Golden Matrix Reports Record Q3 Revenue of $47.3 Million and Return to Profitability

Golden Matrix Group Inc. (NASDAQ: GMGI) announced financial results for the third fiscal quarter ended September 30, 2025, posting record revenue of $47.3 million, representing a 15% increase compared to the same period last year. The company returned to profitability with net income of $0.4 million, a substantial improvement from the $3.3 million net loss reported in Q3 2024. This performance underscores the company's successful execution of its growth strategy and operational efficiency improvements across both B2B and B2C gaming segments.

The company's gross profit reached $26.4 million, an 18% year-over-year increase, with gross margin expanding to 56%. Adjusted EBITDA showed even stronger growth, increasing 32% to $5.7 million, reflecting disciplined cost management and improved operational leverage. These financial improvements have allowed Golden Matrix to significantly strengthen its balance sheet, reducing total debt by $25.9 million (37%) to $45 million since December 31, 2024. The net debt leverage ratio now stands at 1.2× annual Adjusted EBITDA, indicating improved financial stability.

Brian Goodman, CEO of Golden Matrix, commented on the results, stating that the quarter highlights how the strength of the company's portfolio and disciplined execution continue to translate into profitable growth. He noted steady momentum across key markets, particularly in Latin America, supported by product innovation and operational efficiency. The company's Meridianbet segment delivered particularly strong performance, with revenue rising 26% year-over-year to $32.5 million, driven by strong online and retail performance across multiple regions.

Other business segments also showed robust growth. RKings delivered record revenue of $7.4 million in Q3, up 14%, while advancing its new CRM rollout to enhance customer engagement. Classics for a Cause demonstrated strong sequential growth, with registrations up 72% and new VIPs up 82%. The August Holden Torana campaign broke company records, generating $776,000 in sales from 10,000 packages and 1,700 new customers. GMAG maintained stable Q3 revenue of $3.5 million while building momentum in key markets, with sales in emerging regions growing over 40%, led by Brazil and Mexico.

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. Rich Christensen, CFO of Golden Matrix, emphasized that the record Q3 performance highlights the strength of the business model and momentum across both B2B and B2C segments. The full visual presentation and earnings call can be accessed at https://goldenmatrix.com/events-presentations/ at 9:00am ET.