Key Highlights
- First quarter 2026 revenue reached €57.6 million for Hacksaw Gaming, marking a 28% year-over-year increase, while profit totaled €45.5 million
- During the three-month period, the provider launched 27 titles and executed 79 commercial agreements
- The firm obtained an Online Gaming Service Provider license in Connecticut, advancing its United States market strategy
- Its OpenRGS platform now hosts nine active partner studios, bringing the complete game catalog to 320 titles
- Through Hacksaw Ventures, the company maintains investments in emerging firms including Kitsune Studios and Jinx Gaming
Hacksaw Gaming delivered impressive financial performance in the opening quarter of 2026, announcing revenue of €57.6 million. This total reflects a year-over-year gain of 28% when measured against the corresponding 2025 period.
The company’s profit for the first three months stood at €45.5 million. Adjusted operating profit was recorded at €47.4 million, maintaining robust margins of 82%.
CEO Christoffer Källberg characterized the performance as “a strong start of the year with solid growth and high margins.” He attributed these outcomes to the organization’s emphasis on product innovation and enhanced monetization strategies.
The provider brought 27 new gaming titles to market during this timeframe. Internal development teams produced 12 of these releases, while the remaining 15 originated from partner studios utilizing the OpenRGS infrastructure.
As March concluded, nine development studios were actively creating content on OpenRGS. Foxhound Games debuted its inaugural title via the platform in February.
Game Catalog Expands to 320 Titles
The gaming library from Hacksaw expanded to 320 titles by quarter’s end. Daily average gameplay rounds over the trailing twelve months increased 43% versus the previous year.
Källberg referenced these metrics as validation of both the company’s game quality and its distribution capabilities. He emphasized that the accelerated release schedule continues to serve as a critical growth catalyst.
Regarding business expansion, Hacksaw finalized 79 commercial agreements throughout Q1. This total encompassed 59 fresh client partnerships.
Notable collaborations included arrangements with bet365 for Pennsylvania operations and William Hill across Italy. Delaware North also joined as a new commercial partner.
Connecticut Licensing Accelerates US Market Entry
A significant milestone during the period involved Hacksaw obtaining an Online Gaming Service Provider license in Connecticut. This authorization expands the company’s regulatory presence across United States jurisdictions.
Källberg stated these partnerships “continue to underscore our long runway for growth.” He emphasized that the firm’s approach centers on entering markets where existing clients operate or plan expansion.
Operational cash flow totaled €45.7 million for the quarter. The organization held €176 million in cash and equivalents at March’s conclusion, carrying no interest-bearing obligations.
Källberg noted that combining revenue expansion with strong margins provides the business with investment flexibility while maintaining financial stability.
Beyond primary operations, Hacksaw allocates capital through Hacksaw Ventures, its early-stage investment division. This initiative has supported Kitsune Studios and Jinx Gaming among other ventures.
Källberg characterized the investment vehicle as “an attractive and long-term capital allocation opportunity.” He acknowledged that near-term financial contributions from these holdings would remain modest while delivering strategic advantages.
The company indicated it begins the second quarter with positive momentum and organizational confidence. Hacksaw’s cash reserves of €176 million coupled with a debt-free balance sheet position it favorably for additional partnerships and market expansions throughout 2026.
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