Key Highlights
- First quarter 2026 revenue reached €57.6 million for Hacksaw Gaming, marking a 28% increase from the previous year, with profits of €45.5 million
- Twenty-seven game titles launched during the period alongside 79 new commercial agreements
- Connecticut Online Gaming Service Provider license obtained, advancing the company’s United States market strategy
- OpenRGS platform now hosts nine active partner studios, bringing the complete game catalog to 320 titles
- Early-stage investment division Hacksaw Ventures maintains positions in Kitsune Studios and Jinx Gaming
Hacksaw Gaming delivered impressive financial performance in the opening quarter of 2026, recording €57.6 million in total revenue. This performance reflects a robust 28% expansion when measured against the corresponding quarter from the previous year.
The operator generated €45.5 million in profit during the three-month period. Adjusted operating profit stood at €47.4 million, maintaining healthy margins of 82%.
CEO Christoffer Källberg characterized the performance as “a strong start of the year with solid growth and high margins.” He attributed the positive outcome to concentrated efforts in product innovation and enhanced revenue optimization strategies.
Twenty-seven new gaming titles entered the market during the quarter. The company developed twelve internally, while partner studios contributed fifteen through the OpenRGS platform.
As March concluded, nine independent studios were actively developing content on OpenRGS. Foxhound Games debuted its inaugural title via the platform in February.
Game Catalog Expands to 320 Total Offerings
Hacksaw’s comprehensive gaming collection expanded to 320 distinct titles throughout the quarter. The daily average of game rounds completed over the trailing twelve months surged 43% versus the prior annual period.
Källberg referenced these metrics as validation of both the company’s game development capabilities and its distribution infrastructure. He emphasized that the accelerated release schedule serves as a fundamental growth catalyst.
Regarding business partnerships, Hacksaw executed 79 commercial agreements in the first quarter. This total encompassed 59 fresh client relationships.
Notable collaborations included partnerships with bet365 for Pennsylvania operations and William Hill across Italy. Delaware North also joined as a distribution partner.
Connecticut Licensing Propels United States Market Penetration
A significant milestone emerged when Hacksaw obtained an Online Gaming Service Provider license in Connecticut during the quarter. This credential expands the company’s regulated presence across American jurisdictions.
Källberg stated these partnerships “continue to underscore our long runway for growth.” He emphasized that the company’s expansion blueprint centers on supporting existing clients as they enter strategic territories.
Operational cash generation totaled €45.7 million for the quarter. The business held €176 million in cash and equivalent liquid assets as of March 31, carrying zero interest-bearing obligations.
Källberg noted that combining revenue expansion with sustained profitability margins provides the organization with financial flexibility for continued investment while preserving stability.
Beyond primary operations, Hacksaw continues allocating capital through Hacksaw Ventures, its early-stage investment division. Current portfolio holdings include Kitsune Studios and Jinx Gaming.
Källberg framed the venture initiative as “an attractive and long-term capital allocation opportunity.” He acknowledged that near-term financial contributions from these investments would remain modest while emphasizing their strategic importance.
The organization indicated it’s entering the second quarter with positive momentum and market confidence. Hacksaw’s substantial cash reserves of €176 million combined with its debt-free balance sheet position the company favorably for additional partnerships and market launches throughout the remainder of 2026.
