Key Highlights

  • Second-quarter revenue was $37.8 million with adjusted EBITDA of $7.7 million.
  • Full-year 2026 guidance was reiterated on 13 August.
  • The company renamed itself Grandstand on 24 September 2026.
  • Trailing revenue is $163.42 million, up 10.7%, with a $36.55 million net loss.

Grandstand Limited (NASDAQ:GRSD), formerly Gambling.com Group, changed its name on 24 September 2026 and describes itself as the intelligence layer of sports, gaming and entertainment. The company has a market value of about $52 million against trailing revenue of about $163 million. The focus is on fundamentals and the identity change.

Latest Company Context

Grandstand provides marketing and sports data services to the gambling industry across North America, the UK, Ireland and Europe, including digital marketing, data subscriptions for iGaming and social casino products, and sports betting and fantasy data under the OddsJam, OpticOdds and RotoWire brands. On 13 August 2026 it reported second-quarter revenue of $37.8 million and adjusted EBITDA of $7.7 million, and reiterated its full-year 2026 guidance, according to the news listing consulted. The same day it launched Rollcard, a high-limit debit card for sports betting, casino and prediction-market use. Trailing-twelve-month revenue is listed at $163.42 million, up 10.7%, while net income is a loss of $36.55 million (EPS of minus $1.03), which may reflect non-cash charges;. The company listed on Nasdaq in July 2021.

Key Business Drivers

Key drivers include the shift from affiliate-style marketing towards recurring data subscriptions, the integration of the OddsJam and OpticOdds acquisitions, and regulatory developments in US sports betting and prediction markets. A growing data-subscription base could improve revenue visibility, though the proportion of recurring revenue should be confirmed from company disclosures. The Rollcard launch broadens the product set but may carry execution and compliance risk. On the analyst side, eight Buy ratings carry an average 12-month target of $4.43, with Texas Capital lowering its target to $4 from $5.

What Investors Should Watch

Investors may watch the third-quarter results, expected later in the year, for whether the company continues to meet its reiterated full-year guidance. The balance sheet, including cash, debt and any impairment, may be a focus given the reported net loss. Other items to monitor include early traction for Rollcard, the effect of the rebrand on customer perception, and any changes to US state-level betting rules. The wide gap between analyst targets and the market price could also prompt investors to scrutinise the assumptions behind forecasts.

A New Identity and a Sizeable Gap Between Value and Revenue

Grandstand is in transition, combining a new identity and product launches with a sizeable gap between its market value and its revenue. Delivery on reiterated 2026 guidance is the practical test of the rebrand.