Nexteq (LSE:NXQ) reported revenue of $26.7 million for the first half of 2026, a decline of 34% year-on-year, as lower demand from major gaming customers affected trading.
The technology solutions provider recorded an adjusted pretax loss of $4.0 million and a statutory pretax loss of $4.7 million. Adjusted loss per share was $0.08, while statutory loss per share was $0.09.
Gross margin declined to 30.3%, with Nexteq citing higher component costs, the annualisation of Everi’s consolidation and increased component pricing. Performance from Densitron provided a partial offset.
The company said lower volumes from major gaming customers reflected higher product costs and tariffs. Nexteq implemented restructuring and other cost-saving measures during the first half, which it said generated annual overhead savings of $1.3 million.
Nexteq returned $5.7 million to shareholders through share buyback programmes during the period.
The company maintained its full-year 2026 trading guidance, with order coverage standing at 83% at the end of August. Management expects challenging conditions in the land-based gaming market to continue through 2026 and 2027.
Nexteq also expects its cash balance to improve during the second half, supported by the unwind of a Taiwan mortgage and a property sale.
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