Kambi posts higher Q3 revenue and profit despite Brazil ban and World Cup lull

Kambi Group reported higher revenue and profit for the third quarter, a result the sportsbook supplier is presenting as evidence of resilience in the face of two headwinds: Brazil's September crackdown on online gambling and a wider market slowdown that followed the World Cup.

The Brazilian development has been the central concern for suppliers with exposure to Latin America. In September, authorities announced a ban on online gambling, a move that caught international operators and their technology partners off guard given how quickly the country had become one of the region's most closely watched growth markets. Kambi, like a number of its peers, had identified Latin America — and Brazil in particular — as a priority for expansion.

Despite that setback, the company has said it has regained confidence that the prohibition will not weigh heavily on its performance in 2026. That position rests on the improved third-quarter figures, which showed gains in both revenue and profit even as the Brazilian market was disrupted.

The quarter was also shaped by a broader cooling of betting activity after the World Cup, a pattern that has affected operators and suppliers across the industry as the post-tournament spike in wagering faded. Kambi's ability to post sequential improvement in revenue and profit during that period is the basis for its more upbeat assessment of the road ahead.

The company has not wavered from its view that the Brazilian market remains significant over the longer term, and it continues to treat the region as a strategic priority. For now, the third-quarter numbers give it a basis for arguing that the September ban is a manageable obstacle rather than a fundamental threat to its growth plans.