For year-on-year revenue, GiG Software had 12% decline in Q3 down to €8.5 million. Meanwhile, the net loss widened by 50% even though the operating costs were lower.
For three months, the revenue fell from €9.7 million a year earlier. Adjusted EBITDA declined 33% to €0.8 million, while EBITDA dropped 64% to €0.4 million.
The company attributed the revenue decline primarily to client departures, including the insolvency of Richmond Atlantic, and lower setup fees.
GiG Software cutted staff earlier in 2026, which led to reduced operating expenses by €1 million year-on-year. The savings were insifficient to offset weaker revenue. Earnings before interest and tax showed a loss of €4.3 million, compared with a €3.5 million loss in Q3 2025. Net loss increased to €4.5 million from €3 million.
In the nine months to the end of September 2026, revenue decreased by 6% to €26.3 million compared to the same period last year, while adjusted EBITDA fell by 31%. Net loss for the period increased to €16.9 million from €11.6 million for the same period last year.
As for the year 2027, GiG Software expects revenue to be €85-€90 million and adjusted EBITDA to be €17-19 million, which will be a significant jump from this year’s performance, should the forecasts materialize.
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, better capitalised and well positioned to deliver long-term value for our shareholders, our customers and our people.
The company expects a stronger performance in 2027 following its €16.4 million acquisition of an 80% stake in 888Africa, completed in August.