Leading iGaming provider Hacksaw Gaming has kicked off the fiscal year with exceptional momentum, reporting a Q1 revenue of €57.6 million.
This figure represents a 28% increase compared to the same period last year. The company’s profitability also saw a significant boost, climbing to €45.5 million, with adjusted operating margins holding steady at a remarkable 82%.
Strategic Execution and Product Cadence
CEO Christoffer Källberg described the period as a testament to the company’s resilient business model. In a formal statement, he noted:
“A strong start of the year with solid growth and high margins. The results reflected the successful execution of our strategy of product development and increasing monetisation.”
Despite global economic headwinds, Hacksaw maintained a high release cadence, dropping 27 new titles during the quarter. This included 12 in-house developments and 15 titles from partner studios via the OpenRGS platform. The expansion of the portfolio to 320 games contributed to a 43% increase in the daily average number of rounds played compared to the previous twelve-month period.
Källberg highlighted this as proof of “the strength of our game portfolio, our high release cadence of new games, and our strong distribution network”.
US Expansion and Future Investments
Global reach remains a primary pillar for Hacksaw, which secured a new Online Gaming Service Provider license in Connecticut this quarter. The firm signed 59 new client agreements, bringing its total active deals to 79, including high-profile partnerships with bet365 and William Hill.
Beyond content delivery, the company is doubling down on its investment arm, Hacksaw Ventures. The initiative has already backed Kitsune Studios and Jinx Gaming. Källberg emphasized the long-term value of these moves:
“We continue to see attractive opportunities to use our strong cash generation to invest in early-stage companies within our ecosystem where we can capture significant potential by providing both capital and strategic support to founders.”
With €176 million in cash and zero interest-bearing debt in Q1, Hacksaw enters Q2 with the financial flexibility to aggressively pursue new ventures while maintaining market stability.
