The listed gaming technology firm swung to a P61 million profit in the first half of 2026, reversing a P41.8 million loss a year earlier as revenue jumped 63.3 percent to P585.4 million.
PhilWeb provides technology and services for regulated online gaming, including digital platforms, gaming content, system integration and operational support for licensed operators.
Management’s view
“The rapid sequential growth and margin expansion in the second quarter validate the massive operating leverage of our digital gaming solutions segment,” Philweb president Brian Ng said in a statement on Tuesday.
“By empowering tier-one licensed operators and global content providers, we are establishing a comprehensive, regulatory-compliant digital ecosystem that drives long-term commercial value,” he added.
New owners, new direction
The turnaround follows a change in ownership completed earlier this year, which paved the way for PhilWeb to pursue a new business direction centered on digital gaming.
That expansion has brought PhilWeb into business with major casino operators, including Hann Casino Resort, Okada Manila and Newport World Resorts, alongside agreements involving FBM Philippines and NUSTAR Online.
Costs and expenses rose at a slower 33.2 percent to P520.1 million, helping lift PhilWeb’s net income margin to 10.4 percent from negative 11.6 percent a year earlier.
Balance sheet still stretched
The earnings turnaround has yet to repair its balance sheet, with P741.9 million in liabilities exceeding P548.5 million in assets, leaving PhilWeb with negative equity of P193.5 million at end-June.
Liquidity improved, with its current ratio rising to 0.45 from 0.27, although current assets still covered less than half of short-term liabilities.
—Edited by Miguel R. Camus
