v3.26.1
OPERATING EXPENSES
 6 Months Ended
Jun. 30, 2026
Material income and expense [abstract]  
OPERATING EXPENSES OPERATING EXPENSES
Sales and marketing expenses
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
People costs7,482 8,491 16,113 16,638 
Restructuring costs (1)
1,648 — 1,648 — 
Employees' bonuses related to acquisition (Note 5)238 347 399 347 
External marketing expenses3,852 2,367 7,464 4,842 
Legal and consultancy fees188 92 273 183 
External content648 786 1,549 1,518 
Amortization of acquired intangible assets1,275 1,653 2,970 3,863 
Share-based payment expense119 419 442 790 
Software and subscriptions170 730 554 1,015 
Hosting and website content114 162 199 297 
Other406 339 719 592 
Total sales and marketing expenses16,140 15,386 32,330 30,085 
(1) Restructuring costs relate to severance costs arising from the Company’s strategic restructure to reduce its workforce for the three and six months ended June 30, 2026, of which $653 was settled as of June 30, 2026.

Presentation of ‘External marketing expenses’ and ‘Other’ sales and marketing expenses for the comparative periods were adjusted to consistently reflect more disaggregated classification in the current period. This resulted in a reclassification from ‘External Marketing Expenses’ to ‘Legal and Consultancy’ of $92 and $183 and a reclassification of ‘Other’ to ‘Hosting and website content’ of $162 and $297 for the three and six months ended June 30, 2025, respectively.

Technology expenses
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
People costs2,948 3,291 6,085 6,392 
Restructuring costs (1)
744 — 744 — 
Employees' bonuses related to acquisition (Note 5)144 243 263 243 
Amortization of development costs720 467 1,411 835 
Amortization of acquired technology and software893 797 1,785 1,598 
Software and subscriptions1,611 582 2,649 1,298 
Share-based payment expense88 98 200 160 
Hosting costs460 241 772 563 
Consultancy fees180 276 439 500 
Other126 146 224 275 
Total technology expenses7,914 6,141 14,572 11,864 
(1) Restructuring costs relate to severance costs arising from the Company’s strategic restructure to reduce its workforce for the three and six months ended June 30, 2026, of which $288 was settled as of June 30, 2026.

Presentation of ‘Other’ technology expenses for the comparative periods was adjusted to consistently reflect more disaggregated classification in the current period. This resulted in a reclassification from ‘Other’ to ‘Consultancy fees’ of $276 and $500, for the three and six months ended June 30, 2025, respectively.
General and administrative expenses
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
People costs3,516 3,723 7,253 7,179 
Restructuring costs (1)
831 — 907 — 
Share-based payment and related expenses1,677 1,705 2,805 2,681 
Legal and consultancy fees1,507 1,008 2,811 2,376 
Acquisition related costs— 378 — 703 
Insurance189 106 380 215 
Amortization of right-of-use assets274 299 639 570 
Depreciation of property and equipment174 157 347 283 
Software and subscriptions451 425 1,008 794 
Other396 621 1,021 1,230 
Total general and administrative expenses9,015 8,422 17,171 16,031 
(1) Restructuring costs relate to severance costs and associated legal fees arising from the Company’s strategic restructure to reduce its workforce for the three and six months ended June 30, 2026, of which $169 was settled as of June 30, 2026.

Fair value movement on contingent consideration
The fair value movement on contingent consideration for the three and six months ended June 30, 2025 is directly associated with the OddsJam Acquisition and is driven by changes in circumstances, rather than by new information about conditions that existed at the OddsJam Acquisition closing date. These changes primarily reflect Odds Holdings’ performance during the period, which exceeded initial expectations as a result of synergies realized following the OddsJam Acquisition which in turn generated post-acquisition revenue growth and cost optimization.