Hacksaw Gaming has announced another quarter of exceptional financial growth for Q3 2025, propelled largely by its strategic expansion into the North American iGaming market.
The company’s continued push into regulated jurisdictions has resulted in a significant surge across all major financial metrics, solidifying its position as one of the fastest-growing entities in the global regulated sector.
For the third quarter of 2025, revenue saw a dramatic increase of 39%, climbing to €52 million from €37.3 million in the same period last year. The company demonstrated remarkable operational efficiency, with the adjusted operating profit (EBIT) reaching €42.1 million, translating to an impressive 81% margin.
Net profit for the quarter rose to €38.7 million, up from €30.4 million in Q3 2024. Diluted earnings per share (EPS) settled at €0.134, while operating cash flow nearly doubled, reaching €36.7 million.
The impressive momentum continued when looking at the first nine months of 2025. Total revenue for this period reached €142.4 million, representing a 52% increase compared to the previous year. Adjusted EBIT for the nine months held an equally strong 82% margin, reaching €116.5 million.
Cumulative profit for the period surged to €100.8 million, substantially up from €76.4 million. Correspondingly, diluted EPS grew to €0.348, and operating cash flow more than doubled to a significant €104.3 million.
A critical catalyst for this accelerated growth in Q3 2025 was the successful debut of Hacksaw Gaming in the Pennsylvania iGaming market in July. This market entry expands the company’s regulatory reach to over 35 jurisdictions worldwide. Furthermore, the securing of a new gaming service provider license in Alberta signals a continuous deepening of its North American footprint.
Product innovation remains central to the firm’s success. During Q3, Hacksaw launched 12 new in-house titles and integrated 15 partner games, all powered by its proprietary development platform. The robust player engagement with this fresh content is evident, as the average daily game rounds across the company’s portfolio increased by 50% compared to the prior year.
Following the close of the quarter, the company’s total number of shares increased to 289,195,987, largely due to employees exercising warrants as part of their incentive program, further aligning internal stakeholders with the company’s trajectory.
