continue to drive us forward. Our growth target of achieving 100 million in adjusted EBITDA remains unchanged. Our growth drivers, which will help us achieve this next milestone, are continued market share growth, further regulation of both iGaming and online sports betting in the US, such as the recently approved ballot measure in Missouri for sports betting, as well as in other key international markets. continued international expansion in both our existing and new markets, and ultimately targeted M&A that broadens our footprint in the online gambling ecosystem. I'm confident that with the right accretive M&A transactions, we may even be able to achieve the target earlier than our own initial expectations. Our confidence in our near and long-term outlook is highlighted by the brisk pace of share repurchases activity we've undertaken over the last two years. as we repurchased over 8% of our outstanding shares during that time. Reflecting our strong year-to-day performance, we raised guidance with the midpoints of our updated range, indicating revenue growth of 16% and adjusted EBITDA growth of 29%. Our balance sheet and cash flow position us to continue repurchasing shares and pursuing a creative M&A. Now let me turn the call over to Elias for a review of the third quarter financial highlights. and details on our revised four-year outlook.