GiG Software Plc, a leading B2B iGaming technology provider, has released its financial results for the third quarter ended 30 September 2025 (Q3 2025).
Key Operational Highlights
- Successfully launched three new projects during Q3 2025, including GiG’s flagship sportsbook rollout in the UK. Two additional launches followed shortly after the quarter ended.
- Strong commercial momentum continued with five new agreements signed, among them a major deal to supply technology to a European Lottery and several new partnerships aimed at the Brazilian market.
- Steady progress on core strategic growth priorities, particularly in leveraging AI across the iGaming vertical.
- After the quarter closed, GiG signed a commercial agreement with a European operator to deliver platform and sportsbook services in France.
Q3 2025 Financial Summary
- Revenue: €9.7 million, up 31% year-on-year (Q3 2024: €7.4m).
- Adjusted EBITDA: €1.2 million, a €2.3 million improvement from last year (Q3 2024: -€1.1m), with a margin of 13% (Q3 2024: -15%).
- Operating loss: Reduced to €3.5 million (Q3 2024: -€9.7m).
- Cash and cash equivalents: €4.7 million as of 30 September 2025 (30 September 2024: €10.0m; 31 December 2024: €6.4m).
Following the quarter, GiG received €11 million from a directed share issue. With this strengthened balance sheet, the Board does not anticipate the need for additional funding at this time.
9M 2025 Performance (January–September)
- Revenue: €28.0 million, up 22% YoY (9M 2024: €23.0m).
- Adjusted EBITDA: €2.6 million (9M 2024: -€3.1m), at a 9% margin (9M 2024: -13%).
- Operating loss: Reduced to €11.6 million (9M 2024: -€22.1m).
Richard Carter, CEO of GiG, stated:
We are encouraged by our continued financial and operational progress. New business momentum remains strong, highlighted by strategic wins in Brazil and our first major entry into the lottery vertical through a European Lottery partnership.
Q3 was another step forward for GiG as we refine our go-to-market approach and enhance our scalable technology platform with an increasingly data-driven, AI-powered operating model.
