Philippine-listed gaming and technology firm DFNN Inc. reported a sharp decline in first-quarter 2026 revenue, posting PHP53.6 million ($870,575) for the three months ended March 31st, down 48.6 percent from PHP104.4 million ($1.7 million) in the same period last year, according to the company’s filing.
The PHP50.7 million ($823,157) decline in top-line revenue was primarily driven by a steep fall in commission income from its licensed gaming operations. Commission income dropped 68.4 percent to PHP17.3 million ($280,936) during the quarter from PHP54.8 million ($889,899) a year earlier. DFNN attributed the decline to the delinking of its online gaming platform from e-wallet providers.
Net loss for the period widened to PHP155 million ($2.5 million), compared with a PHP99.8 million ($1.6 million) loss in the first quarter of 2025. EBITDA loss also widened to PHP95.2 million from PHP56.6 million a year earlier.
Service fee income, generated from software development and maintenance, declined 22.5 percent to PHP28.2 million ($457,941), while revenue from the company’s LottoMatik contract with the Philippine Charity Sweepstakes Office fell 30.9 percent to PHP5.7 million ($92,562).
Despite the revenue contraction, DFNN said it continued expanding its InPlay.ph ecosystem with new sub-brands, additional gaming content, and payment integrations. The group also broadened its land-based gaming network and enhanced its InstaWin terminals during the quarter.
