Golden Matrix (US:GMGI)2024-11-12 17:40Financial Data and Key Metrics Changes - In Q3 2024, consolidated revenues grew 85% to $41 million, continuing a strong trend from the previous quarter. Year-to-date revenue increased by 55% to $105 million [7] - Consolidated gross profit for Q3 rose by 39% to $22.4 million, with year-to-date gross profit increasing by 24% to $61.8 million [7] - Adjusted EBITDA for Q3 was reported at $4.3 million, with a healthy balance sheet showing over $38.4 million in cash and equivalents and short-term debt of $17.5 million [8] Business Line Data and Key Metrics Changes - RKings competitions faced a brief challenge in customer acquisition but has shown a strong recovery with an 11.1% revenue increase in October compared to September [9][10] - GMAG, the B2B aggregator platform, saw wagering grow by 84% to $1.4 billion in Q3, with year-to-date wagering increasing by 115% to $3.6 billion [11] - Classics for a Cause, acquired on August 1, 2024, contributed $2.1 million in revenues and $503,000 in EBITDA for just two months of operation [12] - Mixed Play, the Mexican online casino, reported a 56% increase in active players, with cash deposits rising by 25% to $1.5 million in Q3 [13] Market Data and Key Metrics Changes - Merdianbet's total revenue increased by 16% in Q3 2024, driven by a 19% increase in the online segment and a 6% growth in the retail segment [14] - Online casino gross gaming revenue margin rose to 3.37%, with quarterly turnover reaching $356.4 million, marking a 21% year-over-year increase [15] - Total deposits for Merdianbet rose to $61.9 million, a 13% increase from Q2 2024 [14] Company Strategy and Development Direction - The company is focused on scaling operations, improving cost efficiencies, and enhancing profitability through product synergies and reduced redundancies [23][24] - There is a strong emphasis on expanding the game portfolio and introducing high-margin games to improve gross margins [10][11] - The company is optimistic about future growth opportunities and is well-positioned for accretive acquisitions [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to operate more efficiently and improve profitability following the integration of recent acquisitions [23] - The outlook for Q4 is strong, with expectations for record-setting performance and sustained momentum into the future [24] Other Important Information - The company has introduced AI-powered tools to enhance user engagement and retention, resulting in measurable improvements in player activity [20] - Merdianbet executed 68 CSR initiatives, reinforcing brand community impact and driving long-term shareholder value [21] Q&A Session Summary - The Q&A session concluded without specific questions or answers being documented in the provided content [25]