Galaxy Gaming anticipates 8% recurring revenue growth in Q2 despite Evolution deal falling through

In its first financial update since Evolution AB walked away from their merger, Galaxy Gaming has released preliminary Q2 2026 figures suggesting record recurring revenue and continued business momentum.

The supplier expects consolidated revenue for the three months ending 30 June 2026 to land between $7.8m and $7.9m. This compares with $7.5m in the same quarter of 2025 and $7.7m in the first quarter of 2026. Net income is projected at $0.9m to $1.0m, broadly flat against the $1.0m posted a year earlier, while adjusted EBITDA is forecast to rise to between $3.3m and $3.4m from $3.2m in Q2 2025.

According to Galaxy, the preliminary numbers reflect roughly 8% year-over-year growth in recurring revenue, driven by strength across both its digital and land-based core operations. The company attributed the uptick to deepening customer relationships and the performance of its proprietary gaming technology and content.

Evolution termination fallout

The results come just one day after Evolution confirmed it had terminated its long-pending acquisition of Galaxy, a deal first announced in 2024 and stuck in regulatory review for two years. Under the merger agreement, Evolution is expected to pay a termination fee of $5.23m. Both parties have said they plan to continue their existing commercial relationship despite the collapse of the takeover.

Strategic appointments and outlook

Galaxy recently appointed Anand Singh, a nearly 20-year veteran of Light & Wonder, as its new chief technology officer. The hire underscores the company’s focus on product development and independent growth following the abandoned merger.

Galaxy emphasised that the financial figures are preliminary and unaudited, subject to customary quarter-end review. Full Q2 results are scheduled for release on or around 7 August 2026.