Golden Matrix (GMGI)2025-03-24 12:05Revenue Growth - Fourth quarter revenue increased by 81% to $46 million, while full-year revenue rose by 63% to $151 million[6] - Meridianbet reported a 14% growth in full-year revenue to $106 million, with online revenue up 18% to $80 million[7] - Total revenues for the twelve months ended December 31, 2024, were $151.12 million, a 62.5% increase from $92.99 million in 2023[27] - For Q1 2025, the company expects revenue between $42 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 $27 million, and full-year gross profit increased by 30% to $89 million[6] - Gross profit for the same period was $88.57 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 $6.5 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 $22.19 million, up from $21.25 million in 2023[32] Financial Position - Cash reserves stood at $30 million, providing financial flexibility for future investments[6] - Total current assets increased to $45.07 million in 2024 from $26.93 million in 2023, driven by higher cash and inventory levels[25] - Cash and cash equivalents increased to $30.13 million in 2024 from $20.41 million in 2023, indicating improved liquidity[25] - Total liabilities rose to $104.77 million in 2024, compared to $19.87 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 $13.70 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 $13.07 million in 2023[27] - Operating expenses for the twelve months ended December 31, 2024, were $85.83 million, up from $54.48 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]