GIG SOFTWARE PLC - Q2 Results

GiG Software’s Q2 2026 investor update highlights significant strategic and operational progress, including more than €10m of annualised cost savings, continued commercial momentum and the proposed acquisition of an 80% stake in 888 Africa for €16.4m. Q2 revenue was €8.8m, with adjusted EBITDA of €0.8m and a 9% margin, while underlying recurring revenue increased 14% year on year and sportsbook revenue rose 6%. The Group delivered nine successful brand launches during the quarter, taking the year-to-date total to 13, already ahead of its four-year guidance range of 12–14. GiG has implemented a major cost discipline programme, reducing its FTE base by more than 25% and exiting unprofitable markets and business lines, including the US, Philippines and white-label operations. Management expects the full benefit of its cost savings to support EBITDA and cash flow generation, with the standalone business on track to become cash generative by year end. The proposed 888 Africa acquisition is expected to add more than $50m of annualised revenue, provide exposure to one of the fastest-growing global iGaming markets and strengthen the combined Group’s cash flow profile. 888 Africa has delivered strong recent growth, with revenue up 32% and adjusted EBITDA improving from a loss to a $1.9m profit. Following expected completion by the end of September, GiG is guiding to combined 2026 revenue of €44m–€48m and adjusted EBITDA of €5m–€7m.