Core Insights - Golden Matrix Group (GMGI) reported mixed earnings for Q2 2025, with a 9.6% year-over-year revenue increase but falling short of analyst expectations for both revenue and EPS [1][5][11] Financial Performance - GAAP revenue for Q2 2025 was $43.2 million, missing the estimate of $46.4 million by approximately $3.2 million [1][2] - GAAP EPS was reported at ($0.03), compared to an expected ($0.00), marking a 100% decline year-over-year [2][5] - Gross margin improved to 56%, a 1.35 percentage point increase from the previous year [2][5] - Adjusted EBITDA decreased to $3.4 million, down 36.4% from $5.4 million in Q2 2024 [2][6] Operational Highlights - The Meridianbet segment was a key driver of growth, with a 16% year-over-year revenue increase and a 20% rise in online channel revenue [7] - Casino gaming products saw a 29% increase in gross gaming revenue, with total casino turnover reaching $434 million, a 30% increase [7][8] - The company's raffle ticket business (RKings) set new daily revenue records, with a 40% increase over previous records [8] Strategic Focus - GMGI's strategy includes geographic expansion, particularly through the acquisition of Meridianbet Group, and enhancing product offerings [4][11] - Management maintained its full-year revenue guidance of $185–188 million, indicating a projected growth of 22–24% over FY2024 [11][12] - The company is focusing on managing operating costs and integration expenses following rapid market expansion [12]