GiG Software (GIG) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue rose 31% year-over-year to €9.7 million, with adjusted EBITDA improving to €1.2 million from a €1.1 million loss in Q3 2024, and margin reaching 13%.

• Five new commercial agreements were signed, including entry into the Brazilian market and a European Lottery deal, diversifying growth avenues.

• Three successful client launches in Q3, with two more in Q4, supporting the target of 15 launches for the year.

• Artificial Intelligence initiatives delivered operational efficiencies, including reduced false positives in risk management and improved user engagement.

• Cash position strengthened to €12.9 million post-equity raise, enabling the formation of an executive committee to explore investments and acquisitions.

Financial highlights

• Revenue increased by €2.3 million year-on-year in Q3, all of which contributed directly to adjusted EBITDA, achieving the rule of 40 for the first time with a score of 44%.

• New customer launches contributed €0.8 million in Q3 revenue; total new customer revenue for the year is €1.5 million.

• Operating expenses reduced by €0.2 million year-on-year, with cost control offsetting increased personnel costs.

• Gross profit margin remained high at 95% in Q3 2025.

• Year-to-date revenue up 22% to €28 million, with adjusted EBITDA up €5.7 million to €2.6 million for the nine months to September 30.

Outlook and guidance

• FY 2025 guidance reconfirmed: at least €39–42 million in revenue and €5–7 million in EBITDA.

• 2026 outlook: at least €56–60 million in revenue and EBITDA above €15 million, with a focus on cash generation by end of H1 2026.

• Q4 expected to accelerate due to seasonality, new client launches, and setup fees, with revenue guidance of €11–14 million and adjusted EBITDA of €2.4–4.4 million.

• Revenue cadence in 2026 expected to mirror 2025, building through the year as new clients ramp up.

• 2027 targets: €70–75 million revenue, ARR above €65 million, EBITDA margin above 30%.