INTERIM REPORT | JANUARY – SEPTEMBER 2025

“A QUARTER OF STRONG SEQUENTIAL GROWTH”

Third quarter: 1 July – 30 September

• Total revenue increased by 39% to EUR 52.0 million (37.3).
• Adjusted operating profit (EBIT) increased by 29% to EUR 42.1 million (32.6), with a margin of 81% (87). Adjustments mainly comprise IPO-related advisory costs.
• Profit for the period amounted to EUR 38.7 million (30.4), and fully diluted earnings per share amounted to EUR 0.134 (0.106).
• Cash flow from operating activities amounted to EUR 36.7 million (15.7).

Year to date: 1 January – 30 September

• Total revenue increased by 52% to EUR 142.4 million (93.4).
• Adjusted operating profit (EBIT) increased by 44% to EUR 116.5 million (81.1), with a margin of 82% (87). Adjustment mainly comprises IPO-related advisory costs.
• Profit for the period amounted to EUR 100.8 million (76.4), and fully diluted earnings per share amounted to EUR 0.348 (0.267).
• Cash flow from operating activities amounted to EUR 104.3 million (50.5).

Key events during the third quarter of 2025

• Hacksaw’s games were made available in the locally licensed iGaming market Pennsylvania in July, thereby being available in over 35 locally licensed markets.
• Launch of 12 (10) in-house developed games.
• Launch of 15 (6) games developed by third party studios on the Hacksaw game development platform.
• 50% year on year increase in average daily number of rounds played on Hacksaw’s portfolio of games.

Key events after the third quarter

• The number of shares and votes in Hacksaw increased to 289,195,987, following the subscription of shares through exercise of warrants under Hacksaw’s warrant program for employees.
• Hacksaw has been approved as a gaming service provider in Alberta, Canada.

Summary of results and key figures

*Adjusted primarily for advisory costs related to the initial public offering. For more information, please refer to Note 5: Items affecting comparability.

Invitation to webcast and telephone conference

The interim report will be presented via webcast and telephone conference on 4 November 2025 at 09:30 (CET).

Webcast: https://hacksaw.events.inderes.com/q3-report-2025/register

Telephone conference: https://conference.financialhearings.com/teleconference/?id=5002388

After registration to the telephone conference via the above link, you will be provided with telephone numbers and a conference ID to access the conference.

For more information, please contact:
Per Alnefelt, Group CFO
E-mail: ir@hacksawgroup.com

This information is information that Hacksaw is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-04 07:33 CET.

About Hacksaw
Hacksaw AB (publ) is a B2B technology platform and game development company. The scalable and modular platform, built on a modern code base, enables rapid development and distribution of games. Games developed by Hacksaw comprise digital slots, scratch cards, and instant win games. We operate across the whole B2B iGaming value chain, from game development to distribution and our customers comprise some of the largest private and state-owned iGaming operators in the industry. Hacksaw’s shares are listed on Nasdaq Stockholm (HACK).

Attachments
Interim Report Q3 2025