Gentoo Media announces restatement of previously issued financial statements

Gentoo Media announces restatement of previously issued financial statements

BIRKIRKARA, Malta, Nov. 18, 2025 /PRNewswire/ -- Gentoo Media today announces that its Audit Committee, with the assistance of external counsel and the appointed group auditor, has completed a comprehensive review of the company's financial reporting.

As part of this review, a number of errors were identified in previously reported financial information. These include certain misstatements that were known and previously assessed as immaterial during the audit of the 2024 financial statements, as well as newly identified items. When evaluated collectively, the Board of Directors concluded that the aggregate impact is material and that a restatement is required to ensure complete, accurate and reliable financial information.

Accordingly, Gentoo Media will restate figures previously reported in:

• the audited consolidated financial statements for the fiscal year ended 31 December 2024, and
• the unaudited consolidated interim financial statement for third quarter 2024 of the fiscal year ending 31 December 2024, and
• The unaudited consolidated interim financial statement for fourth quarter 2024 of the fiscal year ending 31 December 2024, and
• the unaudited consolidated interim financial statements for the first and second quarters of the fiscal year ending 31 December 2025        

including the necessary flow-through adjustments to affected line items and disclosures.

The corrected amounts and their financial impact are described in the Q3 2025 Interim Report, published 18 November 2025. The net impact of the review is to reduce reported revenue and profit in 2024 and to increase revenue and profit reported for the 6 months to June 30th 2025. There is no impact on cash.

The decision to restate reflects Gentoo Media's commitment to transparency and high-quality financial reporting, following the company's separation from GiG's Platform and Sportsbook operations. Strengthening of the financial control environment has been a priority in 2025, and the company will continue to enhance reporting accuracy, governance standards and operational integrity going forward.

Gentoo Media will maintain an open dialogue with investors, analysts and other stakeholders to ensure clarity regarding the adjustments and their implications.

For further information, contact:

Mikael Harstad, Chairman of the Board, mikael.harstad@g2m, +46 737674852
Jonas Warrer, CEO, jonas.warrer@g2m.com, +45 3078 8450
Mads Haugegaard Albrechtsen, CFO, mads.albrechtsen@g2m.com, +45 3070 1041

About Gentoo Media

Gentoo Media is a leading iGaming affiliate, connecting operators with high-value players through premium lead generation and compliance solutions. Its portfolio includes AskGamblers, Time2Play, CasinoTopsOnline, WSN and Casinomeister - sites trusted by millions worldwide. Through innovation, transparency and strategic partnerships, Gentoo delivers sustainable growth and measurable success. Gentoo Media Inc. is listed on Nasdaq Stockholm (G2M). Visit www.gentoomedia.com to learn more.

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SOURCE Gentoo Media Inc