GiG Software reported a loss of €7.2 million for the second quarter of 2026, marking an increase from the €4.1 million loss posted in the same period last year. The company's revenue decreased by 5.4% year-over-year, totaling €8.8 million for the quarter. Adjusted EBITDA fell by 20%, landing at €0.8 million, and the EBITDA margin shrank from 11% to 9%. Operating losses also rose to €6.9 million.
For the first half of 2026, GiG Software experienced a 3.3% drop in revenue to €17.8 million. Adjusted EBITDA went down by 28.6% to €1 million, while the loss after tax increased significantly from €8.6 million to €12.4 million.
Despite these challenges, GiG signed four contracts and onboarded three operators to begin operations in Alberta. CEO Richard Carter expressed optimism regarding 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 plans to acquire an 80% stake in 888Africa, a move expected to bolster its position in the African market and facilitate its recovery and growth trajectory.
