Gambling.com Group Ltd Files 20-F Annual Report for FY 2023

TL;DR

<b>Gambling.com Group Ltd has submitted its 20-F annual report detailing financial performance and key equity components for the fiscal year 2023.</b>

AI Summary

Gambling.com Group Ltd (GAMB) filed a Foreign Annual Report (20-F) with the SEC on March 21, 2024. Gambling.com Group Ltd filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial statement elements such as Share Capital, Capital Reserve, Treasury Shares, Share Option and Warrants Reserve, Foreign Exchange Translation Deficit, and Retained Earnings are detailed for the reporting period. Comparative data for the fiscal years 2020, 2021, and 2022 are also included. Subsidiaries including GDCMediaLimited, GDCMaltaLimited, GDCAmericaInc, and RotoWireSportsInc are mentioned in relation to the reporting period.

Why It Matters

For investors and stakeholders tracking Gambling.com Group Ltd, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial position and equity structure as of December 31, 2023, which is crucial for investors to assess the company's stability and growth potential. The inclusion of comparative data from previous years allows for trend analysis and a better understanding of the company's financial trajectory and operational history.

Risk Assessment

Risk Level: low — Gambling.com Group Ltd shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate negative news or significant changes, indicating a stable reporting cycle.

Analyst Insight

Investors should review the detailed financial statements and notes within the 20-F filing to understand the company's performance and equity changes for FY 2023.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Conformed period of report)
• 2024-03-21 — Filing Date (Filed as of date)

Key Players & Entities

• Gambling.com Group Ltd (company) — Filer of the 20-F report
• 2023-12-31 (date) — Conformed period of report
• 2024-03-21 (date) — Filed as of date
• GDCMediaLimited (company) — Subsidiary mentioned
• GDCMaltaLimited (company) — Subsidiary mentioned
• GDCAmericaInc (company) — Subsidiary mentioned
• RotoWireSportsInc (company) — Subsidiary mentioned

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-03-21: Filing Date — Date the 20-F report was officially submitted to the SEC.

Glossary

20-F

An annual report required by the U.S. Securities and Exchange Commission (SEC) for foreign private issuers. (Provides a comprehensive overview of the company's financial performance and condition for the fiscal year.)

Share Capital

The total amount of capital raised by a company through the issuance of shares. (Indicates the company's funding structure and ownership base.)

Retained Earnings

The cumulative amount of net income that has not been distributed to shareholders as dividends. (Reflects the company's profitability and its ability to reinvest earnings back into the business.)

Filing Documents

• gamb-20231231.htm (20-F) — 3060KB
• exhibit47-sideagreementtos.htm (EX-4.7) — 122KB
• exhibit48-wellsfargo_gambl.htm (EX-4.8) — 1376KB
• exhibit49florida-apaexecut.htm (EX-4.9) — 741KB
• exhibit1212023.htm (EX-12.1) — 11KB
• exhibit1222023.htm (EX-12.2) — 11KB
• exhibit1312023.htm (EX-13.1) — 7KB
• exhibit1322023.htm (EX-13.2) — 7KB
• exhibit1512023.htm (EX-15.1) — 3KB
• exhibit971-clawbackpolicy.htm (EX-97.1) — 36KB
• image_0a.jpg (GRAPHIC) — 8KB
• 0001839799-24-000019.txt (&nbsp;) — 15834KB
• gamb-20231231.xsd (EX-101.SCH) — 133KB
• gamb-20231231_cal.xml (EX-101.CAL) — 101KB
• gamb-20231231_def.xml (EX-101.DEF) — 505KB
• gamb-20231231_lab.xml (EX-101.LAB) — 983KB
• gamb-20231231_pre.xml (EX-101.PRE) — 783KB
• gamb-20231231_htm.xml (XML) — 2117KB

o Item 18 o

Item 17 o Item 18 o If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x TABLE OF CONTENTS Page PRESENTATION OF FINANCIAL AND OTHER INFORMATION 2 SELECTED DEFINITIONS 3 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 4 PART I 5 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 5 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 5 ITEM 3. KEY INFORMATION 5 A. [RESERVED] 5 B. CAPITALIZATION AND INDEBTEDNESS 5 C. REASONS FOR THE OFFER AND USE OF PROCEEDS 5 D. RISK FACTORS 5 ITEM 4. INFORMATION ON THE COMPANY 31 A. HISTORY AND DEVELOPMENT OF THE COMPANY 31 B. BUSINESS OVERVIEW 33 C. ORGANIZATIONAL STRUCTURE 44 D. PROPERTY, PLANT AND EQUIPMENT 45 ITEM 4A. UNRESOLVED STAFF COMMENTS 45 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 46 A. OPERATING RESULTS 46 B. LIQUIDITY AND CAPITAL RESOURCES 60 C. RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ETC. 63 D. TREND INFORMATION 63 E. CRITICAL ACCOUNTING ESTIMATES 63 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 64 A. DIRECTORS AND SENIOR MANAGEMENT 64 B. COMPENSATION 66 C. BOARD PRACTICES 69 D. EMPLOYEES 71 E. SHARE OWNERSHIP 72 F. DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 72 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 72 A. MAJOR SHAREHOLDERS 72 B. RELATED PARTY TRANSACTIONS 73 C. INTERESTS OF EXPERTS AND COUNSEL 74 ITEM 8. FINANCIAL INFORMATION 74 A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 74 B. SIGNIFICANT CHANGES 74 ITEM 9. THE OFFER AND LISTING 74 A. OFFER AND LISTING DETAILS 74 B. PLAN OF DISTRIBUTION 74 C. MARKETS 74 D. SELLING SHAREHOLDERS 74 E. DILUTION 74 F. EXPENSES OF THE ISSUE 74 ITEM 10. ADDITIONAL INFORMATION 74 A. SHARE CAPITAL 74 B. MEMORANDUM AND ARTICLES OF ASSOCIATI

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 85 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 87 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 88 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 88 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 88 A. DISCLOSURE CONTROLS AND PROCEDURES 88 B. MANAGEMENT's ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING 88 C. ATTESTATION REPORT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 89 D. CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING 89 ITEM 16. [RESERVED] 90 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 90 ITEM 16B. CODE OF ETHICS 90 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 90 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARD FOR AUDIT COMMITTEES 91 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 91 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 91 ITEM 16G. CORPORATE GOVERNANCE 91 ITEM 16H. MINE SAFETY DISCLOSURE 92 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 92 ITEM 16J. INSIDER TRADING POLICIES 92 ITEM 16K. CYBERSECURITY 92 PART III 94 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 94 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 94 ITEM 19. EXHIBITS 94 1 Table of Contents PRESENTATION OF FINANCIAL AND OTHER INFORMATION

Financial Statements

Financial Statements Gambling.com Group Limited and its consolidated subsidiaries (the "Company, the "Group," "we," "us, "our" and words of similar references) reports its consolidated financial statements under International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board (the "IASB"), and as adopted by the European Union ("EU"). None of our financial statements were prepared in accordance with accounting principles generally accepted in the United States of America. We maintain our books and records in Euros ("EUR"), the functional currency of the Company. The reporting currency for our financial statements is United States dollars ("USD" or "U.S. dollars"). Unless otherwise noted, the financial information presented herein as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 is stated in U.S. dollars, our reporting currency. All dollar amounts in this annual report are in thousands of USD unless otherwise stated. All references herein to "our financial statements," "our consolidated financial information," and "our consolidated financial statements" are to the consolidated financial statements included elsewhere in this annual report. This financial information should be read in conjunction with "Item 5. Operating and Financial Review and Prospects – Operating Results" and our consolidated financial statements, including the notes thereto, included elsewhere in this annual report. Our fiscal year ends on December 31. References in this annual report to a fiscal year, such as "fiscal year 2023," relate to our fiscal year ended on December 31 of that calendar year. Financial Information in U.S. Dollars The Company's functional currency is Euros. USD has been selected as the reporting currency to ensure comparability with the financial reports of similar entities. You should not construe these translations as representations by us that the amounts actually represent these U

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. CAPITALIZATION AND INDEBTEDNESS Not applicable. C. REASONS FOR THE OFFER AND USE OF PROCEEDS Not applicable. D. RISK FACTORS Investing in our ordinary shares involves a high degree of risk. You should carefully consider the risks and uncertainties described below, together with all of the other information in this annual report, including the section titled "Item 5. Operating and Financial Review and Prospects – Operating Results" and our consolidated financial statements and related notes, before making a decision to invest in our ordinary shares. Our business, financial condition, results of operations, or prospects could also be harmed by risks and uncertainties not currently known to us or that we currently do not believe are material. If any of the risks actually occur, our business, financial condition, results of operations, and prospects could be adversely affected. In that event, the market price of our ordinary shares could decline, and you could lose part or all of your investment. Summary Risk Factors The following is a summary of some of the principal risks we face: We rely on traffic to our websites to grow revenue. Our business could be negatively affected by changes in search engine algorithms and dynamics and the potential of artificial intelligence to disrupt the prevailing paradigm within online searches. The online gambling industry is heavily regulated. Changes to the regulatory framework in the jurisdictions in which we operate could restrict our ability to advertise or could harm our customers' business, which could in turn negatively affect our financial performance. Our industry continues to evolve, which makes it difficult to evaluate our current business and forecast of future prospects. We derive a significant portion of our revenue from our ten largest customers. The loss of one or more of these customers could materially negatively impact our results. We do not have long-ter

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View this 20-F filing on SEC EDGAR