PhilWeb Posts US$1 Million Third-Quarter Profit
PhilWeb Corporation, a Philippines-listed provider of business-to-business (B2B) gaming technology services, has returned to profit in the third quarter, reporting net income of PHP64.2 million (approximately US$1 million) as consolidated revenue more than doubled year-on-year. The result marks the company’s third consecutive profitable quarter in 2026, underscoring a sustained turnaround driven primarily by its digital gaming solutions business.
Third-quarter revenue reached PHP443.0 million, an increase of 152.9 percent from PHP175.2 million recorded in the same period a year earlier, according to company disclosures. The quarterly performance also improved sequentially, with revenue up 26 percent from the second quarter of 2026.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to PHP68.4 million in the quarter, a 33 percent increase from PHP51.5 million in the second quarter and substantially higher than the PHP2.0 million reported in the prior-year period. The figures reflect improving operating leverage as the company’s digital offerings scale.
The third-quarter result builds on a recovery that began earlier in the year. PhilWeb reported a return to profitability in the first quarter of 2026, which the company attributed to its scalable e-gaming infrastructure and margin improvements. In the second quarter, the group swung to a profit of approximately US$769,000 as revenue rose 96 percent year-on-year. For the first half of 2026, net income stood at PHP61 million, representing a PHP102.8 million improvement over the corresponding period of the previous year.
The company’s recent performance represents a marked shift from 2025, when full-year revenue declined to PHP659.4 million and the group recorded a net loss of PHP218.9 million. Management has credited the turnaround to a strategic reorientation of the business, with new leadership refocusing operations on digital and online gaming solutions following regulatory changes affecting the company’s traditional retail e-games business.
Under its new management, PhilWeb has been pursuing a growth strategy centred on its online gaming portfolio. The company has indicated plans to expand its network of online gaming outlets from approximately 90 toward 100 through a strategic partnership with a gaming operator. PhilWeb President Brian Ng had earlier outlined the group’s strategic direction in comments to industry media in April, at a time when the company’s recovery plan was taking shape.
The company’s improved results have also been reflected in its market performance, with PhilWeb ranking among the better-performing stocks on the Philippine Stock Exchange in recent months.
