GiG Software (GIG) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue grew 27% year-over-year to €9.3m, driven by new customer launches and expansion into key markets like the Philippines.

• Adjusted EBITDA improved to €1.0m from a €1.1m loss, reflecting strong cost control and operational scalability.

• Significant balance sheet strengthening with €26.7m raised through two directed share issues in June and July 2025.

• Three new partners launched, including the first in the Philippines, and several new commercial agreements signed, with two major partnerships post-period.

• Operating loss narrowed to €3.7m from €6.6m year-over-year, with continued investment in product and market expansion.

Financial highlights

• Revenue rose to €9.3m in Q2 2025 from €7.3m in Q2 2024, up 27% year-over-year.

• Adjusted EBITDA turned positive at €1.0m, up from a €1.1m loss, with margin of 11%.

• H1 2025 revenue increased 18% year-over-year to €18.4m, with adjusted EBITDA at €1.4m, up €3.5m year-over-year.

• Gross profit margin improved to 96% in Q2 2025 from 94% in Q2 2024.

• Loss after tax for Q2 2025: €4.1m, improved from €7.9m in Q2 2024.

Outlook and guidance

• 2025 revenue guidance revised to €39m–€42m and EBITDA to €5m–€7m, with cashflow breakeven expected in H1 2026.

• 2026 revenue expected in the €56m–€60m range, with EBITDA margin >25%; 2027 revenue guided at €70m–€75m and EBITDA margin >30%.

• Deferred launches and regulatory changes, especially in Sweepstakes, expected to impact near-term revenue and profitability.

• Strategic focus on larger, more profitable partners and high-growth regulated markets, including accelerated Brazil entry.

• Q3 2025 revenue expected at €9.7m–€10.0m, adjusted EBITDA €1.0m–€1.3m.