GiG Software reported a loss of €7.2 million in the second quarter of 2026, an increase from the €4.1 million loss recorded in the same period the previous year. This decline is attributed to a revenue drop and lower profitability. The company's revenue fell by 5.4% year-over-year, totaling €8.8 million for the quarter. Adjusted EBITDA also decreased by 20%, resulting in €0.8 million. Additionally, the EBITDA margin dropped from 11% last year to 9%, and operating losses climbed to €6.9 million.
For the first half of 2026, GiG Software saw a 3.3% decrease in revenue, bringing in €17.8 million. Adjusted EBITDA declined by 28.6% to €1 million, and the loss after tax grew from €8.6 million to €12.4 million.
Despite these financial challenges, GiG secured four new contracts and partnered with three operators to start operations in Alberta. CEO Richard Carter stated, "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 plans to acquire an 80% stake in 888Africa, a move that aims to enhance its foothold in the African market and facilitate a return to growth.
