gamblingcom group limited gamb a leading provider of digital marketing services for the global online gambling industry has announced its recordbreaking financial results for the first quarter of 2023 the company reported a 36 increase in revenue to 267 million with net income rising by 47 to 66 million and adjusted ebitda increasing by 49 to 107 million as a result gamblingcom group has raised its guidance for the full year now expecting revenue between 95 million and 99 million and adjusted ebitda between 33 million and 37 million charles gillespie the ceo and cofounder of gamblingcom group expressed satisfaction with the companys performance highlighting its industryleading organic revenue growth profitability and cash generation gillespie attributed the success to the companys execution of north american growth initiatives and its ability to generate growth in more established markets the company experienced a 31 increase in new depositing customers over the quarter compared to the same period in the previous year contributing to the overall revenue growth the north american market played a significant role in the companys success with revenue in the region increasing by 33 yearonyear yoy to 141 million despite the blockbuster launch of sports betting in new york during the same period last year gamblingcom group still achieved noteworthy growth the company also performed well in the uk and ireland generating recordbreaking quarterly revenue for the fifth consecutive quarter amounting to 85 million for q1 2023 representing a 36 yoy increase additionally revenue from other parts of europe and the rest of the world grew by gamblingcom group reports it has established itself as a leader in organic revenue growth compared to its publiclytraded peers the companys proprietary technology has been instrumental in driving growth in established markets and capitalizing on the highgrowth potential of the north american market the strong start to the year has prompted the company to raise its outlook for 2023 expecting another year of profitable organic growth and record financial results in addition to its financial success gamblingcom group achieved several other milestones in the first quarter of 2023 the company expanded its operations to ohio and massachusetts increasing its market presence it also formed a strategic media partnership with gannett co inc the publisher of usa today which is expected to enhance its reach and brand awareness elias mark the cfo of gamblingcom group emphasized the companys focus on efficiency and operating leverage which enabled an expansion of the adjusted ebitda margin and a 352 yearoveryear growth in free cash flow the strong financial position of the company provides flexibility for future investments and strategic transactions click here to learn more this post contains sponsored advertising content this content is for informational purposes only and not intended to be investing advice