GiG Software Revenue Falls 12% in Third Quarter

B2B iGaming technology provider GiG Software has released its 2026 third quarter financial results. The company's revenue fell 12% to 8.5 million euros (9.5 million dollars). In the same period last year, revenue was recorded at 9.7 million euros.

Adjusted EBITDA also fell 33% to 0.8 million euros. A year earlier, this figure was 1.2 million euros. The EBITDA margin for the period was 9%. The operating loss increased to 4.3 million euros, and the post-tax loss rose to 4.5 million euros.

During the period, the company generated a net cash inflow of 4.5 million euros. At the end of the quarter, its cash balance stood at 8 million euros. GiG Software reiterated that it expects 2026 revenue to be between 45 and 47 million euros and adjusted EBITDA to be between 5.5 and 7 million euros. For 2027, targets were set at revenue of 85 to 90 million euros and adjusted EBITDA of 17 to 19 million euros.

The highlight of the quarter was the acquisition of an 80% stake in Africa-based and fast-growing B2C operator 888AFRICA. The company also formed new partnerships with three operators in Alberta and renewed an existing agreement.

CEO Richard Carter described the 888AFRICA acquisition as a defining moment. Carter said the cost programs continue to deliver savings and that the closure of Spain's Alira is expected to bring additional gains. He said that over a year in which the company restructured its cost structure and completed this transformative acquisition, it has become a stronger and better financed organization.