Hacksaw Gaming has reported a remarkable 31% increase in revenue, reaching €59.3 million in Q2 2026. The company released its first interim report under the new temporary CEO on July 21, showcasing strong financial performance and high margins.
Key financial metrics for Q2 2026 include:
- Revenue: €59.3 million (31% YoY, 33% at constant currency)
- Adjusted EBITDA: €49.9 million (31% YoY), margin at 84%
- Adjusted EBIT: €48.4 million (31% YoY), margin at 82%
- Net Profit: €45.7 million (43% YoY)
- EPS: €0.158 (43% YoY)
- Operating Cash Flow: €43.1 million (60% YoY)
- Cash at Period End: €99.4 million
For H1 2026, the company reported:
- Revenue: €116.9 million (29% YoY, 35% at constant currency)
- Adjusted EBIT: €95.9 million (29% YoY), margin at 82%
- Net Profit: €91.2 million (47% YoY)
- Operating Cash Flow: €88.8 million (31% YoY)
Operational highlights include:
- 17 new proprietary games launched in Q2, up from 11 last year
- 17 games from third-party studios on the OpenRGS platform, compared to 11 last year
- 11 third-party studios on OpenRGS, with Good Times Studios and Aloha Gaming joining in Q2
- 354 games in the portfolio at the end of the quarter, up from 241 last year
- 15% YoY increase in daily rounds played in Q2
- Top 10 games accounted for 49% of GGR, up from 46% last year
- 40 locally licensed markets
- 106 deals in the quarter (63 with new clients)
- 308 employees, compared to 188 last year
Significant events during the quarter included:
- The board of directors dismissed CEO Kristoffer Chelberg and appointed board member Ana Vrabic Verdier as interim CEO while searching for a permanent leader.
- The annual shareholders' meeting on April 27 approved a dividend of €0.40 per share (€116 million total), which was paid out in May.
- Hacksaw entered new locally licensed markets, including Slovenia and Paraguay.
- After the quarter ended, Hacksaw received supplier registration in Alberta, Canada.
In her first report, interim CEO Ana Vrabic Verdier noted that the company has increased its game release pace from four to five per month, which she considers the new norm. She stated that revenue over the last 12 months reached €224 million (31% YoY, 37% at constant currency) and expressed confidence in the company's ability to continue executing its strategy in a large and growing global market.
The €116 million dividend represented 81% of Hacksaw's profits for 2025 and was the primary reason for the decrease in the company's cash from €176 million at the start of the quarter to €99.4 million. The absence of interest-bearing debt and a quarterly operating cash flow of €43.1 million enable the company to distribute nearly all profits to shareholders without resorting to borrowed funds.
Auditors did not review this interim report.