Golden Matrix Returns to Profitability With Record Q3 Revenue Growth

Golden Matrix Group Inc. (NASDAQ: GMGI) reported a significant return to profitability in the third quarter of 2025, posting net income of $0.4 million compared to a $3.3 million loss in the same period last year. The online gaming technology company achieved record quarterly revenue of $47.3 million, representing 15% year-over-year growth from $41 million in Q3 2024.

The company's improved financial performance was driven by strong growth across both business-to-business and business-to-consumer divisions, with gross profit increasing 18% to $26.4 million and gross margin expanding to 56%. Adjusted EBITDA showed even stronger improvement, rising 32% to $5.7 million, supported by disciplined cost management and higher operating efficiency.

Perhaps most notably, Golden Matrix has made substantial progress in strengthening its balance sheet, reducing total debt by $25.9 million (37%) to $45.1 million since December 31, 2024. This deleveraging effort has improved the company's net debt leverage ratio to 1.2 times annual Adjusted EBITDA, providing greater financial flexibility heading into the final quarter.

CEO Brian Goodman attributed the strong performance to the company's portfolio strength and disciplined execution, noting steady momentum across key markets, particularly in Latin America. The company's Meridianbet subsidiary delivered particularly strong results, with revenue rising 26% year-over-year to $32.5 million, driven by 30% growth in online casino gross gaming revenue to $14.6 million and 25% growth in sports betting revenue to $13.3 million.

Other business segments also showed robust performance. RKings delivered record revenue of $7.4 million, up 14% year-over-year, while advancing its new customer relationship management system rollout. Classics for a Cause demonstrated strong sequential growth, with registrations up 72% and new VIPs increasing 82%. The segment's August Holden Torana campaign broke company records, generating $776,000 in sales from 10,000 packages and 1,700 new customers.

Looking ahead, Golden Matrix tightened its full-year 2025 revenue guidance to between $186 million and $187 million, representing 23-24% growth over 2024. The company expects Q4 2025 revenue between $52.7 million and $53.7 million, an increase of 15-17% year-over-year. CFO Rich Christensen emphasized that margin expansion continues to be fueled by disciplined cost management and operational leverage, with the company entering the final quarter with strong visibility and confidence in its ability to drive sustained, long-term value for shareholders.

The company's improved financial position and return to profitability signal a significant turnaround for the gaming technology firm, which has successfully navigated challenging market conditions while expanding its global footprint. The full visual presentation and earnings call can be accessed at 9:00am ET on the Golden Matrix Group IR website at https://goldenmatrix.com/events-presentations/.