GiG posts 9m revenue in Q1 2026 as savings plan begins

Costs and H2 pivot
New market push
What's ahead

GiG posted Q1 2026 revenue of €9.0m and adjusted EBITDA of €0.2m, with cost savings initiatives set to deliver €4.5m in annualised savings from Q2.
The B2B platform provider agreed a new revolving credit facility of up to €3m in May and signed a migration deal with Jupiter Gaming to expand its UK footprint.
GiG has received registration approval as a technology provider in Alberta ahead of Canada’s second regulated iGaming market opening on 13 July.

GiG Software has made what its chief executive calls a solid start to 2026, posting first-quarter revenue of €9.0m and adjusted EBITDA of €0.2m.

The Malta-based B2B iGaming technology company counts on a sweeping cost programme designed to unlock profit growth in the second half of the year.

The figures, published on 21 May, were broadly stable year on year, with Q1 revenue marginally down from €9.1m in Q1 2025. Per the results release, underlying revenue growth came in at 9% year-on-year.

Cash on hand rose to €5.4m at 31 March, up from €4.9m a year earlier. GiG reiterated full-year guidance of €44m–€48m in revenue and €10m–€13m in adjusted EBITDA.

Richard Carter, Chief Executive Officer of GiG, said:

“GiG has made a solid start to the year, further strengthening our operational base for the remainder of 2026. We are collectively excited by the growth in our core business, alongside new launches and additional commercial agreements with new and existing customers.

“We have now created a robust operational framework, closely aligned with strong cost control, founded on an AI-first approach designed to deliver underlying cash flow generation whilst enabling long term, sustainable profit growth as revenue growth accelerates from the second half of this year.”

Costs and H2 pivot

GiG successfully implemented the measures required to deliver the previously announced €4.5m in annualised cost savings, with the financial impact set to flow through from Q2. A new revolving credit facility of up to €3m, agreed in May, adds working capital headroom for the growth push ahead.

AI sits at the centre of the strategy. The company described the ongoing roll-out of AI initiatives as supporting efficiency gains, client support and product development, part of what Carter characterised as an “AI-first approach” to operations.

In Q3 2025, GiG said it expected AI-driven systems to underpin the majority of its operational and product workflows by 2026, contributing to margin expansion and higher delivery velocity.

On the commercial front, the Q1 release confirmed a platform and sportsbook migration agreement with Jupiter Gaming, extending GiG’s presence in the UK. Four new brands launched in the year to date, including multiple brands with Jupiter Gaming.

New market push

Per the results release, post-period GiG announced that its long-term partner LuckyDays is preparing to enter the newly regulating Alberta online gaming market. GiG has received registration approval as a licensed technology provider in the province.

According to GiG, Alberta is set to become Canada’s second regulated commercial iGaming market after Ontario, opening to private operators from 13 July 2026. The company cited H2 projections suggesting the market could generate C$1.9bn by 2030, at an estimated CAGR of 17% between 2027 and 2030.

Carter said of the expansion:

“Alberta represents a compelling growth opportunity for GiG as Canada’s regulated iGaming market continues to expand. Our market-leading platform is designed to enable efficient market entry and scalable growth, supporting partners as they capitalise on new regulated opportunities.”

Simon Herchel, Director of Product and Tech at LuckyDays, said:

“Our expansion into Alberta reflects the strength of our partnership with GiG. Their proven technology and expertise enable us to enter new regulated markets with confidence, supporting efficient execution and long-term, sustainable growth.”

Alberta’s regulatory framework is closely modelled on Ontario’s system, with strict requirements around responsible gambling, identity verification and advertising standards.

With 28 operators already registered ahead of the July opening, GiG’s registration approval from inception positions it as an early mover.

What’s ahead

With 90% of FY 2026 revenue already underpinned by commercial agreements, GiG enters the critical second half with contractual visibility intact.

The H2 thesis rests on the €4.5m cost savings hitting the accounts, a pipeline of new launches including Alberta converting into recurring revenue, and the AI-first operating model continuing to expand margins.

For investors, Q2 results will be the first real test of whether that case holds.

Keep Reading