Hacksaw posts 31% revenue growth in second quarter of 2026
The Nasdaq Stockholm-listed supplier also confirmed a new Alberta supplier registration and an interim chief executive in its first half-year report as a public company.
Hacksaw AB published its interim report for the first half of 2026 on 21 July, its fourth set of quarterly results since listing on Nasdaq Stockholm in June 2025. The first half of the year covered the period from 1 January to 30 June.
Second-quarter revenue up 31%
Hacksaw reported total revenue of EUR 59.3 million for the second quarter, up 31% year on year from EUR 45.4 million. On a constant currency basis, growth was 33%.
Adjusted operating profit (EBIT) rose 31% to EUR 48.4 million, keeping the adjusted EBIT margin flat at 82%. Adjustments were mainly linked to IPO-related expenses and severance pay to the former group chief executive.
Profit for the quarter came to EUR 45.7 million, against EUR 32.0 million a year earlier, with diluted earnings per share of EUR 0.158. Cash flow from operating activities was EUR 43.1 million.
First-half figures
For the six months to 30 June, revenue reached EUR 116.9 million, a 29% increase, or 35% on a constant currency basis.
Adjusted EBIT was EUR 95.9 million, also up 29%, at an 82% margin.
Profit for the half-year totalled EUR 91.2 million, with diluted earnings per share of EUR 0.315.
Hacksaw’s first-half 2026 results at a glance
| Metric | H1 2026 (Jan–Jun) | H1 2025 (Jan–Jun) | Change |
| Total revenue | EUR 116.9 million | EUR 90.4 million | +29% (+35% constant currency) |
| Adjusted EBIT | EUR 95.9 million | EUR 74.4 million | +29% |
| Adjusted EBIT margin | 82% | 82% | Flat |
| Profit for the period | EUR 91.2 million | EUR 62.1 million | +47% |
| Diluted earnings per share | EUR 0.315 | EUR 0.212 | +49% |
| Operating cash flow | EUR 88.8 million | EUR 67.6 million | +31% |
Game releases, new studios and a leadership change
Hacksaw launched 17 in-house games during the quarter alongside 17 titles from third-party studios on its OpenRGS platform. Good Times Studios and Aloha Gaming joined as partner studios, bringing the total to 11. The commercial team closed 106 deals in the quarter, of which 63 were new clients, and Hacksaw’s content is now live in more than 40 locally licensed markets, with Slovenia and Paraguay added during the period.
Ana Vrabic Verdir, a board member of Hacksaw AB, was appointed interim group chief executive during the quarter. ‘The strong revenue growth from previous quarters continued in Q2,’ she said, adding that the group’s in-house release cadence had risen to five games a month.
Shareholders approved a dividend of EUR 0.40 per share at the annual general meeting on 27 April, a total payout of EUR 116 million, distributed in May.
Alberta registration follows quarter close
After the quarter ended, Hacksaw secured a supplier registration in Alberta, Canada, allowing it to supply licensed operators in the province under its new gambling framework.
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