Key Highlights
- Q1 2026 revenue reached €57.6 million for Hacksaw Gaming, marking a 28% year-over-year increase, while profit totaled €45.5 million
- Twenty-seven game titles launched during the quarter alongside 79 new commercial agreements
- Connecticut granted Hacksaw an Online Gaming Service Provider license, advancing the company’s United States market presence
- The OpenRGS platform now hosts nine active partner studios, expanding the complete game catalog to 320 titles
- Early-stage investments through Hacksaw Ventures include backing for Kitsune Studios and Jinx Gaming
Hacksaw Gaming delivered impressive financial results for the first quarter of 2026, recording €57.6 million in revenue. This performance marks a significant 28% uptick when measured against the corresponding quarter from the previous year.
The gaming developer achieved a profit of €45.5 million during this period. Meanwhile, adjusted operating profit stood at €47.4 million, maintaining strong margins of 82%.
Chief Executive Officer Christoffer Källberg characterized the quarter as “a strong start of the year with solid growth and high margins.” He attributed the positive performance to strategic emphasis on product innovation and enhanced revenue generation capabilities.
The three-month period witnessed the introduction of 27 fresh game titles. Internal development teams created twelve of these releases, while the remaining 15 originated from partner studios leveraging the company’s OpenRGS platform.
As of March 31st, the OpenRGS platform supported nine active studio partnerships. Notably, Foxhound Games debuted its inaugural title on the platform in February.
Game Catalog Expands to 320 Titles
Hacksaw’s comprehensive game collection expanded to 320 titles by quarter’s end. The average daily rounds played over the trailing twelve months demonstrated remarkable growth of 43% compared to the previous year.
Källberg interpreted these metrics as validation of both the company’s game development capabilities and its distribution infrastructure. He emphasized that the aggressive release schedule played a crucial role in driving engagement.
Regarding business development initiatives, Hacksaw finalized 79 commercial partnerships throughout Q1. This total encompassed 59 brand-new client relationships.
Notable collaborations included agreements with bet365 for the Pennsylvania market and William Hill for Italian operations. Delaware North also joined the partner roster during this period.
Connecticut Licensing Strengthens US Market Strategy
A significant milestone during the quarter involved obtaining an Online Gaming Service Provider license from Connecticut authorities. This regulatory approval strengthens the company’s expanding presence across United States markets.
Källberg emphasized that such partnerships “continue to underscore our long runway for growth.” He explained that the company’s approach centers on supporting clients as they enter strategic markets.
Operational cash flow totaled €45.7 million for the quarter. The organization maintained €176 million in cash and equivalent liquid assets as of March 31st, carrying zero interest-bearing obligations.
Källberg noted that combining revenue expansion with robust profit margins provides the organization with strategic flexibility for investment while preserving financial stability.
Beyond core operations, Hacksaw continues allocating resources to Hacksaw Ventures, its dedicated early-stage investment division. Current portfolio companies include Kitsune Studios and Jinx Gaming.
Källberg positioned the venture initiative as “an attractive and long-term capital allocation opportunity.” He acknowledged that while near-term financial contributions from these investments remain modest, their strategic importance is substantial.
The company expressed confidence entering Q2, supported by strong momentum from the opening quarter. With €176 million in available cash and no debt obligations, Hacksaw maintains significant capacity for additional partnerships and geographic expansion throughout the coming months.
