From Yahoo Finance: 2025-05-08 12:23:00

Golden Matrix Group Inc. (NASDAQ: GMGI) experienced record highs in revenue, ticket sales, and prize values in its raffle segment, with a 146% increase in user registrations. The company retired $9.6 million in debt, converted $9.5 million in acquisition-related debt to equity, and reported a 72% YoY increase in Q1 revenue to $42.7 million.

Gross profit hit $24.2 million with a 57% margin, and Meridianbet segment’s gross margin improved to 72%. Meridianbet obtained new licenses in Brazil, Nigeria, and Serbia, and expanded its U.S. presence through Expanse Studios. Full-year revenue guidance is set at $190M–$195M, driven by tech investments and global growth.

Golden Matrix’s CEO highlighted the company’s operational efficiency and strengthened financial position, with adjusted EBITDA at $5.6 million. Meridianbet CEO emphasized operational progress, securing licenses in Brazil, Nigeria, and Serbia, along with expanding in North America through Expanse Studios. The company reaffirmed its full-year 2025 revenue guidance of $190M–$195M.

Read more: Golden Matrix Q1 Revenue Soars as Global Expansion Accelerates