GiG Software (GIG) Q1 2026 earnings summary

Executive summary

• Q1 2026 delivered stable revenue year-on-year, with 9% underlying growth from existing business, despite FX and launch cadence headwinds.

• Achieved sixth consecutive quarter of positive adjusted EBITDA, reflecting strong cost control.

• Signed seven commercial agreements and completed four successful platform launches year-to-date.

• Implemented €4.5 million in annualized cost savings, with impact from Q2 2026 onwards, largely driven by AI and engineering efficiencies.

• Strengthened liquidity with a €3 million revolving credit facility and ended Q1 with €5.4 million in cash.

Financial highlights

• Q1 2026 revenue was €9.0 million, down 2% year-on-year, but grew 2% in constant currency; underlying revenue up 9% year-on-year excluding setup fees.

• Adjusted EBITDA was €0.2 million (2% margin), down from €0.4 million (4% margin) in Q1 2025, with cost base flat year-on-year.

• Cash position at quarter-end was €5.4 million, down from €9.9 million at year-end 2025, reflecting seasonal working capital outflows.

• Gross profit margin remained high at 96%.

• Annual recurring revenue (ARR) grew 5% year-on-year to €37.0 million.

Outlook and guidance

• Full year 2026 guidance reiterated: revenue of €44–48 million and adjusted EBITDA of €10–13 million, with margin of at least 20%.

• 12–14 platform launches planned for 2026, with launch activity and revenue acceleration weighted towards H2.

• 90% of 2026 revenue is underpinned by commercial agreements.

• Confident in achieving positive underlying cash generation and sustainable, scalable growth through 2026.

• Cost savings program of €4.5 million to impact from Q2 2026.