Betting technology provider Kambi reported its Q4 earnings on Wednesday, indicating a decline in revenue. The company remains positive about future opportunities; however, with investment in AI-trading expected to drive future growth. 

In Q4, the company generated €42.7 million ($50.34m), a 3.9% decrease from last year’s €44.5 million ($52.5m). 

For the year, Kambi reported a 8.2% revenue drop, from €176.4 million ($208m) in 2024 to €162 million ($191m) in 2025. 

Nevertheless, Werner Becher, CEO of Kambi Group, commented, “I take confidence from how we ended the year, displaying signs that we are now turning the corner towards a period of gradual growth.”

There will be concerns over Adjusted EBITA for the year falling from €25.3 million ($29.8m) to €15.5 million ($18.3m). This led to a drastic reduction in operating profit, down from €18.8 million ($22.17m) in 2024 to €8.1 million ($9.55m) in 2025.  

Betting on AI Trading 

The company is investing in AI-trading. AI pricing and trading technology now prices nearly half of all bets across Kambi’s network, and this is set to expand in 2026. The company plans for this year’s World Cup to be fully AI-traded. 

Becher stated, “As one of the world’s largest sportsbooks, Kambi remains uniquely positioned to utilise the advantages of AI through our vast liquidity and data set, enabling our partners to compete in highly competitive markets with more accurate pricing, a more expansive offering and improved operator trading margins.”

Management set 2026 adjusted EBITA guidance at €20 million to €25 million, up from €17.6 million delivered in 2025. Following the release of the results, Kambi’s share price rose from SEK104 to SEK108.8, although it remains down by over 17% since the start of the year. 

Becher cited concerns about a tax increase in Colombia, which could harm profits this year. If there is no new sports betting tax then he said the company could meet its upper guidance for the year. 

New Partners Offer New Hope

The company has acquired new partners, most recently signing deals with Come On Group, Coolbet, FDJ UNITED and Superbet Group. These deals add to its agreement with Ontario Lottery & Gaming. 

Kambi will provide partners with its Odds Feed+, which includes its dedicated esports division Abios. 

Becher said the newest partnership with Come On “reflects the confidence leading operators place in Kambi’s odds service.”

Other partners of the company, which spun off from Unibet in 2010, include LiveScore Bet, Bally’s, Rush Street Interactive, and LeoVegas. 

Esports betting is one of the company’s main focal points, with Becher saying last year that it was the fifth-largest sport across the global network based on turnover.