Gambling.com Group Ltd

GAMB remains in a Stage 4 decline with confirmed lower highs and lower lows, anchoring a bearish medium- and long-term bias. Price trades below all major EMAs and is oversold, making immediate selling unfavorable. We will defer trimming until rallies into the declining EMA stack or prior support-turned-resistance zones provide a more controlled sell opportunity.

• ↑Sports data services revenue surged 440% YoY to $11.8 M, driving high margins
• ↑Non-SEO channels exceed 50% of revenue, lowering search‐traffic risk
• ↓Adjusted EBITDA margins declined as sales & marketing expenses rose