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Golden Matrix Group (GMGI)
NASDAQ:GMGI
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Earnings Data
Report Date
Jan 15, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$0.02Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -24.16%
|Next Earnings Date:Jan 15, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong growth narrative with significant revenue increases and expansion into new markets, supported by strategic investments in technology and AI. However, the call also highlighted challenges such as decreased net income due to acquisition costs and declines in certain margins, indicating a mixed but largely positive outlook.Company Guidance
During the Golden Matrix Group's Q2 2024 earnings call, the company reported a robust 75% increase in consolidated revenue to $39.4 million and a year-to-date revenue growth of 41% to $64.3 million. Despite net income being $15,000, impacted by noncash items and acquisition costs, the consolidated adjusted EBITDA remained steady at $5.4 million. The company also highlighted a 31% rise in gross profit to $21.7 million. The balance sheet showed significant strength with cash and equivalents over $40 million, a 96% increase since December 2023, and a net debt leverage ratio of 1.6. Additionally, the R Kings Competitions platform achieved record revenues of $9.6 million, while GMAG's second quarter wagering surged by 124% to $1.2 billion. Meridianbet's integration was smooth, contributing to a 11.4% revenue increase and expansion into new markets, including Brazil. The call concluded with optimistic projections of over $150 million in annual revenue and more than $13 million in adjusted EBITDA by 2025, emphasizing continued focus on acquisitions and operational excellence.Revenue Growth
Second quarter consolidated revenue grew 75% to $39.4 million, with year-to-date revenue increasing by 41% to $64.3 million.
Strong Balance Sheet
The company maintained a healthy balance sheet with over $40 million in cash and equivalents, a 96% increase over December 2023.
R Kings Competitions Performance
R Kings Competitions posted a record second quarter with revenues of over $9.6 million, an increase of over 43% over last year.
GMAG Platform Success
Second quarter wagering grew by 124% to $1.2 billion, and gross gaming revenue generated on the GMAG platform grew by 187% to $38 million.
Expansion in New Jurisdictions
Meridianbet continues to expand its global footprint with new licenses in Peru, South Africa, and a pending federal license in Brazil.
Investment in Technology and AI
The introduction of AI-powered casino game recommender led to a 3% increase in engagement and a 9% boost for new games.
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GMGI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GMGI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $2.98 | $2.88 | -3.36% |
| Aug 13, 2024 | $2.17 | $2.24 | +3.23% |
| Mar 14, 2024 | $2.93 | $2.95 | +0.68% |
| Jan 17, 2024 | $2.11 | $2.25 | +6.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Golden Matrix Group (GMGI) report earnings?
Golden Matrix Group (GMGI) is schdueled to report earning on Jan 15, 2025, TBA Not Confirmed.
What is Golden Matrix Group (GMGI) earnings time?
Golden Matrix Group (GMGI) earnings time is at Jan 15, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GMGI EPS forecast?
Currently, no data Available
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