Golden Matrix Group reported third‑quarter revenue of $47.3 million, up 15 % from $41 million in the same period last year. Net income rose to $0.4 million, the first profit in several quarters, while gross profit reached $26.4 million, an 18 % increase year‑over‑year. Adjusted EBITDA climbed to $5.7 million, a 32 % rise, and the company reduced total debt by $25.9 million, leaving a balance of $45 million and a net debt leverage of 1.2× adjusted EBITDA.
In the preceding quarter, revenue was $43.2 million and the company posted a net loss of $3.6 million, indicating a sequential improvement in both top‑line and profitability. The jump in revenue and the shift to profitability underscore the effectiveness of recent operational initiatives.
Revenue growth was driven primarily by the online casino and raffle segments, with the Meridianbet acquisition contributing $32.5 million in revenue—a 26 % year‑over‑year increase. The B2B aggregator platform GMAG also added to the top line, while sports‑betting operations continued to expand in regulated markets such as Brazil.
Golden Matrix Group updated its fiscal‑year 2025 revenue outlook to $186 million–$187 million, representing 23 %–24 % year‑over‑year growth. This guidance confirms the company’s confidence in sustaining momentum and reflects a slight upward adjustment from the previous $185 million–$188 million range.
The results highlight the impact of technology investments and market expansion, particularly the integration of Meridianbet and the rollout of the GMAG platform. The company’s debt reduction strengthens its financial position, providing flexibility for future acquisitions and continued growth in a competitive iGaming and sports‑betting landscape.
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