GiG Software Reports €7.2m Q2 2026 Loss

GiG Software recorded a €7.2 million loss after tax in the second quarter of 2026, widening from a €4.1 million loss in the same period last year as lower revenue and weaker profitability affected its results.

Revenue for the quarter fell 5.4% year-on-year to €8.8 million. Adjusted EBITDA declined by 20% to €0.8 million, while the EBITDA margin dropped to 9%, compared with 11% in Q2 2025. Operating losses also increased to €6.9 million.

For the first six months of 2026, GiG Software reported revenue of €17.8 million, representing a 3.3% decline from the previous year. Adjusted EBITDA fell 28.6% to €1 million, while the loss after tax widened from €8.6 million to €12.4 million.

Despite the weaker financial performance, the company secured four new contracts and signed agreements with three operators preparing to launch in Alberta.

CEO Richard Carter said:

“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 Software announced plans to acquire an 80% stake in 888Africa. The company expects the transaction to strengthen its presence in the African market and support its plans to return to growth.