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Golden Matrix Group (GMGI) investor relations material
Golden Matrix Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue grew 10% year-over-year to $43.2M, with gross profit of $24.4M and margin expansion to 56%.
Net loss was $3.6M or $0.03 per share, driven by higher operating costs and $1.5M in interest expense from debt prepayment.
MeridianBet acquisition completed, resulting in a reverse merger and expanded operations in over 15 jurisdictions.
Raffle ticket business, especially RKings, achieved record daily sales and strong July/August performance.
Operational momentum included a 30% increase in wager volume and 124% growth in new registrations at Meridianbet.
Financial highlights
Gross profit reached $24.4M with a gross margin of 56%, up from 55% last year.
Adjusted EBITDA declined 37% year-over-year to $3.4M, with margin down to 8%.
Cash and cash equivalents at quarter end were $22.1M; net debt leverage ratio improved to 1.5x.
Net loss of $3.6M for Q2 2025, compared to a profit in the prior year.
Working capital deficit of $24.6M as of June 30, 2025, mainly due to current debt and acquisition payables.
Outlook and guidance
Full-year 2025 revenue guidance set at $185M–$188M, representing 22%–24% growth over 2024.
July revenue in Europe rebounded, up 25% sequentially and year-over-year in constant currency.
Management expects continued revenue growth through product expansion and new market entries.
Cash on hand of $22.1M is considered sufficient for at least 12 months of operations, but additional funding may be needed for debt and acquisition obligations.
Up to $18.76M in additional equity may be raised under the existing at-the-market program.
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