The positive data directly reflects the group's strong execution in regulated gaming markets. In total, the organization recorded US$ 43 million in revenue and a growth of 72% in the quarterly comparison.
Brian Goodman, CEO of Golden Matrix, commented on his company's momentum: "We enter fiscal 2025 with high operational efficiencies and diversified revenue streams that continue to grow in the market. Our segment has reached all-time highs, our debt profile has strengthened significantly, and our B2B and B2C businesses are operating in positions of renewed financial and strategic strength."
Keep reading the article and understand more about GMGI's highlights that have taken the brand to a new level in the iGaming sector and have made the company a global reference.
Highlights from GMGI's quarterly report
Golden Matrix Group (NASDAQ: GMGI) reported solid results in Q1 2025, reinforcing its position as one of the fastest-growing iGaming industry groups in regulated international markets around the world.
Among its main results released, it highlights its number in revenue, with an increase of 72% compared to the previous year, reaching the US$ 43 million ed. Thus, its gross profit reached US$ 24.2 million with a consolidated margin of 57%
It is also worth noting that, even though it already maintains a low debt-to-equity ratio, the company further reduced its leverage with the early repayment of US$ 9.6 million in debt and the conversion of another US$ 9.5 million in liabilities related to acquisitions into shares.
Financial perspective for 2025
In view of the organization's positive outlook, Golden Matrix expects 2025 annual revenue to be between $190 million and $195 million, reflecting a growth rate of 26% to 29% compared to 2024.
To achieve these results, the company continues to invest in technology, content and international licenses to generate long-term value for shareholders. In this context, it is important to note that Meridianbet is the first in Southeast Europe to receive Oracle recognition, for its AI-driven approach to customer engagement, automation, and scalable marketing solutions.
Importantly, this is a selection of the best customer projects around the world, which seeks to highlight innovation, scalability, and real-world impact. In addition, the achievement is shared by only 5% of companies in the field.
Rich Christensen, CFO of Golden Matrix, added: "We are executing a disciplined capital allocation and long-term strategic investments. Our growing net leverage, healthy free cash flow and scalable platform position us to accelerate growth in 2025 and beyond."
Golden Matrix Group's recent measures
Contributing to its results in 2025, some of Golden Matrix Group's (GMGI) key measures for the positive outlook deserve to be highlighted.
Among them, a move that drew attention to the group's optimistic future was the conversion of more than $9.5 million in debt related to the acquisition into Meridianbet's equity.
The transaction not only strengthens the company's financial statement, but also highlights the alignment of the main executives with the organization's long-term vision for its expansion in the international market, in which it already appears in operation in more than 19 countries.
In addition, GMGI has fully paid the outstanding principal of Lind Global's Senior Secured Promissory Note in the amount of $7.2 million.
The action, carried out in advance, was much celebrated among its investors. This is because the company strengthens its position in the market by reaching a payment agreement financed with its own cash. In other words, no action was diluted in its entire process.
Other important actions worth mentioning was the record performance in the segment, in which they recorded a growth of 146% compared to the previous year, with 26,000 new registrations in the first quarter.
Expanse Studios, Meridianbet's game development division, has also carried out five new integrations with US sweepstakes casino platforms.
The studio has also advanced in the portfolio of crash-type games, and licensing in Romania is scheduled for the 2nd quarter of 2025.
These actions reinforce Golden Matrix Group's proactive and strategic stance on its trajectory of sustainable and consolidated growth in the global iGaming sector.
By reducing debt and strengthening its cash for investments, the company demonstrates financial maturity, long-term vision and strong execution capacity for its investors.
Meridianbet Highlights
Having a major role in the evolution of the Golden Matrix Group brand, Meridianbet, a company in which it is a subsidiary of the group, gained great prominence for the organization's positive quarter, mainly due to the period of strong progress in licensing and operational expansion in key markets.
For better idea, the organization won its definitive authorization to operate in Brazil, granted directly by the Secretariat of Prizes and Betting (SPA) of the Ministry of Finance (MF).
With this approval, the platform is officially regulated to operate in the country until December 31, 2029, guaranteeing a five-year license.
In addition, the company was one of the first to recently secure its license renewal to continue distributing online games in Serbia for the next 10 years. The renewal reinforces the company's long-term operational stability in the region, ensures uninterrupted operations and reliable revenue stream.
Finally, the organization also entered operations in the Nigerian market, one of the largest in Africa.
It is important to understand that the country's market is worth more than US$ 2 billion, according to research by Orange Business Intelligence Technology, with more than 60 million Nigerians actively participating in betting, directly contributing to the growth of the sector on the continent.
Meridianbet's advancements in key markets reinforce its strategic role within the Golden Matrix Group ecosystem, boosting the group's global performance and consolidating its position among the leading iGaming operators in the world.
About Golden Matrix Group
Headquartered in Las Vegas, Golden Matrix Group is a technology company that operates in the B2B and B2C segments of the iGaming sector. That is, directly with casino games and sports betting.
The organization operates globally through an ecosystem composed of strategic brands that strengthen its performance in various regulated markets.
If you are interested in more updates about GMGI, visit the Group's Investor Relations page or follow us on social media.
https://x.com/meridianbet_br
Source: GMB
