Digital solutions generate 64% of group revenue; net income rises 36% QoQ to ₱64.2 million as JKS investment approaches completion
| KEY HIGHLIGHTS
• Q3 2026 Revenue: Reached ₱443.0 million, up 153% year-on-year and 26% quarter-on-quarter. • Sustained Profitability: Net income rose 36% quarter-on-quarter to ₱64.2 million, marking PhilWeb’s third consecutive profitable quarter in 2026 (nine-month aggregate net income of approximately ₱125 million). • B2B Digital Mix: B2B digital solutions revenue increased 40% quarter-on-quarter to ₱281.3 million, accounting for approximately 64% of total group revenue. • EBITDA Growth & Margin: EBITDA reached ₱68.4 million, up 33% quarter-on-quarter, with an EBITDA margin of 15.4%. • Balance Sheet Strength: Cash reserves stood at ₱2.22 billion and shareholders’ equity improved to ₱1.895 billion at quarter-end. • Strategic Integration: PhilWeb’s strategic investment in JKS Tech Solutions is in the final stage of closing, with both parties exploring a deeper operational integration and control framework. |
MANILA, Philippines — November 13, 2026 — PhilWeb Corporation (PSE: WEB), a Philippine-listed provider of digital infrastructure and technology solutions to licensed gaming operators, reported third-quarter 2026 revenue of ₱443.0 million, up 153% from ₱175.2 million a year earlier and 26% from ₱352.4 million in the preceding quarter. Net income reached ₱64.2 million, an increase of 36% from ₱47.0 million in Q2 2026, marking the company’s third straight profitable quarter in 2026.
Selected Financial Highlights
The following summary table and charts present PhilWeb’s Q3 2026 financial results, segment revenue breakdown, profitability progression, and quarter-end balance sheet position.
| Financial / Operating Metric | Q3 2026 | Comparative Period | Period Change | YoY / Full Benchmark Details |
| REVENUE & BUSINESS SEGMENT MIX | ||||
| Total Group Revenue | ₱443.0M | ₱352.4M (Q2 2026) | +26% QoQ | +153% YoY (vs. ₱175.2M in Q3 2025) |
| B2B Digital Solutions Revenue | ₱281.3M | ₱200.3M (Q2 2026) | +40% QoQ | Core revenue growth driver |
| B2B Digital Share of Revenue (%) | 64.0% | 57.0% (Q2 2026) | +700 bps | Expanded from 57% share in Q2 2026 |
| Legacy Operations Revenue | ₱161.6M | ₱152.1M (Q2 2026) | +6% QoQ | Stable recurring operations baseline |
| Legacy Share of Revenue (%) | 36.0% | 43.0% (Q2 2026) | -700 bps | Rebalanced toward B2B digital services |
| PROFITABILITY & MARGIN PROGRESSION | ||||
| EBITDA | ₱68.4M | ₱51.5M (Q2 2026) | +33% QoQ | Substantially above ₱2.0M in Q3 2025 |
| EBITDA Margin (%) | 15.4% | 14.6% (Q2 2026) | +80 bps | Up from 1.1% margin in Q3 2025 |
| Quarterly Net Income | ₱64.2M | ₱47.0M (Q2 2026) | +36% QoQ | Q1 2026: ₱13.9M (3rd consecutive profit) |
| Net Profit Margin (%) | 14.5% | 13.3% (Q2 2026) | +120 bps | Net Profit Margin Expansion |
| QUARTER-END BALANCE SHEET POSITION | ||||
| Cash & Cash Reserves | ₱2.22B | ₱63.3M (YE2025) | +2.16B | Reflects 2026 financing & operating cash flow |
| Shareholders’ Equity / (Deficit) | ₱1.895B | (₱255.0M) (YE 2025) | +₱2.15B | Full turnaround from 2025 equity deficit |
*Note to Draft: Insert YE 2025 or Q2 2026 comparative cash balance and net change per final balance sheet prior to release.
Figure 1: Consecutive quarterly revenue progression from Q1 2026 (₱233.1 million) and Q2 2026 (₱352.4 million) to Q3 2026 (₱443.0 million, +26% QoQ), alongside the Q3 2025 prior-year benchmark (₱175.2 million, +153% YoY).
Figure 2: PhilWeb has recorded three consecutive profitable quarters in 2026, with quarterly net income rising from ₱13.9 million in Q1 to ₱64.2 million in Q3.
Figure 3: B2B digital solutions contributed approximately 64% (₱281.3 million) of group revenue in Q3 2026, while legacy operations remained steady at 36% (₱161.6 million).
Digital Transformation Becomes the Core Growth Engine
Revenue from PhilWeb’s B2B digital platform solutions increased 40% quarter-on-quarter to ₱281.3 million and represented approximately 64% of group revenue, compared with 57% in Q2 2026. This growth reflects the expanding role of hosted platforms, systems integration, digital infrastructure, and related technology services within the company’s business mix.
Legacy operations remained stable, contributing ₱161.6 million in quarterly revenue, an increase of approximately 6% from ₱152.1 million in the preceding quarter. Combined with the rapid expansion of digital solutions, this steady operational baseline provides a solid foundation for recurring technology and platform service engagements.
Three Consecutive Profitable Quarters
PhilWeb reported positive net income in each of the first three quarters of 2026, with quarterly profit rising from approximately ₱13.9 million in Q1 to ₱47.0 million in Q2 and ₱64.2 million in Q3, or approximately ₱125 million in aggregate for the nine-month period. This trajectory follows the company’s strategic shift toward higher-margin B2B digital services earlier in the year.
Third-quarter EBITDA reached ₱68.4 million, up 33% from ₱51.5 million in Q2 2026 and substantially above the ₱2.0 million recorded in the comparable 2025 quarter. EBITDA margin stood at 15.4%, while net profit margin was approximately 14.5%.
OkadaPlay Demonstrates Platform Scale
In October 2026, the PhilWeb-powered OkadaPlay platform surpassed ₱100 million in monthly gross gaming revenue (GGR) and 100,000 daily active users (DAU). Achieving this operating milestone on a partner-operated platform demonstrates the commercial scalability of PhilWeb’s digital infrastructure, establishing a proven model as other licensed operators within the network expand their digital operations toward similar volume thresholds.
| “The 40% quarter-on-quarter growth in our B2B digital business—alongside OkadaPlay crossing the ₱100 million monthly GGR mark in October—demonstrates that our platform model is delivering measurable commercial results at scale. We have built a replicable turnkey solution that combines hosted infrastructure, content aggregation, and AI-enabled compliance workflows, allowing licensed operators to scale their digital footprint rapidly while driving recurring platform revenue for PhilWeb.”
— Brian Ng, President of PhilWeb Corporation |
Broader Technology and Content Ecosystem
PhilWeb continues to broaden its B2B technology and content offering through relationships with international gaming suppliers, including Pragmatic Play and Games Global, together with additional content capabilities associated with JKS Tech Solutions and its partners, including MegaWin. These integrations complement PhilWeb’s core digital infrastructure and support a comprehensive service proposition for licensed operators.
PhilWeb’s expanding network of technology and platform relationships encompasses leading licensed operators including Okada Manila, Hann Resorts, NUSTAR, Newport World Resorts, PT Gaming, and FBM Philippines.
In parallel, PhilWeb has embedded AI-powered capabilities into its platform operations, including automated KYC verification and submission workflows, as well as real-time risk monitoring for withdrawal activities. These capabilities improve operating efficiency, streamline player onboarding and compliance workflows, and support the scalability of the company’s digital infrastructure.
JKS Investment Approaches Closing; Deeper Integration Framework
Under the parties’ previously disclosed cross-investment arrangements—which included JKS Tech Solutions’ acquisition of PhilWeb shares at an agreed strategic transaction price of ₱16.50 per share—PhilWeb’s corresponding investment in JKS has entered the final stages of closing.
As the strategic investment approaches its final closing stage, PhilWeb and JKS are exploring a deeper operational integration and control framework to bring together their complementary technology capabilities, content distribution networks, and operator relationships. The proposed integration is envisioned to significantly expand PhilWeb’s operating platform and, subject to the final structure and applicable accounting requirements, create a pathway toward financial consolidation.
Third-quarter 2026 financial results do not include any earnings contribution from JKS.
Strengthened Capital Position and Long-Term Strategy
PhilWeb ended the third quarter with reported cash reserves of ₱2.22 billion and shareholders’ equity of ₱1.895 billion, compared with a shareholders’ deficit of ₱255 million at the end of 2025. The company’s strengthened capital base reflects financing and balance-sheet initiatives completed during the year alongside improving operating profitability, providing substantial flexibility for ongoing technology investment and strategic expansion.
| “As the Philippine gaming industry continues its shift towards regulated digital channels, Philweb has the potential to become a scalable digital technology business serving licensed operators. Three consecutive quarters of surging profitability, combined with our strengthened capital position and the potential for deeper integration with strategic partners, support that long term direction and our ability to scale across a wider partner network. We believe this will eventually lead to sustained value creation that would translate to positive shareholder returns.”
— Lance Y. Gokongwei, Chairman of PhilWeb Corporation |
Looking ahead, PhilWeb remains focused on deepening relationships with licensed operators, expanding its digital platform and content capabilities, and executing strategic opportunities that reinforce its technology-first business model and long-term value creation.