TLDR
- Hacksaw Gaming posted Q1 2026 revenue of €57.6 million, up 28% year-over-year, with profit hitting €45.5 million
- The company released 27 new game titles and signed 79 commercial deals in the quarter
- Hacksaw secured an Online Gaming Service Provider license in Connecticut as part of its US expansion
- Nine partner studios are now active on its OpenRGS platform, with the total game portfolio reaching 320 titles
- Hacksaw Ventures continues investing in early-stage companies like Kitsune Studios and Jinx Gaming
Hacksaw Gaming kicked off 2026 with a strong first quarter, reporting revenue of €57.6 million. That figure represents a 28% increase compared to the same period last year.
Profit for the quarter came in at €45.5 million. Adjusted operating profit reached €47.4 million, with margins holding at 82%.
CEO Christoffer Källberg called it “a strong start of the year with solid growth and high margins.” He credited the results to the company’s focus on product development and increasing monetization.
The quarter saw the release of 27 new games. Twelve were built in-house, while 15 came from partner studios using the company’s OpenRGS platform.
By the end of March, nine studios were active on OpenRGS. Foxhound Games launched its first title through the platform in February.
Hacksaw’s Game Portfolio Hits 320 Titles
Hacksaw’s total game library grew to 320 titles during the quarter. The daily average number of rounds played over the past year jumped 43% compared to the prior twelve-month period.
Källberg pointed to these numbers as evidence of the strength of the company’s game portfolio and distribution network. He also highlighted the high pace of new releases as a key driver.
On the business development side, Hacksaw signed 79 commercial deals during Q1. That included 59 new client agreements.
Among the partnerships were deals with bet365 in Pennsylvania and William Hill in Italy. Delaware North was also listed as a new partner.
US Expansion Moves Forward With Connecticut License
A key development during the quarter was Hacksaw securing an Online Gaming Service Provider license in Connecticut. This adds to the company’s growing footprint in the US market.
Källberg said these agreements “continue to underscore our long runway for growth.” He added that the company’s strategy focuses on following its clients into priority markets.
Cash flow from operations stood at €45.7 million for the quarter. The company reported €176 million in cash and cash equivalents at the end of March, with no interest-bearing debt.
Källberg said the combination of revenue growth and high margins gives the company flexibility to invest while staying stable.
Beyond its core business, Hacksaw is putting resources into Hacksaw Ventures, its early-stage investment arm. The initiative has backed Kitsune Studios and Jinx Gaming so far.
Källberg described the venture arm as “an attractive and long-term capital allocation opportunity.” He noted that short-term financial impact from these investments would be limited but the strategic value is clear.
The company said it enters the second quarter with momentum and confidence. Hacksaw’s cash position of €176 million and zero debt give it room to pursue further deals and market entries in the months ahead.
