GIG SOFTWARE PLC - Q1 Results

Gig Software PLC delivered a resilient Q1 2026 investor update, reporting broadly stable revenue despite currency headwinds and lower one-off setup fees, while underlying recurring revenue growth reached 9% year-on-year. The company achieved its sixth consecutive quarter of positive adjusted EBITDA, reflecting disciplined cost management and operational efficiency. Growth across existing clients remained strong, with platform revenue increasing 15% and sportsbook revenue rising 18%, supported by momentum from key customers and new launches. Management highlighted a balanced revenue mix between minimum guarantees and revenue share, reinforcing the strength of its recurring revenue model. The group also completed four platform launches, signed seven new agreements, and secured a new $3 million revolving credit facility, strengthening liquidity with cash of $5.4 million at quarter end. Gig Software PLC reaffirmed full-year guidance of $44–48 million revenue and $10–13 million adjusted EBITDA, underpinned by 12–14 planned launches and ongoing annualised cost savings of $4.5 million. Strategic growth drivers include expansion into the newly regulated Alberta market, accelerating sportsbook demand ahead of the FIFA World Cup, and AI-led operational improvements designed to enhance margins, scalability, and cash generation. The company also continues to progress platform migrations in Spain, positioning the business for further efficiency gains and long-term profitability.