GiG Software Third Quarter Revenue Falls, Profit Shrinks

Malta-based gaming technology company GiG Software saw its revenue fall 12 percent year on year in the third quarter of 2026. Revenue for the three-month period dropped from 9.7 million euros to 8.5 million euros. Adjusted EBITDA fell 33 percent to 0.8 million euros, while the net loss grew 50 percent.

The company reduced operating expenses during the period, but the overall picture did not change. The main decrease in expenses came from personnel costs, which fell by 1 million euros after technical staff were laid off earlier in the year. However, these savings were not enough to stop the losses in earnings and profit.

The main cause of the revenue decline was customer losses. The bankruptcy of Richmond Atlantic was among the factors. A decline in setup fees was another factor that pulled revenue down. Recurring revenue, by contrast, rose slightly from 7.0 million euros to 7.1 million euros.

The company's focus is on the long term. It expects a major impact from its majority stake in 888Africa, valued at 16.4 million euros, which was completed in August. GiG Software projects that its annual revenue for 2027 could roughly double compared with this year's expectation, and that adjusted EBITDA could reach nearly four times the current level. Chairman and CEO Richard Carter said the group's cash and cash equivalents rose to 8.0 million euros.