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Investing.com -- Hacksaw on Tuesday reported third-quarter revenue of €52.0 million, up 39% year-over-year and 15% sequentially, slightly below consensus estimates of €52.8 million.
The gaming company’s adjusted EBIT grew 29% to €42.1 million, 3% behind consensus expectations of €43.5 million, with margins at 80.9% compared to 82.5% in the same period last year.
Key performance metrics showed average daily game rounds increased 50% compared to the third quarter of 2024. The company has diversified its revenue streams, with the top ten games now contributing 45% of gross gaming revenue, down from 60% in the third quarter of 2024.
During the quarter, Hacksaw released 27 new games, bringing its total to 268. These included 12 in-house developed titles and 15 third-party games from six studios on its OpenRGS platform.
To meet full-year 2025 consensus expectations, Hacksaw needs to achieve 43% revenue growth in the fourth quarter compared to the third quarter’s 39% growth, with margins of 82.3% versus the current 80.9%. Analysts note this is achievable given the company’s historical fourth-quarter seasonality patterns.
For the full fiscal year 2025, consensus targets project 49% revenue growth (compared to 52% year-to-date) and 45% adjusted EBIT growth (44% year-to-date), with an expected margin of 82.0%.
The slight margin decrease in the third quarter was attributed to increased third-party content and higher headcount, according to the report.
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