GIGSDB
GIG Software specializes in developing innovative software solutions for various industries, focusing on enhancing business efficiency and productivity through technology. Sector: Technology | Indust...
GiG Software (Q3 Review): Solid results and positive outlook
Redeye updates on GiG Software after Q3-results which were in line with our forecasts while the company reiterated a positive outlook with unchanged short-term and long-term guidance. The company looks to set to end the year strongly with continued growth and profitability improvement, on the back of growth from existing and new customer launches. Q3-results in line with expectations with reported revenue of EUR9.7m (growth of 31%) and adjusted EBITDA of EUR1.2m (EBITDA-margin of 13%), while Redeye’s forecasts were EUR9.8m and EUR1.2m, respectively. Topline growth was supported by existing and new customer launches while solid cost control yielded margin expansion. The company ended the quarter with a cash position of EUR4.7m, which was strengthened to EUR12.9m by the end of October, following the earlier announced directed share issue raising EUR11m.