Hacksaw Gaming reports robust 31 percent revenue growth in Q2 2026

Hacksaw Gaming continues its upward trajectory with impressive figures. The Nasdaq Stockholm-listed supplier presented its interim report for the first half of 2026 on July 21. The second quarter stands out particularly, with the company achieving 31 percent revenue growth compared to the previous year. The data shows a clear upward trend since the listing in June 2025. The company is benefiting from a massive expansion of its portfolio and new partnerships with third-party studios.

Beyond purely financial successes, there were significant personnel changes. During the quarter, Ana Vrabic Verdir was appointed interim group chief executive. She replaced the previous CEO while the company simultaneously strengthened its presence in new markets. With a focus on regulated markets and a high frequency of new releases, Hacksaw is solidifying its position as one of the most relevant suppliers for online casinos worldwide. The stability of profit margins despite high investments in new markets like Canada is drawing attention from market observers.

Numbers and facts

During the period from April 1 to June 30, 2026, Hacksaw generated total revenue of 59.3 million Euro. In the previous year, this figure was 45.4 million Euro. Excluding currency fluctuations, growth was actually a strong 33 percent. Adjusted operating profit (EBIT) also saw a significant jump, rising by 31 percent to 48.4 million Euro. Notably, the adjusted EBIT margin was kept constant at 82 percent. Adjustments mainly related to IPO-related expenses and severance payments.

Profit for the quarter climbed to 45.7 million Euro, up from 32.0 million Euro in the same period last year. This results in diluted earnings per share of 0.158 Euro. Looking at the entire first half of 2026, from January to June, Hacksaw reached a revenue of 116.9 million Euro. This represents a 29 percent increase compared to the 90.4 million Euro from the previous year. Cash flow from operating activities also developed positively, reaching 88.8 million Euro for the half-year.

Background

Hacksaw Gaming is not resting on these numbers but is pushing forward with product development. In the reporting quarter, 17 in-house games were released. Additionally, 17 titles from partner studios were launched via the company's own OpenRGS platform. With Good Times Studios and Aloha Gaming, the company gained two new partners, bringing the network to a total of eleven studios. The commercial team was also busy, closing 106 deals, with 63 involving entirely new clients.

„The strong revenue growth from previous quarters continued in Q2. The group’s in-house release cadence had risen to five games a month." - Ana Vrabic Verdir, Interim Group Chief Executive at Hacksaw AB

Geographically, Hacksaw is entering more areas. The Swedish company's content is now live in more than 40 locally licensed markets. Slovenia and Paraguay were added during the current reporting period. Shortly after the end of the quarter, a significant success was recorded in North America. The company secured supplier registration in Alberta, Canada. This allows Hacksaw to supply licensed operators in the province under the new gambling framework.

Why it matters for German players

For German players, these news are an important signal of quality and stability. Hacksaw Gaming is among the providers that consistently focus on regulation. Since the company is licensed in over 40 markets, the strict rules of the German Interstate Treaty on Gambling 2021 (GlüStV 2021) play a central role in its strategic direction. Players in Germany using providers from the official whitelist of the Joint Gambling Authority of the States (GGL) often find the popular Hacksaw slots there.

Expansion and financial success mean more resources can flow into compliance with technical standards. German players must adhere to the 1 Euro per spin limit and the monthly deposit limit of 1,000 Euro via the LUGAS system. Providers like Hacksaw specifically adapt their software to these German requirements to guarantee GGL compliance. High growth ensures that innovative games will continue to be developed that are fun and safe despite regulatory restrictions in Germany. The focus on licensed markets also protects players from shady offshore offers, as Hacksaw optimizes its top titles primarily for regulated environments.

What it means for GGL-licensed casinos

Operators of legal German online casinos benefit from the stability of a listed partner. The fact that Hacksaw closed 106 new deals in one quarter underlines the brand's attractiveness. For GGL-licensed casinos, it is essential to offer content that is popular with customers while fulfilling all regulatory requirements. Hacksaw delivers exactly that. Integration via the OpenRGS platform makes it easier for German platforms to provide a broad portfolio without having to negotiate individually with dozens of small studios.

As Hacksaw is now also registered in Alberta and expanding globally, confidence in the brand is growing among regulatory authorities. A stable company with a profit margin of 82 percent is a reliable partner for long-term cooperation regarding LUGAS connectivity or compliance with panic button requirements. German casinos can rely on technically sound products being delivered that withstand the scrutiny of the GGL while offering high payout ratios in a secure framework.