Key Moments:
- Revenue for Q3 2025 rose 31% year-over-year to €9.7 million
- Operating loss for Q3 2025 improved to €3.5 million from €9.7 million a year earlier
- GiG completed three launches in the quarter and signed five commercial agreements, including major deals in Europe and Brazil
Strong Financial Performance in Q3 2025
GiG Software Plc, a major provider of B2B iGaming technology, has published its financial results for the third quarter of 2025, ending on September 30. The company delivered a robust performance, reporting a revenue increase to €9.7 million, a rise of 31% compared to €7.4 million in Q3 2024.
| Metric | Q3 2025 | Q3 2024 |
|---|---|---|
| Revenue | €9.7 million | €7.4 million |
| Adjusted EBITDA | €1.2 million | Loss of €1.1 million |
| EBITDA Margin | 13% | -15% |
| Operating Loss | €3.5 million | Loss of €9.7 million |
| Cash Balance (Sep 30, 2025) | €4.7 million | €10.0 million (Sep 30, 2024) |
The company’s adjusted EBITDA rose €2.3 million to reach €1.2 million in the third quarter, reversing a loss of €1.1 million reported in Q3 2024. The EBITDA margin recovered to 13%, compared with -15% for the same period last year. Operating losses narrowed significantly to €3.5 million from €9.7 million a year prior.
As of September 30, 2025, GiG’s cash and cash equivalents stood at €4.7 million, down from €10.0 million at the same time in 2024, and compared to €6.4 million as of December 31, 2024.
Business Momentum and Strategic Initiatives
Throughout Q3 2025, GiG executed three major launches, notably introducing its sportsbook product to the UK market. After the quarter ended, two further launches were completed. The company continued to build its commercial pipeline, signing five new contracts, which include technology supply for a European Lottery and new partnerships addressing opportunities in Brazil.
GiG also advanced its core strategic priorities, with a particular focus on deploying AI-led technology across its iGaming offerings. After the end of Q3, the company signed a new commercial agreement to deliver platform and sportsbook solutions for a French operator.
Capital Position and Shareholder Update
GiG received €11 million from a directed share issue at the end of the quarter, strengthening its balance sheet. The Board expressed satisfaction with the current financial position and reported that, in the interest of shareholders, it does not currently anticipate a need to raise further capital.
Performance in the First Nine Months of 2025
| Metric | 9M 2025 | 9M 2024 |
|---|---|---|
| Revenue | €28.0 million | €23.0 million |
| Adjusted EBITDA | €2.6 million | Loss of €3.1 million |
| EBITDA Margin | 9% | -13% |
| Operating Loss | €11.6 million | Loss of €22.1 million |
For the first nine months of 2025, revenue totaled €28.0 million, up 22% from €23.0 million in the prior year period. Adjusted EBITDA reached €2.6 million, reversing a €3.1 million loss for the same period in 2024. The operating loss improved to €11.6 million from €22.1 million previously, while the EBITDA margin advanced to 9% from -13%.
Management Perspective
Richard Carter, Chief Executive Officer of GiG, said: “We continue to be encouraged with our ongoing financial and operational progress across the business. Our new business momentum has been supported by a number of key strategic new business wins, including recent gains targeting the Brazilian market and GiG securing a major European Lottery, marking our first entry into the lottery vertical.
“Q3 represented another period of progress for GiG and further evolution of the business. We continue to refine our go-to-market strategy and evolve our highly scalable technology platform complemented by an increasingly data-driven, AI-empowered operating model.”
- Author
Daniel Williams
