(AsiaGameHub) –   Gambling.com Group experienced a share price drop of more than 53% in the last five days after unveiling its Q1 2026 financial results and announcing significant restructuring initiatives.

The firm’s stock fell steeply after releasing its quarterly earnings on May 14, dropping from over $5 earlier that week to roughly $2.44 in the most recent trading update. In the hours immediately following the result announcement, shares declined by more than 40%.

Gambling.com reported that its total Q1 revenue rose to approximately $40.4 million year-over-year, while its adjusted EBITDA fell 43% to $9 million. This decline was due to weaker organic search performance and increasing operating expenses.

As a result of these losses, Gambling.com reduced its Q1 guidance and also unveiled an AI-centric workforce reduction program, with expected annual savings of around $12 million—roughly an 8% reduction in total current costs compared to pre-program annual cost levels.

According to Gambling.com’s newly appointed CEO Kevin McCrystle, the restructuring aims to help the company get back on track for “long-term sustained high-margin revenue growth” amid shifting search engine traffic trends, regulatory changes impacting funding levels, and to enhance overall service quality.

The company now projects full-year revenue between $165 million and $170 million, down from its previous guidance of $170 million to $180 million. Its adjusted EBITDA guidance was also cut to a range of $45 million to $50 million.