Why Gambling.com's Stock Is Getting Crushed Today

Gambling.com Group’s GAMB stock traded down more than 20% in Thursday’s session after the company released its earnings report before the open. Gambling.com reported revenue of $23.5 million in Q3, up 19% from the same period last year. 

The earnings report was better than expectations, but investors were still evidently unimpressed. Most analysts covering the stock are bullish, with Benzinga's analyst ratings data showing a consensus Buy rating on GAMB.

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“Our third quarter results highlight our consistent performance driven by robust organic growth in North America,” Charles Gillespie, chief executive officer and co-founder of Gambling.com Group, said. “Even in what is traditionally a seasonally slow quarter, we grew new depositing customers 26% to surpass 86,000 which contributed to 19% revenue growth to $23.5 million, Adjusted EBITDA of $6.1 million and Free Cash Flow of $1.6 million.”

The company also highlighted the launch of its new Casinos.com site in the previous quarter, as well as launching operations in Kentucky. 

Price Action: Gambling.com’s stock was trading 22.22% lower at $10.61 at the time of publication Thursday. Despite the sharp drop in share price, Gambling.com shares are still up over 15% YTD.

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