GiG Software (GIG) Q1 2025 earnings summary

Executive summary

• Achieved a 10% year-over-year revenue increase to €9.1 million in Q1 2025, driven by new customer launches, contract signings, and expansion into dynamic markets.

• Signed nine new commercial agreements, including with Casino Gran Madrid, and launched four new brands such as Betzone (UK), Primero (US Sweepstakes), and Powerplay (Ontario).

• Initiated technical consolidation and operational streamlining to improve profitability, scalability, and cost savings.

• Maintained a healthy cash position of €4.9 million at quarter-end.

Financial highlights

• Revenue rose to €9.1 million, up from €8.3 million in Q1 2024, with adjusted EBITDA turning positive at €0.3 million and a margin of 4%.

• Gross profit margin increased to 96% from 93% in Q1 2024.

• Net loss after tax was €4.6 million, an improvement from a €6.6 million loss in Q1 2024; operating loss reduced to €4.4 million.

• Cost base decreased by €0.2 million year-over-year despite higher revenues.

• Cash and cash equivalents at quarter-end were €4.9 million (Q1 2024: €4.5 million; Dec 2024: €6.4 million).

Outlook and guidance

• On track to meet 2025 revenue guidance of at least €44 million and EBITDA of at least €10 million, with 87% of revenue guidance already secured.

• Q2 2025 revenue expected between €9.1m and €9.5m; adjusted EBITDA guidance of €0.8m–€1.1m.

• Focus remains on rapid partner launches, product enhancements, and expanding into high-growth regulated and emerging markets, including social sweepstakes in the US.