Huuuge Games, a Warsaw-headquartered mobile gaming company listed on the Warsaw Stock Exchange under ticker HUGP, disclosed a $120 million share buyback program during its second-quarter 2026 results presentation on September 17.
The company reported Q2 revenue of $50.9 million, down 13.4% from a year earlier and 9.9% quarter-over-quarter. The figure narrowly missed analyst forecasts by approximately $60,000, or 0.12%. Adjusted EBITDA came in at $19.8 million, a 17.5% decline year-over-year, with adjusted EBITDA margin contracting 2 percentage points to 39%. Gross profit fell 7% to $41.1 million, while operating profit dropped 19.7% to $16.7 million and net income fell 18.1% to $14.1 million.
The company ended the quarter with $137 million in cash and cash equivalents, up $36.4 million from year-end 2025. Operating cash flow for the quarter totaled $20.8 million, bringing first-half free cash flow to $40 million against full-year 2025 free cash flow of $73.3 million.
Daily active users across the company’s core franchises declined 14.5% year-over-year, though monetization per user improved. Average revenue per daily active user rose 1.5% to $2.24, while average revenue per paying user increased 2.3%. Direct-to-consumer revenue accounted for a record 42.5% of the top line in Q2, up from 41% in the first quarter and reaching roughly 44.9% in July.
Huuuge CEO Wojciech Wronowski said the company’s strong balance sheet and ongoing cash generation support both capital distribution and its iGaming ambitions, which he does not see as mutually exclusive. He also noted the firm achieved its strongest revenue day in several years following a recent product release, tied to an economy update deployed September 7 and a major meta-layer launch on September 14, with a larger update expected in November.
CFO Maciej Hebda emphasized that in a market declining low single digits, reducing the share count through buybacks would be the primary driver of per-share growth.
The $120 million buyback program, equivalent to 164% of 2025 free cash flow, is expected to retire more than 16 million shares. The company also cited the first half of 2027 as the best current estimate for launching real-money iGaming.
Following the presentation, Huuuge Games’ shares rose 0.43% to $23.20, trading within a 52-week range of $20.55 to $25.95.
