Hacksaw Gaming (Hacksaw AB) shares fell sharply on October 12 after the Swedish gaming supplier reported slower revenue growth in its preliminary third-quarter 2026 update. The company cited softer market conditions and weaker game performance compared with recent reporting periods. Shares fell 27.24% to SEK59.40 in Stockholm following the announcement.

The projected revenue increase was also below the approximately 30% annual growth target mentioned in coverage of the company’s performance. Hacksaw Gaming said its long-term financial targets remain unchanged despite the weaker quarterly growth.

Revenue Growth Moderates as Market Conditions Weigh

For the three months ended September 30, Hacksaw AB expects revenue of €57.5 million to €58.5 million, compared with €52 million in the same period of 2025. Adjusted operating profit is projected to reach €48 million to €49 million, with an adjusted operating margin of approximately 83%, up from 81% a year earlier.

The company said fluctuations between reporting periods are characteristic of the content business. CEO Ana Vrabic Verdir acknowledged the slower expansion while emphasizing the supplier’s ongoing commercial activity.

“Growth in the third quarter of 2026 was more moderate than during our recent history. At the same time, we continue to expand our customer base through new signings and focus on extending our reach into additional markets with our existing customers. Our commercial momentum remains strong, and our development team is well positioned to continue delivering the quality content we are known for. We look forward to discussing the quarter in more detail in connection with our interim report that is expected to be published on 3 November 2026,” said the group CEO.

Hacksaw is scheduled to publish its interim report on November 3, providing further detail on its financial and operational performance.

New Partnerships and Product Development Remain Priorities

Hacksaw is expanding its portfolio through new and existing OpenRGS partnerships, creating additional opportunities to distribute its games. The company is also discussing potential partnerships for Hacksaw Ventures, its venture arm, with the aim of supporting businesses that could diversify its offering.

Product development remains another priority. Toward the end of the third quarter, Hacksaw launched a crash game as it explored additional gaming categories. The company intends to maintain its focus on game quality, broaden its portfolio’s appeal and give players more opportunities to engage with its content.

Its commercial expansion also includes a recently announced agreement with Sazka Hry, the Czech online casino brand operated by Allwyn Česko. The partnership extends Hacksaw’s distribution in the Czech Republic and strengthens its presence in Central Europe.

Sazka Hry has developed its casino offering around proprietary and exclusive games, drawing on Allwyn’s international experience and its own understanding of the local market. Lukáš Bouzek, head of casino product at Sazka Hry, described the operator’s position and strategy.

“Combining the heritage and trust of the Sazka brand with Allwyn’s international expertise, Sazka Hry has established itself as a leading force in the Czech online casino market,” said Lukáš Bouzek, head of casino product of Sazka Hry. “Through a strategy focused on exclusive content, premium player experiences, and long-term innovation, Sazka Hry has built the market’s strongest portfolio of proprietary and exclusive games. This unique offering, together with local market expertise and a commitment to responsible gaming, positions Sazka Hry as the benchmark for online casino entertainment in the Czech Republic.”

Marcus Cordes, operational CEO of Hacksaw, highlighted the operator’s established position in the Czech market. “Sazka Hry is one of the most established names in Czech gaming, which makes this one of our most significant placements in the region. We’re looking forward to building on this partnership in Central Europe.”

Investors will receive a fuller picture of the company’s performance when Hacksaw publishes its interim report on November 3. The results should provide more detail on the factors affecting the quarter and the company’s progress toward its longer-term objectives.