Sports betting technology provider Kambi Sports Solutions insists everything is fine despite revenue rising and profit plunging in the second quarter of 2017.

The Malta-based Kambi released its Q2 earnings report on Wednesday, which showed revenue improving 3% year-on-year to €14.1m in the three months ending June 30. Despite that rise, operating profit fell from €2m in Q2 2016 to just €300k this past quarter, while after-tax profits fell from €1.8m to just €100k.

Kambi blamed a good chunk of the earnings shortfall on the renewal of its contract with UK-listed operator 888 Holdings’ sports betting division 888sport. The parties have just announced a multi-year extension to their relationship, which began four years ago and has seen 888’s sportsbook revenue grow more than five-fold over that span.

Kambi’s new deal with 888sport backdates its commercial terms to January 1, resulting in a €1m adjustment to Kambi’s revenue and earnings over the first half of 2017. Despite this impact, Kambi insists the deal “is in the long-term interest of Kambi’s growth” as it secures multi-year revenue from a “key customer.”