Kambi cuts 2025 earnings guidance after Q3 revenue falls 13%

Kambi chief executive Werner Becher said the supplier reduced its full-year earnings forecast after Q3 2025 revenue fell 13% year on year to €37.4m and adjusted EBITA dropped 32% to €3.4m. He said the delayed Ontario Lottery & Gaming launch would shift revenue recognition from 2025 to January, with a single-digit million impact. Kambi also plans to launch its PAM solution in Nevada by the end of H1 2026.