Hacksaw Gaming has started 2026 on a strong note, reporting Q1 revenue of €57.6 million, up 28% year-over-year. Profit for the period rose to €45.5 million, while adjusted operating profit reached €47.4 million, maintaining a stable profit margin of 82%.
CEO Christoffer Källberg noted that during the first quarter, “the company had a strong start to the year with solid growth and high margins as evidenced in the financial performance of our strategy of product development and monetization.”
In addition to the 27 new titles released this quarter, Hacksaw also signed 79 commercial agreements, including with bet365 in Pennsylvania and William Hill in Italy.
In total, 12 in-house titles and 15 third-party titles were released in Q1 via the OpenRGS platform.
By March, nine studios were using OpenRGS and Foxhound Games launched their first title in February. The total number of games in the Hacksaw catalogue now exceeds 320, up 43% from the prior twelve-month period. Average daily rounds played increased over the last year by 43%.
Q1 2026 Financial Highlights:
€57.6m – revenue (+28% YoY, +37% in constant currency)
€48.8m – adjusted EBITDA (+28% YoY), margin 85% (flat YoY)
€47.4m – adjusted EBIT (+27% YoY), margin 82% (vs. 83% YoY)
€45.5m – net profit (+51% YoY)
€0.157 – earnings per share (+49% YoY)
€45.7m – operating cash flow (+12% YoY)
€176m – cash position at period end
LTM (April 2025 – March 2026):
€210.1m – revenue (+35% YoY, +43% in constant currency)
€171.6m – adjusted EBIT (82% margin)
€158.2m – net profit
€157.0m – operating cash flow
CEO Christoffer Källberg said:
We continue to see attractive opportunities to use our strong cash generation to invest in early-stage companies within our ecosystem where we can capture significant potential by providing both capital and strategic support to founders.
Beyond game launches and licensing, Hacksaw is channeling resources into early‑stage investments through Hacksaw Ventures.
