Workflow
Golden Matrix (GMGI) - 2025 Q1 - Quarterly Results
GMGIGolden Matrix (GMGI)2025-03-24 12:05
Transcript

Revenue Growth - Fourth quarter revenue increased by 81% to 46million,whilefull−yearrevenueroseby6346 million, while full-year revenue rose by 63% to 151 million[6] - Meridianbet reported a 14% growth in full-year revenue to 106million,withonlinerevenueup18106 million, with online revenue up 18% to 80 million[7] - Total revenues for the twelve months ended December 31, 2024, were 151.12million,a62.5151.12 million, a 62.5% increase from 92.99 million in 2023[27] - For Q1 2025, the company expects revenue between 42millionand42 million and 45 million, representing year-over-year growth of 69% to 80%[8] Profitability - Gross profit for the fourth quarter grew by 45% to 27million,andfull−yeargrossprofitincreasedby3027 million, and full-year gross profit increased by 30% to 89 million[6] - Gross profit for the same period was 88.57million,comparedto88.57 million, compared to 68.24 million in the previous year, reflecting a gross margin improvement[27] - Adjusted EBITDA for the fourth quarter rose by 69% to 6.5million,whileforthefullyearitincreasedby46.5 million, while for the full year it increased by 4% to 22.2 million[6] - Adjusted EBITDA for the twelve months ended December 31, 2024, was 22.19million,upfrom22.19 million, up from 21.25 million in 2023[32] Financial Position - Cash reserves stood at 30million,providingfinancialflexibilityforfutureinvestments[6]−Totalcurrentassetsincreasedto30 million, providing financial flexibility for future investments[6] - Total current assets increased to 45.07 million in 2024 from 26.93millionin2023,drivenbyhighercashandinventorylevels[25]−Cashandcashequivalentsincreasedto26.93 million in 2023, driven by higher cash and inventory levels[25] - Cash and cash equivalents increased to 30.13 million in 2024 from 20.41millionin2023,indicatingimprovedliquidity[25]−Totalliabilitiesroseto20.41 million in 2023, indicating improved liquidity[25] - Total liabilities rose to 104.77 million in 2024, compared to 19.87millionin2023,primarilyduetoincreasedcurrentliabilities[26]LossesandExpenses−NetlossattributabletoGMGIforthetwelvemonthsendedDecember31,2024,was19.87 million in 2023, primarily due to increased current liabilities[26] Losses and Expenses - Net loss attributable to GMGI for the twelve months ended December 31, 2024, was 1.48 million, a significant decline from a net income of 13.70millionin2023[27]−Thecompanyreportedacomprehensivelossof13.70 million in 2023[27] - The company reported a comprehensive loss of 6.19 million for the twelve months ended December 31, 2024, compared to a comprehensive income of 13.07millionin2023[27]−OperatingexpensesforthetwelvemonthsendedDecember31,2024,were13.07 million in 2023[27] - Operating expenses for the twelve months ended December 31, 2024, were 85.83 million, up from 54.48millionin2023,reflectingincreasedinvestmentinoperations[27]StrategicInitiatives−ThecompanyplanstoenhanceAI−drivengaminginnovationandexpandintonewregulatedmarkets,includingLatinAmericaandEurope[15]−Thecompanyaimstopursuestrategicacquisitionstoincreasemarketshareandproductofferings[15]−GMAGB2Bgamingplatformsawwageringvolumesurgeby8454.48 million in 2023, reflecting increased investment in operations[27] Strategic Initiatives - The company plans to enhance AI-driven gaming innovation and expand into new regulated markets, including Latin America and Europe[15] - The company aims to pursue strategic acquisitions to increase market share and product offerings[15] - GMAG B2B gaming platform saw wagering volume surge by 84% to 4.7 billion, driven by AI-powered engagement tools[7] Share Metrics - The weighted average ordinary shares outstanding increased to 113.51 million in 2024 from 83.48 million in 2023, impacting per-share metrics[27] Growth in Game Portfolio - Expanse Studios achieved 174% revenue growth in 2024, expanding its portfolio to 55 proprietary games[8]