GiG Reports 31% Revenue Growth in Q3 2025, Achieves Positive EBITDA

GiG Software Plc (First North: GiG SDB; OTCQX: GIGXF), a B2B iGaming technology company, has released its financial results for the third quarter ended 30 September 2025. The company reported revenue of €9.7 million, representing a 31% increase compared to €7.4 million in Q3 2024.

The B2B supplier generated adjusted EBITDA of €1.2 million for the quarter at a margin of 13%, marking a significant improvement from a loss of €1.1 million and negative margin of 15% in the same period last year. The company’s operating loss reduced to €3.5 million, compared to an underlying loss of €9.7 million in Q3 2024.

Operational Progress

GiG delivered three platform launches during Q3 2025, including its sportsbook product in the UK market. Two additional launches were completed following the quarter’s close. The company signed five new commercial agreements during the period, including a contract to supply technology to a European lottery operator and new partnerships targeting the Brazilian market.

Post-quarter end, GiG entered into a commercial agreement with a European operator to provide platform and sportsbook services to the French market.

Nine-Month Performance

For the first nine months of 2025, revenue reached €28.0 million, up 22% from €23.0 million in the corresponding period of 2024. Adjusted EBITDA for the nine-month period amounted to €2.6 million at a margin of 9%, compared to a loss of €3.1 million in 9M 2024.

The company’s operating loss for the nine-month period reduced to €11.6 million from €22.1 million in the prior year period.

Financial Position

GiG reported cash and cash equivalents of €4.7 million as at 30 September 2025, compared to €6.4 million at 31 December 2024. The company received €11 million during Q3 2025 related to a directed share issue. The board expressed satisfaction with the balance sheet strength and stated it does not currently anticipate the need for additional funding.

Management Commentary

“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,” said Richard Carter, Chief Executive Officer of GiG.

Carter noted that Q3 represented further progress for the business and evolution of its technology platform. He highlighted the company’s focus on refining its go-to-market strategy and developing what he described as an increasingly data-driven, AI-empowered operating model.

AI Integration

The company reported measurable outcomes from AI integration across its operations. Machine learning models in fraud and risk management have reduced false positives by over 30% and improved detection efficiency by 40%. In automated quality assurance and testing, AI pipelines have shortened release cycles by approximately 25%.

A recent mobile optimization case study demonstrated a 25% reduction in median load times and a 15% increase in session engagement within the first month of rollout.

GiG’s AI strategy for 2026 focuses on expanding the use of large language models for internal tooling and support automation, and advancing mobile user experience through AI-driven adaptive design and predictive engagement analytics.

Q3 2025 Milestone

The company achieved a Rule of 40 score of 44% for the first time in its history, combining 31% revenue growth with a 13% EBITDA margin. The Rule of 40 is a performance metric used to assess the balance between growth and profitability in software companies.

GiG has completed 10 launches year-to-date and targets 15 launches for the full year 2025.

Source: GiG Software Plc