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Golden Matrix Group (GMGI) investor relations material

Golden Matrix Group Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary30 Oct, 2025

Executive summary

  • Completed the acquisition of MeridianBet Group, effective April 1, 2024, resulting in a reverse merger and recapitalization, with MeridianBet Group as the accounting acquirer.

  • Achieved record Q3 revenue of $47.3M, up 15% year-over-year, with a return to profitability at $0.4M net income after a $3.3M loss in Q3 2024.

  • Expanded operations to over 15 jurisdictions, with a diversified portfolio including online sports betting, casino, SaaS solutions, and prize competitions in the UK and Australia.

  • Acquired 80% of Classics Holdings (Australia) and 100% of Media Games Malta, further broadening the business footprint.

  • Debt reduced by $25.9M since December 2024, improving net debt leverage to 1.2x annual Adjusted EBITDA.

Financial highlights

  • Revenue for the quarter ended September 30, 2025, was $47.3M, up 15% year-over-year; nine-month revenue was $133.3M, up 27%.

  • Gross profit for the quarter was $26.4M, up 18% year-over-year, with margin expansion to 56%.

  • Net income attributable to shareholders for the quarter was $0.6M, compared to a net loss of $3.4M in the prior year; nine-month net loss was $3.2M, compared to net income of $0.7M in the prior year.

  • Adjusted EBITDA for the quarter was $5.7M, up 32% year-over-year; nine-month Adjusted EBITDA was $14.8M, compared to $15.7M in the prior year.

  • Cash on hand at quarter-end was $22.0M; total debt was $45.1M as of September 30, 2025.

Outlook and guidance

  • FY 2025 revenue guidance tightened to $186–$187M (+23–24% YoY), with Q4 2025 revenue expected at $52.7–$53.7M (+15–17% YoY).

  • Management believes current cash and proceeds from the ATM offering are sufficient for at least 12 months of operations.

  • Additional funding may be required to meet post-closing obligations from the MeridianBet acquisition and to repay $15.7M in debt due in 2026.

  • Up to $17.6M remains available for future equity sales under the ATM program.

  • Focus remains on regulated market expansion, operational efficiency, and sustained growth into 2026.

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Frequently asked questions

Golden Matrix Group Inc. (GMGI) is a gaming technology company that develops, licenses, and operates online gaming platforms primarily for casino, sportsbook, and competition products. The company offers highly configurable and scalable platforms tailored to both B2B (business-to-business) and B2C (business-to-consumer) markets. Its B2B solutions include white-label gaming platforms used by operators across various international markets, particularly in the Asia Pacific region. The B2C side of the business is represented by brands like MexPlay, an online casino in Mexico, and RKings, a competition-focused platform in the UK and Ireland. The company is headquartered in Las Vegas, Nevada, and its shares are listed on the NASDAQ.

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