Golden Matrix Group Inc. (NASDAQ: GMGI), a leading developer and operator of online gaming platforms, has released its financial and operational results for the second quarter ended June 30, 2025. The company reported a 9.6% year-over-year growth in total revenue, reaching $43.2 million, despite facing challenges from customer-friendly sports outcomes within its European business. This growth was supported by a 4.5% benefit from foreign exchange.
Operational highlights include a 30% increase in wager volume at Meridianbet and a 124% surge in new registrations, driven by product enhancements and the successful launch in Brazil. The company's gross profit stood at $24.4 million, with a gross margin of approximately 56%, marking a 135-basis point improvement over the prior year. However, Golden Matrix reported a net loss of $3.6 million, attributed to increased operating costs and interest expenses from debt prepayment.
CEO Brian Goodman commented on the resilience of the company's raffle ticket businesses, particularly RKings Competitions, which achieved record-breaking daily revenues. Meridianbet, Golden Matrix's subsidiary, also showcased strong performance with a 16% year-over-year revenue growth to $29.2 million, highlighting the success of its online and casino segments.
Looking ahead, Golden Matrix anticipates full-year 2025 revenue to range between $185 million and $188 million, reflecting a growth rate of 22% to 24% over 2024. The company remains focused on expanding its presence in regulated markets and enhancing its proprietary technology stack to drive shareholder value.
For more details on Golden Matrix's Q2 2025 results, visit https://goldenmatrix.com/events-presentations/.
