GiG Software reported a significant after-tax loss of €7.2 million for the second quarter of 2026, an increase from the €4.1 million loss experienced in the same period last year. This downturn is attributed to declining revenue and low profitability.
For Q2 2026, the company saw a 5.4% decrease in revenue year-over-year, totaling €8.8 million. Adjusted EBITDA fell by 20%, landing at €0.8 million. Furthermore, the EBITDA margin dropped from 11% in the previous year to 9%, while operating losses rose to €6.9 million.
In the first half of 2026, GiG Software's revenue declined by 3.3% to €17.8 million. Adjusted EBITDA decreased by 28.6% to €1 million, with losses after tax increasing from €8.6 million to €12.4 million.
Despite these disappointing figures, GiG secured four new contracts and onboarded three operators to initiate operations in Alberta. CEO Richard Carter expressed confidence in the company's restructuring efforts, 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, aimed at strengthening its presence in the African market and facilitating a return to growth.
