GiG Software Q3 revenue falls 12% to EUR 8.5M as loss widens, 888AFRICA stake completed
GiG Software reported lower third-quarter revenue and adjusted EBITDA and a wider net loss, while cash rose. The B2B iGaming provider reiterated its 2026 guidance and highlighted its 80% stake in 888AFRICA.
GamblingSource: GamblingNews
B2B iGaming technology provider GiG Software has released its results for the third quarter of 2026, showing lower revenue and profitability alongside a stronger cash position.
Revenue for the quarter came in at EUR 8.5 million ($9.5 million), down 12% from EUR 9.7 million a year earlier. Adjusted EBITDA fell 33% to EUR 0.8 million ($0.9 million), compared with EUR 1.2 million in Q3 2025, giving an adjusted EBITDA margin of 9%. EBIT was a loss of EUR 4.3 million ($4.8 million), against a loss of EUR 3.5 million in the prior-year period. Loss after tax widened to EUR 4.5 million ($5 million) from EUR 3 million.
Cash movements were more favorable. GiG Software recorded a net cash inflow of EUR 4.5 million ($5 million), up from EUR 0.4 million a year before. Cash at the end of the quarter stood at EUR 8 million ($8.9 million), compared with EUR 4.7 million at the end of Q3 2025.
The company reiterated its guidance for 2026, expecting revenue of EUR 45-47 million ($50.2-52.4 million) and adjusted EBITDA of EUR 5.5-7 million ($6.1-7.8 million). For 2027 it is targeting revenue of EUR 85-90 million ($94.8-100.4 million) and adjusted EBITDA of EUR 17-19 million ($19-21.2 million).
A key event of the period was the acquisition of an 80% stake in 888AFRICA, described as a cash-generative, fast-growing African B2C operator. GiG also renewed an existing agreement and signed new partnerships with three operators in Alberta, extending its presence in that newly regulated market.
CEO Richard Carter called the 888AFRICA deal a "defining moment" for the business, saying it pairs a leaner B2B platform operation with a profitable B2C operator that holds a market-leading position in Mozambique and operates in Angola and Tanzania. He said cost programs continued to deliver savings and that the planned closure of Alira Spain should bring further savings. Carter added that he was confident the year's actions leave GiG structurally stronger and better capitalized.
Based on reporting by GamblingNews.