GiG Software reported a wider operating loss in Q1 2026 as revenue remained largely flat, despite signs of underlying growth and continued expansion efforts.
The B2B platform provider posted an operating loss of €5.0m for the quarter, compared to €4.4m in Q1 2025, while revenue edged slightly lower to €9.0m from €9.1m a year earlier.
Adjusted EBITDA also declined to €0.2m, down from €0.4m, with margins narrowing from 4% to 2%.
Despite the softer headline figures, the Malta-based supplier said underlying revenue growth of 9% year-on-year reflected improving momentum across its core business.
CEO Richard Carter said the company had made a “solid start” to 2026, pointing to new launches, additional commercial agreements and continued operational improvements.
GiG has also moved to strengthen its financial position, securing a new revolving credit facility worth up to €3m earlier this month to support working capital and future growth initiatives.
The company said previously introduced cost-cutting measures are expected to generate €4.5m in annual savings throughout FY2026, with benefits beginning to materialise from Q2 onward.
Cash reserves improved slightly to €5.4m as of 31 March 2026, up from €4.9m the previous year.
Carter highlighted the company’s “AI-first approach” as a central part of its long-term strategy, aimed at improving efficiency, supporting cash flow generation and driving sustainable profitability as revenue growth accelerates later in the year.
The supplier signed a sportsbook and platform migration partnership with Jupiter Gaming to strengthen its position in the UK market, while also launching four new brands so far this year.
Meanwhile, long-term partner LuckyDays confirmed plans to enter Alberta’s newly regulated online gambling market, where GiG has already secured registration approval.
Despite ongoing financial pressure, GiG reiterated its full-year guidance, forecasting revenue between €44m and €48m alongside adjusted EBITDA of €10m to €13m for 2026.
