GiG Software Q2 loss widens to €7.2m

GiG Software experienced a €7.2 million loss for Q2 2026 after tax, which was greater than the previous year’s loss of €4.1 million, as a result of the drop in revenue and low profitability. Revenue was down by 5.4% as compared to Q2 2025, with €8.8 million booked for the reporting period. Adjusted EBITDA was down by 20% to €0.8 million. Meanwhile, EBITDA margin fell to 9% from 11% a year ago and operating losses increased to €6.9 million. In the first half of 2026, GiG Software reported a 3.3% decline in revenue to €17.8 million. Adjusted EBITDA was down by 28.6% to €1 million while loss after tax increased from €8.6 million to €12.4 million. In spite of this poor performance, GiG signed four contracts and signed three operators for launching operations in Alberta. CEO Richard Carter said: I am confident that the actions we have taken this year, both to reset our cost base and to complete this transformational acquisition, leave GiG structurally stronger, more focused and better positioned to deliver long-term value for our shareholders, our customers and our people. GiG Software is targeting the acquisition of an 80% stake in 888Africa, announced after the quarter. GiG expects the deal to strengthen its position in the African market and support its return to growth.