GiG Reports 18% Revenue Growth in First Full Year as Independent Company

GiG Software, a key B2B iGaming technology provider, has released its 2025 financial report, detailing a period of growth and operational advancements. This marks the company’s first full year operating independently.

Key Takeaways

* GiG’s 2025 full-year revenue reached EUR 37.6 million, an 18% increase from the prior year, alongside a positive adjusted EBITDA of EUR 4.3 million.
* The fourth quarter of 2025 saw an 8% revenue rise to EUR 9.5 million and a significant jump in adjusted EBITDA to EUR 1.5 million.
* The company aims for underlying cash generation by mid-2026 and forecasts 2026 revenue between EUR 44-48 million.

Financial Performance in Review

GiG’s latest financial disclosures highlight a year of progress across its operations. For the fourth quarter of 2025, the company reported revenue of EUR 9.5 million, an 8% increase compared to EUR 8.8 million in the same period of 2024. Adjusted EBITDA for Q4 2025 stood at EUR 1.5 million, a substantial rise from EUR 0.1 million in Q4 2024, achieving a 15% margin. The operating loss for the quarter also saw a reduction, moving to EUR 3.6 million from EUR 6.1 million year-on-year.

Looking at the full year, GiG’s revenue for 2025 reached EUR 37.6 million, up 18% from EUR 31.8 million in 2024. The company transitioned from an underlying loss of EUR 3 million in 2024 to a positive adjusted EBITDA of EUR 4.3 million in 2025, with an 11% margin. The full-year operating loss was nearly halved, decreasing to EUR 15.2 million in 2025 from EUR 28.2 million in 2024. As of December 2025, GiG held EUR 9.9 million in cash and cash equivalents.

Operational Developments and Partnerships

The fourth quarter of 2025 was also marked by operational activity for GiG. The company completed six launches, including a collaboration with ITV Win. It also secured five new commercial agreements for its platform and sportsbook services, indicating continued business momentum within the iGaming sector. Furthermore, GiG reported advancements in its cost optimization initiatives, which include the integration of AI-based tools.

Beyond the fourth quarter, GiG announced a new platform and sportsbook migration agreement with Jupiter Gaming, signaling ongoing expansion in its service offerings to other gambling operators.

Outlook for 2026

GiG has reiterated its objective to achieve underlying cash generation by the close of the first half of 2026. The company has also provided its full-year guidance for 2026, anticipating revenue in the range of EUR 44-48 million and adjusted EBITDA between EUR 10-13 million.

Richard Carter, GiG’s CEO, expressed satisfaction with the 2025 results, noting the year as the company’s first full period as an independent, listed entity. He conveyed confidence in the company’s prospects for 2026, stating, “We enter 2026 with strong momentum and expect to deliver sustained revenue and adjusted EBITDA growth through accelerated customer additions and continued operational discipline.”