Gaming Innovation Group (GiG) has maintained its full-year guidance despite a flat start to 2026 trading.
The Q1 accounts of the Stockholm-listed iGaming technology group saw revenue reported at €9m, a marginal decline from €9.1m in Q1 2025. Leadership underlined that GiG remains in a period of operational adjustments, implementing cost efficiencies to improve earnings results through measures designed to “build foundations for growth later in the year”.
Operating and commercial adjustments saw adjusted EBITDA decline to €200,000 from €400,000 reported in Q1 2025. The transition period sees GiG continue to trade on a softer EBITDA margin of 2%, compared to 4% a year earlier.
Implementing initiatives under its strategic transformation programme that are expected to generate €4.5m in annualised savings, GiG’s Q1 accounts detailed a net loss after tax of €5.2m.
The action plan was backed by CEO Richard Carter, who said: “We took decisive and necessary steps to optimise our operations and these measures, including headcount reduction, and adoption of AI.”
He added: “Combined, this will deliver underlying cash flow generation whilst also enabling long term, sustainable profit growth as revenue growth accelerates from the second half of this year.”
The business also continues its migration strategy away from its legacy Alira platform and towards its proprietary CoreX technology stack. GiG expects the transition to deliver further operational savings while improving performance capabilities for clients.
Commercially, Q1 delivered several strategic milestones. GiG announced a platform and sportsbook migration agreement with Jupiter Gaming in February, expanding its footprint in the UK market at a time when regulatory changes are reshaping operator economics.
Leadership continues to target FY2026 revenue of €44m-€48m and adjusted EBITDA of €10m-€13m, implying EBITDA margins exceeding 20%.
Management further suggested recent UK Remote Gaming Duty increases could create opportunities for operators with stronger balance sheets and differentiated propositions.
The company also secured three post-period commercial agreements, including a partnership with LuckyDays to enter Alberta’s regulated online gambling market ahead of its anticipated July launch.
Moving forward, GiG highlighted a strengthened commercial pipeline, having launched four new brands year-to-date and expecting between 12 and 14 launches across 2026. Approximately 90% of expected annual revenue is already underpinned by commercial agreements, giving management confidence to reaffirm guidance.
CEO Carter concluded: “Combined, this will deliver underlying cash flow generation whilst also enabling long term, sustainable profit growth as revenue growth accelerates from the second half of this year.”
