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Kambi Group reported higher revenue and stronger profitability in Q1 2026, then followed that with a major Canada sports betting agreement covering much of the country.
Good to Know
Kambi entered 2026 with a cleaner cost base and better margins. Q1 revenue reached €43.5 million, up 4.9% from the same quarter last year, while adjusted EBITDA rose 63.5% to €5.7 million.
The operating profit margin also improved from 2% to 9.7%. At the same time, operating expenses fell 2.1% year over year, giving the sports betting supplier a stronger platform for its next round of deals.
Kambi also pointed to several commercial wins during the quarter. Those included a deal with Pari Mutuel Urbain in France, new Odds Feed+ traction through ComeOn Group, wider content delivery to Hard Rock Bet, and launches with Coolbet and LeoVegas.
Kambi CEO Werner Becher said:
“Q1 saw us post an improved financial performance with revenue growth aided by our commercial momentum alongside continued cost discipline, helping to deliver increased profitability.
“This morning’s signing of the Canadian lotteries alongside those of PMU and OLG underscores our reputation among publicly owned and run organizations and highlights the benefits of our regulated market strategy with Kambi, undoubtedly the industry’s trusted sports betting partner.”
Canada Deal Covers Seven Provinces
Kambi then added one of its largest regulated market wins in Canada. Atlantic Lottery Corporation and British Columbia Lottery Corporation selected the company to provide a single sportsbook solution for seven of Canada 10 provinces.
The agreement covers online and retail betting in British Columbia, Saskatchewan, and Manitoba through BCLC. It also covers Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador through ALC.
ALC recently ran the Request for Proposal process to appoint one supplier for the shared Canada sportsbook project. Scott Eagles, director of sports betting at ALC, said the collaboration represents an “important step in how provincial lotteries work together” and deliver sports betting to players.
Becher said:
“Being selected to power this multi-province sportsbook solution is a strong endorsement of Kambi’s trusted technology, regulatory expertise, and proven ability to deliver at scale.
“ALC and BCLC have set out a clear vision for a single, consistent sportsbook, and we are proud to support its next phase with our high-performance, compliant, and proven Turnkey Sportsbook.”
Kambi already operates in Ontario and expects to add Alberta in July. Once the new lottery agreement goes live, the Europe-based supplier said it will power sports betting in nine Canadian provinces.
Becher also linked the win to the company focus on regulated betting markets. He said:
“It’s not always easy to be in the white side of a business with all the tax hits and these other things, but it also provides sustainability for a business in some ways.
“So clearly, the strategy of Kambi being one of very, very few B2B sports betting operators, while still many are only focused on black/grey markets, our long-term strategy to fully focus on regulated markets.
“We would have no chance to win one of these deals, having still a big grey market/market footprint. So this is definitely something which is very important for us going forward that we have done our homework already.”