Kambi CEO Werner Becher said Brazil’s government had contributed to the growth of the country’s black market. He described the possibility of a regulated market closing overnight as disappointing and said Kambi was roughly a year away from using AI for all trading.
The comments flag regulatory uncertainty in Brazil for gambling suppliers and operators.
Quarter ended 30 June 2026
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Kambi reported adjusted EBITA of €7.9 million for Q3 2026, up from €3 million a year earlier, and net profit of €3.4 million versus €1 million. The company said revenue rose 23%, while network betting stakes increased 3%; it attributed growth to World Cup matches, new partners and currency movements. Kambi now expects full-year adjusted EBITA of about €26 million.
Kambi published its quarterly figures for Q3 2026 this week. Adjusted EBITA, which leaves out acquisition-related amortisation among other items, came to €7.9m. In the same quarter of 2025, that measure stood at €3m. Net profit reached €3.4m, compared with €1m a year before.
Kambi expects its AI-powered trading technology to generate 18 million additional accepted bets this year, CEO Werner Becher said on an earnings call. Becher said nearly 60% of bets handled by the system are accepted with no delay, and the company aims to process 90% of bets through AI by year-end. He also reported a 32% year-on-year fall in NBA bet rejections after the system’s rollout in basketball.
Kambi reported third-quarter revenue of €46m, up 23% from €37.4m a year earlier, and said the Brazilian online betting ban would have a limited financial effect on its 2026 performance. Year-to-date revenue increased 13% to €135.4m, with the company citing partner diversification, including agreements with Ontario Lottery and Gaming Corporation and Pari Mutuel Urbain, as revenue support.
Kambi said the ban on online betting in Brazil, announced in September, will not significantly affect its performance in 2026. The company reported higher third-quarter revenue, which rose 23% year on year from €37.4m in the third quarter of 2025 to €46m.
Kambi reported third-quarter 2026 revenue of €46m, up 23% year on year, and adjusted EBITA of €7.9m, up 161%. The company lifted its full-year adjusted EBITA guidance to around €26m from a previous range of €23m to €27m, according to its results announcement.
Kambi reported Q3 2026 revenue of €46 million, up 23% year on year, and adjusted EBITA of €7.9 million, compared with €3 million a year earlier. The company raised its full-year adjusted EBITA guidance to roughly €26 million. CEO Werner Becher attributed performance to business diversification, cost discipline and favourable currency movements.
