(AsiaGameHub) –   GiG Software has reported an increased operating loss for the first quarter of 2026, even as its revenue remained relatively stable, despite indications of underlying growth and ongoing expansion initiatives.

The B2B platform provider recorded an operating loss of €5.0 million for the quarter, an increase from €4.4 million in Q1 2025. Revenue saw a slight decrease, falling to €9.0 million from €9.1 million in the prior year.

Adjusted EBITDA also experienced a decline, dropping to €0.2 million from €0.4 million, with profit margins narrowing from 4% to 2%.

Notwithstanding the less favourable headline figures, the Malta-based supplier indicated that underlying revenue growth of 9% year-on-year demonstrates improving momentum within its core operations.

CEO Richard Carter described the company’s start to 2026 as “solid,” highlighting new product launches, additional commercial agreements, and continuous operational enhancements.

GiG has also taken steps to bolster its financial standing, securing a new revolving credit facility of up to €3 million earlier this month to support working capital and future growth projects.

The company anticipates that previously implemented cost-reduction measures will yield €4.5 million in annual savings throughout FY2026, with these benefits expected to become apparent from the second quarter onwards.

Cash reserves saw a modest improvement, reaching €5.4 million as of March 31, 2026, up from €4.9 million in the previous year.

Carter emphasized the company’s “AI-first approach” as a cornerstone of its long-term strategy, aimed at enhancing efficiency, supporting cash flow generation, and driving sustainable profitability as revenue growth accelerates later in the year.

The supplier entered into a partnership with Jupiter Gaming for a sportsbook and platform migration, reinforcing its presence in the UK market, and has launched four new brands this year.

In parallel, long-term partner LuckyDays has announced plans to enter Alberta’s newly regulated online gambling market, where GiG has already obtained registration approval.

Despite persistent financial pressures, GiG has reaffirmed its full-year financial projections, forecasting revenue between €44 million and €48 million, with adjusted EBITDA expected to be between €10 million and €13 million for 2026.