GiG reports €9 million Q1 revenue as cost-cutting strategy and AI investments reshape outlook

Gaming Innovation Group (GiG) Software PLC reported €9 million in revenue for Q1 2026, broadly in line with the €9.1 million posted during the same period last year, as the Malta-headquartered B2B iGaming technology provider continued restructuring efforts aimed at improving long-term profitability.

Adjusted EBITDA stood at €0.2 million, down from €0.4 million in Q1 2025, while operating losses widened to €5 million from €4.4 million year-on-year. Cash and cash equivalents reached €5.4 million as of 31 March 2026, up from €4.9 million a year earlier.

The company attributed short-term profitability pressures to internal restructuring measures, headcount reductions and investment into AI-powered automation tools, which GiG expects will deliver annualised cost savings of €4.5 million beginning from Q2 onwards.

CEO Richard Carter described Q1 as a period focused on strengthening operational foundations while improving cash generation.

“We took decisive and necessary steps to optimise our operations,” he said, adding that measures introduced during the quarter would support long-term sustainable profit growth as revenue accelerates during the second half of 2026.

Commercial expansion remained central to GiG’s strategy during the quarter. In February, the company announced a platform and sportsbook migration agreement with Jupiter Gaming, expanding its UK market footprint through the transition of Jupiter’s casino brands onto GiG’s proprietary CoreX and SportX technology stack.

GiG also secured three product upsells in Spain and, following the quarter’s close, entered an agreement with LuckyDays to support entry into Alberta’s newly regulating online gaming market, expected to launch in July 2026. The company confirmed it has already received registration approval to operate in Alberta.

The Canadian province represents a major growth opportunity for GiG, which already operates with four partners in Ontario and has two additional launches planned. Alberta’s opening would bring GiG’s regulated market footprint to 32 jurisdictions globally.

Revenue excluding one-off setup fees increased 9 per cent year-on-year to €8.6 million, highlighting growth in recurring revenue streams despite foreign exchange pressures. GiG noted that weakness in the Argentinian Peso negatively impacted quarterly revenue by approximately €0.3 million on a constant currency basis.

The company continues transitioning operators from its legacy Alira platform onto CoreX, a move expected to deliver both operational efficiencies and additional cost savings over time. GiG also launched four new brands year-to-date, including two with Jupiter Gaming.

Looking ahead, GiG reaffirmed its full-year guidance of €44 million to €48 million in revenue and adjusted EBITDA between €10 million and €13 million, implying margins exceeding 20 per cent. Around 90 per cent of expected 2026 revenue is already supported by commercial agreements.

The business additionally strengthened its balance sheet post-period through securing a revolving credit facility worth up to €3 million.

GiG expects between 12 and 14 new brand launches across 2026 as it continues expanding regulated market exposure while embedding AI-driven operational efficiencies across its business model.