GiG Software reported a substantial loss of €7.2 million for the second quarter of 2026, surpassing the €4.1 million loss recorded in the same quarter of the previous year. The company attributed this increase to a decline in revenue and low profitability during the reporting period.
Revenue fell by 5.4% relative to Q2 2025, totaling €8.8 million. The adjusted EBITDA experienced a 20% decrease, amounting to €0.8 million, and the EBITDA margin declined to 9%, down from 11% a year earlier. Operating losses also rose, reaching €6.9 million.
For the first half of 2026, GiG Software noted a 3.3% drop in revenue, which reached €17.8 million. Adjusted EBITDA also saw a significant decline, falling by 28.6% to €1 million. The loss after tax escalated from €8.6 million to €12.4 million over the same period.
Despite this disappointing financial performance, GiG successfully signed four contracts and brought on three operators to launch operations in Alberta. CEO Richard Carter expressed his confidence in the company's future, stating, "I am confident that the actions we have taken this year, both to reset our cost base and to complete this transformational acquisition, leave GiG structurally stronger, more focused and better positioned to deliver long-term value for our shareholders, our customers and our people."
Following the quarter, GiG announced its plans to acquire an 80% stake in 888Africa, a move expected to enhance its position within the African market and aid in its recovery.
