Golden Matrix Group reported a strong third quarter with record revenue and a return to profitability, driven by broad-based growth across its B2B and B2C segments, particularly in Latin America. The company demonstrated improved margins and disciplined cost management, leading to deleveraging and a strengthened balance sheet.
Revenue reached a record $47.3 million, up 15% year-over-year, driven by growth in online casino and raffle operations.
positiveGross profit increased 18% to $26.4 million, with gross margin expanding 111 basis points to 56%, reflecting marketing optimization and favorable product mix.
positiveReturned to profitability with net income of $0.4 million, a significant improvement from a $3.3 million net loss in Q3 2024.
positiveAdjusted EBITDA grew 32% year-over-year to $5.7 million, with a 12% margin, supported by disciplined cost management and operational efficiency.
positiveOrganic revenue growth was 14% year-over-year, excluding acquired entities.
positiveTotal debt reduced by $25.9 million (-37%) since December 31, 2024, improving net debt leverage to 1.2x annual Adjusted EBITDA.
positiveSelling, general and administrative expenses increased by $3.4 billion (14.5%) year-over-year for the three months ended September 30, 2025.
attentionLoss from operations for the three months ended September 30, 2025, was $0.4 million, compared to a loss of $1.0 million in the prior year period.
attentionInventory increased by $1.74 billion (44.2%) year-over-year as of September 30, 2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Meridianbet | N/A | — | — | — |
RKings | N/A | — | — | — |
Classics for a Cause | N/A | — | — | — |
GMAG | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
This quarter highlights how the strength of our portfolio and disciplined execution continue to translate into profitable growth.
We're seeing steady momentum across key markets—particularly in Latin America—supported by product innovation, operational efficiency, and strong engagement across both B2B and B2C segments.
Meridianbet's exceptional performance is a significant portion of this success, a testament to our innovative platform, integrated gaming ecosystem, strategic expansions, and unwavering commitment to delivering superior user experiences.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.