The following is a summary of the Golden Matrix Group, Inc. (GMGI) Q3 2024 Earnings Call Transcript:
Financial Performance:
Q3 revenue rose 85% to $41 million, with year-to-date revenue up 55% to $105 million.
Third quarter gross profit grew 39% to $22.4 million; year-to-date gross profit increased by 24% to $61.8 million.
Adjusted third quarter EBITDA was $4.3 million despite one-off costs from acquisitions.Cash and equivalents stood at $38.4 million; short term debt at $17.5 million with 60% growth in shareholder equity to $94 million.
Business Progress:
Successfully acquired and integrated Classics for a Cause.
Enhanced operational performance and market presence through RKings and GMAG platforms.
Implemented AI-driven tools to improve customer engagement in Merdianbet.
Expanded the online and retail segments, expecting further growth in Q4.
Opportunities:
Global expansion and technological advancements in iGaming tools for Golden Matrix.
Classics for a Cause division signifies potential revenue growth and diversification.
At Merdianbet, notable advancements in AI tools and new online casino games forecasting enhanced customer engagement and retention.
Risks:
Residual costs from the integration of recent acquisitions may affect short-term earnings.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
