{"id":8735,"date":"2025-02-28T06:52:25","date_gmt":"2025-02-28T06:52:25","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/02\/28\/gig-software-reports-strong-revenue-growth-despite-operating-losses-in-2024\/"},"modified":"2025-02-28T06:52:25","modified_gmt":"2025-02-28T06:52:25","slug":"gig-software-reports-strong-revenue-growth-despite-operating-losses-in-2024","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/02\/28\/gig-software-reports-strong-revenue-growth-despite-operating-losses-in-2024\/","title":{"rendered":"GiG Software Reports Strong Revenue Growth Despite Operating Losses in 2024"},"content":{"rendered":"<div>\n<p data-start=\"79\" data-end=\"408\">GiG Software Plc (First North: GiG SDB) has released its financial results for the fourth quarter and full year of 2024, highlighting significant revenue growth despite recording net losses. The company saw underlying revenue rise by 44% year-over-year in Q4 2024, driven by key customer launches and new commercial agreements.<\/p>\n<h2 data-start=\"410\" data-end=\"455\"><strong data-start=\"414\" data-end=\"453\">Revenue Growth and Key Developments<\/strong><\/h2>\n<p data-start=\"457\" data-end=\"818\">GiG generated \u20ac8.8 million in revenue for Q4 2024, reflecting a 19% increase from the previous quarter. However, compared to Q4 2023, revenue slightly declined from \u20ac9.1 million. The company signed seven new commercial agreements, including a renewed partnership with Betsson, and expanded its market presence with new launches, including The Pools in the UK.<\/p>\n<p data-start=\"820\" data-end=\"1131\">CEO Richard Carter expressed optimism about GiG\u2019s growth trajectory, stating, <em>\u201cQ4 2024 marked a transformational quarter both in the growth delivered and the foundations laid for 2025, and I am confident as I look to 2025 and beyond of GiG\u2019s ability to deliver the desired results and growth accordingly.\u201d<\/em><\/p>\n<p data-start=\"1133\" data-end=\"1437\">The company\u2019s pipeline continues to expand, reaching an annual contract value of \u20ac75 million as of December 31, 2024. Of this, \u20ac16 million has already been secured through long-term contracts. Looking ahead, GiG is gearing up for further expansion, with launches of Betzone and Primero in January 2025.<\/p>\n<p data-start=\"1492\" data-end=\"1764\">Despite revenue growth, GiG reported a net loss of \u20ac6 million for Q4 2024, an increase from the \u20ac3.9 million loss in Q4 2023. Adjusted EBITDA fell to \u20ac0.1 million from \u20ac1.1 million in the same period last year. The company ended 2024 with a cash balance of \u20ac6.3 million.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p data-start=\"1766\" data-end=\"1850\">Below is a breakdown of GiG\u2019s financial performance for Q4 2024 and the full year:<\/p>\n<h3 data-start=\"1852\" data-end=\"1890\"><strong data-start=\"1857\" data-end=\"1888\">Q4 2024 Financial Breakdown<\/strong><\/h3>\n<table data-start=\"1892\" data-end=\"2831\">\n<thead data-start=\"1892\" data-end=\"1998\">\n<tr data-start=\"1892\" data-end=\"1998\">\n<th data-start=\"1892\" data-end=\"1919\"><strong data-start=\"1894\" data-end=\"1904\">Metric<\/strong><\/th>\n<th data-start=\"1919\" data-end=\"1938\"><strong data-start=\"1921\" data-end=\"1937\">Q4 2024 (\u20acm)<\/strong><\/th>\n<th data-start=\"1938\" data-end=\"1957\"><strong data-start=\"1940\" data-end=\"1956\">Q4 2023 (\u20acm)<\/strong><\/th>\n<th data-start=\"1957\" data-end=\"1976\"><strong data-start=\"1959\" data-end=\"1975\">FY 2024 (\u20acm)<\/strong><\/th>\n<th data-start=\"1976\" data-end=\"1998\"><strong data-start=\"1978\" data-end=\"1994\">FY 2023 (\u20acm)<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody data-start=\"2102\" data-end=\"2831\">\n<tr data-start=\"2102\" data-end=\"2204\">\n<td style=\"text-align: center;\"><strong data-start=\"2104\" data-end=\"2115\">Revenue<\/strong><\/td>\n<td style=\"text-align: center;\">8.8<\/td>\n<td style=\"text-align: center;\">9.1<\/td>\n<td style=\"text-align: center;\">31.8<\/td>\n<td style=\"text-align: center;\">37.8*<\/td>\n<\/tr>\n<tr data-start=\"2205\" data-end=\"2307\">\n<td style=\"text-align: center;\"><strong data-start=\"2207\" data-end=\"2226\">Adjusted EBITDA<\/strong><\/td>\n<td style=\"text-align: center;\">0.1<\/td>\n<td style=\"text-align: center;\">1.1<\/td>\n<td style=\"text-align: center;\">(3.0)<\/td>\n<td style=\"text-align: center;\">11.1<\/td>\n<\/tr>\n<tr data-start=\"2308\" data-end=\"2410\">\n<td style=\"text-align: center;\"><strong data-start=\"2310\" data-end=\"2320\">EBITDA<\/strong><\/td>\n<td style=\"text-align: center;\">(0.4)<\/td>\n<td style=\"text-align: center;\">0.7<\/td>\n<td style=\"text-align: center;\">(7.2)<\/td>\n<td style=\"text-align: center;\">20.0***<\/td>\n<\/tr>\n<tr data-start=\"2411\" data-end=\"2515\">\n<td style=\"text-align: center;\"><strong data-start=\"2413\" data-end=\"2439\">Adjusted EBITDA Margin<\/strong><\/td>\n<td style=\"text-align: center;\">1%<\/td>\n<td style=\"text-align: center;\">12%<\/td>\n<td style=\"text-align: center;\">-9%<\/td>\n<td style=\"text-align: center;\">29%<\/td>\n<\/tr>\n<tr data-start=\"2516\" data-end=\"2619\">\n<td style=\"text-align: center;\"><strong data-start=\"2518\" data-end=\"2543\">EBIT (Operating Loss)<\/strong><\/td>\n<td style=\"text-align: center;\">(6.1)<\/td>\n<td style=\"text-align: center;\">(3.8)<\/td>\n<td style=\"text-align: center;\">(28.0)<\/td>\n<td style=\"text-align: center;\">4.8***<\/td>\n<\/tr>\n<tr data-start=\"2620\" data-end=\"2725\">\n<td style=\"text-align: center;\"><strong data-start=\"2622\" data-end=\"2649\">(Loss)\/Profit After Tax<\/strong><\/td>\n<td style=\"text-align: center;\">(6.0)<\/td>\n<td style=\"text-align: center;\">(3.9)<\/td>\n<td style=\"text-align: center;\">(80.2)<\/td>\n<td style=\"text-align: center;\">4.6<\/td>\n<\/tr>\n<tr data-start=\"2726\" data-end=\"2831\">\n<td style=\"text-align: center;\"><strong data-start=\"2728\" data-end=\"2755\">Cash &#038; Cash Equivalents<\/strong><\/td>\n<td style=\"text-align: center;\">6.3<\/td>\n<td style=\"text-align: center;\">10.6<\/td>\n<td style=\"text-align: center;\">6.3<\/td>\n<td style=\"text-align: center;\">10.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p data-start=\"2833\" data-end=\"3132\">* 2023 revenue includes a \u20ac7.8m one-off from the GiG Enterprise Solution sale (2024: \u20ac1.3m).<br data-start=\"2926\" data-end=\"2929\">** Adjusted for share-based payments, spin-off costs, and one-time asset impairments.<br data-start=\"3015\" data-end=\"3018\">*** 2023 EBITDA\/EBIT includes a \u20ac10.4m reversal of contingent consideration from the 2022 SportnCo acquisition.<\/p>\n<p data-start=\"3134\" data-end=\"3413\">While financial losses remain a challenge, GiG\u2019s strategic initiatives and strong revenue growth position the company for a promising 2025. With new launches and expanded partnerships, GiG aims to enhance its market footprint and drive further revenue gains in the coming year.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/gig-software-reports-strong-revenue-growth-despite-operating-losses-in-2024\/\">GiG Software Reports Strong Revenue Growth Despite Operating Losses in 2024<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>GiG Software Plc (First North: GiG SDB) has released its financial results for the fourth quarter and full year of 2024, highlighting significant revenue growth despite recording net losses. The company saw underlying revenue rise by 44% year-over-year in Q4 2024, driven by key customer launches and new commercial agreements. Revenue Growth and Key Developments [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8735","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8735"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8735\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}