Golden Matrix Group sees first quarter revenue hit record $11.8m

Finance News

Golden Matrix Group, developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today reported financial results for its first fiscal quarter ended January 31, 2024.

Record quarterly revenues of $11.84 million, an increase of 10% on revenues of $10.78 million in the like year-ago quarter. Q1 net income of $74,505 versus a loss of $(443,521) in the like year-ago quarter. With foreign currency translation adjustments, comprehensive income was $272,396 versus a loss of $(291,262) in Q1 ’23.

Revenue contributions from the company’s B2B and B2C (RKings, MEXPLAY) segments in Q1 were $4.62 million (39%) and $7.22 million (61%), respectively.

“We are exceptionally pleased with the company’s performance in Q1 to kick-off the new fiscal year,” said Golden Matrix CEO Brian Goodman. “We achieved positive GAAP earnings and adjusted EBITDA of almost $1.2 million, we set multiple records, delivering our highest ever quarterly results for Revenue, Total Assets, Shareholder Equity and Cash-on-Hand.