GiG completed its restructuring and closed 2024 with a loss
Gaming Innovation Group (GiG) has reported its results for 2024, showing a net loss of €80.2 million. The main reason for this result was the company’s split into two independent entities: Gentoo Media, focused on affiliate marketing, and GiG Software, providing platform solutions and betting services.
Financial Results for Q4 2024
| Indicator | Value |
|---|---|
| Revenue | €8.8 million, which is 3% lower compared to Q4 2023. |
| Net Loss | €6.0 million, compared to a €3.9 million loss in the same period last year. |
| Adjusted EBITDA | €0.1 million, lower than €1.1 million in Q4 2023. |
| Operating Loss (EBIT) | €6.1 million, compared to €3.8 million loss in Q4 2023. |
Annual Results for 2024
| Indicator | Value |
|---|---|
| Revenue | €31.8 million, which is 16% lower compared to 2023. |
| Net Loss | €80.2 million, compared to a €4.6 million loss in 2023. |
| Adjusted EBITDA | €-3.0 million, significantly lower than €11.1 million in 2023. |
| Operating Loss (EBIT) | €79.0 million, compared to €4.8 million loss in 2023. |
| Cash | €6.3 million, lower than €10.6 million at the end of 2023. |
Forecast for 2025
- Expected Revenue: €44 million.
- Adjusted EBITDA: at least €10 million.
At the time of the report’s publication, Gentoo Media shares were trading at €1.88, and GiG Software shares were priced at €0.4.
It is worth noting that in Q3 2024, following its separation from Gentoo’s media business, GiG reported revenues of €7.3 million.
These figures did not include “client exits and corporate revenue,” while corporate revenue showed a 25% increase compared to Q3 2023.
Costs related to the spin-off and special items led to a loss of €1.1 million in adjusted EBITDA for Q3.
GiG’s CEO, Richard Carter, expressed confidence that as of October 1, 2024, the company officially became a separate listed entity. He noted that GiG can now focus on continuous product development and updating its market entry strategy, aiming both to attract new customers and expand its presence in new territories. This renewed focus will allow the team to achieve the company’s medium- and long-term growth ambitions.