Hacksaw reported a strong first quarter for 2026, with revenue rising 28% year on year to €57.6 million. Adjusted operating profit, or EBIT, increased 27% to €47.4 million, while the adjusted EBIT margin stayed high at 82%, down slightly from 83% a year earlier. Group CEO Christoffer Källberg described the quarter as a strong start to the year.
Profit after tax reached €45.5 million, up just over 51%, and cash flow from operating activities increased to €45.7 million from €40.8 million. Revenue growth was 37% on a constant-currency basis, showing that exchange-rate effects weighed on the reported figure.
Margins remained strong despite a small dip
The 82% adjusted EBIT margin remains one of the highest in the sector. Even though it was slightly below the 83% recorded a year earlier, Hacksaw kept tight control of costs while continuing to grow.
The company is still converting a large share of revenue into profit, even as it expands. The quarter also showed that growth was not limited to sales alone, with profit and operating cash flow both moving higher.
Company continues to invest while growing
The business remained focused during a period of wider macroeconomic uncertainty. The company has also signalled interest in investing in early-stage firms, alongside its core gaming business.
Hacksaw did not publish formal full-year guidance in the Q1 report, but its long-term targets remain annual revenue growth above 30% and adjusted EBIT margins above 80%. On that measure, the first quarter kept the company broadly in line with its stated model.
New games and platform growth supported the quarter
During the quarter, Hacksaw released 27 new games, including titles developed in-house and by third-party studios. Its OpenRGS platform also expanded to nine third-party studios, with the total game catalogue reaching 320 titles.
The Q1 result shows a company that is still growing quickly while keeping margins at a very high level. Revenue, profit and cash flow all moved up, and the 82% EBIT margin remained the clearest sign of Hacksaw’s earnings strength.
