Golden Matrix (US:GMGI)2024-08-15 01:04Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2024 grew 75% to $39.4 million, with year-to-date revenue increasing by 41% to $64.3 million [8] - Net income for the quarter was $15,000, affected by non-cash items and one-off acquisition costs [8] - Consolidated adjusted EBITDA remained consistent at $5.4 million, while gross profit increased by 31% to $21.7 million [8][9] - The company maintained a healthy balance sheet with over $40 million in cash and equivalents, a 96% increase from December 2023 [9] Business Line Data and Key Metrics Changes - R Kings Competitions generated revenues of over $9.6 million, a 43% increase year-over-year, with 386,000 total players [9] - GMAG platform saw wagering grow by 124% to $1.2 billion, with gross gaming revenue increasing by 187% to $38 million [10] - MexPlay casino reported cash deposits up 297% to $1.2 million and gross gaming revenues grew by 154% to $422,000 [11] Market Data and Key Metrics Changes - Meridianbet's revenues increased by 11.4% compared to Q2 2023, with online segment growth at 14% [12] - Total deposits for Meridianbet reached $59.2 million, reflecting a 16% growth year-over-year [12] - The online casino sector within Meridianbet recorded a 17% revenue growth, supported by the addition of new games [13] Company Strategy and Development Direction - The company aims to achieve annual revenues of over $150 million and adjusted EBITDA of over $13 million by 2025 [22] - Plans to continue scaling through acquisitions and investing in new markets to expand global footprint [22] - Focus on operational excellence and driving enhanced shareholder value while maintaining double-digit growth [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing future opportunities and maintaining significant growth [21] - The successful consolidation with Meridianbet is expected to drive strong growth across all sectors [6][20] - Continued investment in technology and AI is anticipated to enhance player experiences and drive results [16] Other Important Information - The company has a robust balance sheet with significant cash reserves, allowing for potential acquisitions and debt management [21] - Meridianbet is expanding into new jurisdictions, including Brazil, Peru, and South Africa, which are projected to offer substantial growth opportunities [15][17] Q&A Session Summary - The conference call concluded without a formal Q&A session, as indicated by the operator's closing remarks [20]