In an impactful move amidst a burgeoning financial landscape, Gambling.com Group has secured a pivotal financial arrangement solidifying the company’s fiscal fortitude. The comprehensive agreement involves a dual-faceted credit arrangement with the reputable Wells Fargo Bank, broken into two equal parts: a $25.0 million revolving credit facility and a $25.0 million term loan facility. This strategic financial package is set to reinforce the robustness of Gambling.com Group’s balance sheet and provide a bastion for growth.
The credit facility stands on a stable maturity plan with a sunset date of March 19, 2027. Moreover, the contract holds a clause subject to consent, which may allow for an incremental boost to the credit line, potentially augmenting it by an additional $10.0 million in the aggregate. This built-in expansion capability reflects both entities’ confidence in the prospective scalability of their cooperative financial engagement.
With an intent to deploy this newly acquired financial muscle, Gambling.com Group anticipates leveraging the credit for a variety of corporate undertakings. Primarily, the funds will serve general corporate necessities and enable the settlement of deferred consideration. Notably, the credit is also viewed as a war chest to bankroll potential growth opportunities that the group vigilantly scans the horizon for.
Amid such developments, Elias Mark, the Chief Financial Officer of Gambling.com Group, exudes confidence in his firm’s operational prowess. “We have established a track record of successful execution on our growth initiatives that are delivering consistently strong revenue, Adjusted EBITDA, and cash flow growth,” Mark elucidates. The leap into this new credit facility, he articulates, amplifies the company’s liquidity and financial elasticity. Mark further accentuates that this newfound capital mobility empowers the group to pursue expansive strategies – both organic and inorganic – that can propel the business to greater heights and in turn, adjoin incremental value to shareholder investments.
The timing of confirming this financial muscle flex is instrumental, prefacing Gambling.com Group’s publication of its full-year results. The financial community and shareholders alike await the 2023 figures with bated breath. These results, imbued with much anticipation, are slated for release tomorrow, March 21.
Riding the wave of a positive financial performance, Gambling.com Group’s last quarterly report painted a picture of victory over revenue expectations. The period in question saw the company clinch a revenue tally of $23.5 million, marking a sterling 19% incline compared to the third quarter of the previous fiscal year.
Analyzing the year-to-date data, encompassing the nine months leading up to September, one witnesses the Group’s revenue growth narrative unfolding across multiple fronts. A whopping 38% uptick, amounting to $76.1 million, was noted for this period, with projections estimating a robust 30% growth for the annual figure.
Despite a slight dip in adjusted EBITDA during Q3, the annual forecast remains optimistic, with a predicted 50% surge in this critical financial metric for the year 2023. To further bolster investor confidence, the nine-month window leading to September showcased a 52% hike in adjusted EBITDA, scaling to a substantial $26.1 million.
This strategic financial maneuver by Gambling.com Group, fortified by the support of a stalwart like Wells Fargo Bank, illustrates the dynamic and progressive financial planning at the heart of the organization. It bespeaks the Group’s commitment to sustainability, growth, and shareholder value. As the financial figures for the full year loom on the horizon, the optimism echoed by the chief financial architect of the Group resonates with the promise of a robust financial future.
