Gaming Innovation Group Posts 18% Growth, Positive EBITDA
Gaming Innovation Group (GiG) Q4 2025 results show continued momentum as the regulated-markets specialist delivered revenue growth, improved EBITDA margins, and strengthened cash generation, positioning the B2B iGaming technology provider for accelerated expansion in 2026.
Q4 2025 Financial Results: Revenue Up 8% YoY
GiG Software Plc, listed on the Nasdaq First North Premier Growth Market under the ticker GiG SDB, reported Q4 2025 revenue of €9.5 million, up 8% year-on-year from €8.8 million. according to its official Q4 2025 report.
Adjusted EBITDA increased by €1.4 million to €1.5 million, representing a 15% margin, compared to 1% in Q4 2024. The company reduced its operating loss to €3.6 million, reflecting continued cost optimisation and operational discipline.
Cash and cash equivalents stood at €9.9 million as of 31 December 2025, up from €6.4 million the previous year.
The results underline GiG’s progress as a B2B iGaming platform and sportsbook provider focused on regulated market growth and scalable technology deployment.
Full Year 2025: First Positive Adjusted EBITDA as Independent Listed Company
For the full year ended 31 December 2025:
- Revenue increased 18% YoY to €37.6 million
- Adjusted EBITDA reached €4.3 million, compared to a €3.0 million loss in FY 2024
- EBITDA margin improved to 11%
- Operating loss reduced to €15.2 million
The performance marks GiG’s first full year of positive adjusted EBITDA following its spin-off, reinforcing its turnaround strategy and improving investor confidence in the iGaming earnings profile.
Operational Highlights: Platform Launches and UK Expansion
During Q4 2025, GiG delivered six new launches, bringing total 2025 launches to 16, including ITV Win.
The company signed five new commercial agreements across its iGaming platform and mobile-first sportsbook solution, sustaining new business momentum.
In February 2026, GiG announced a platform and sportsbook migration agreement with Jupiter Gaming, expanding its footprint in the competitive UK iGaming market.
The group also progressed its cost optimisation programme and introduced new AI-based tools to enhance real-time marketing capabilities, player lifecycle management, and automated risk management strategies.
Regulated Markets Strategy Driving Growth
Positioned as a regulated markets iGaming technology provider, GiG offers compliant entry into 36+ regulated jurisdictions worldwide.
Its scalable, open-architecture iGaming platform integrates real-time data, automated rules engines, and personalised margin management, enabling operators to deliver localised user journeys and improved player engagement.
The company’s mobile-first sportsbook platform, featuring bet builder functionality, live betting capabilities, and player props, continues to support operator growth in high-compliance markets.
2026 Outlook: Revenue and EBITDA Acceleration
GiG reiterated its commitment to achieving underlying cash generation by the end of H1 2026.
For full year 2026, the company guides:
- Revenue between €44–48 million
- Adjusted EBITDA between €10–13 million
The outlook reflects accelerated customer additions, expanded sportsbook deployments, and continued operational efficiency improvements.
CEO Commentary
Richard Carter, Chief Executive Officer of Gaming Innovation Group, who previously detailed his regulated-market scalability vision, said:
“2025 marked GiG’s first full year as an independent, listed company in which we delivered strong growth and ongoing strategic progress. Revenue increased by 18% to €37.6 million, with adjusted EBITDA improving by €7.3 million to deliver our first year of positive adjusted EBITDA of €4.3 million.
We enter 2026 with strong momentum and expect to deliver sustained revenue and adjusted EBITDA growth through accelerated customer additions and continued operational discipline.”
Conclusion
Gaming Innovation Group exits 2025 with restored profitability, improving EBITDA margins, and accelerating regulated market momentum.
With 18% full-year revenue growth, expanding UK exposure, and a strengthened B2B iGaming platform and mobile-first sportsbook offering, GiG enters 2026 positioned for scalable earnings growth and improved cash generation.
Source: Gaming Innovation Group
