Workflow
Golden Matrix (GMGI) - 2025 Q1 - Earnings Call Transcript
GMGIGolden Matrix (GMGI)2025-05-08 13:02
Filings
Slide

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was 42.7million,representinga7242.7 million, representing a 72% year-over-year increase, with constant currency growth at 76% [8] - Gross profit reached 24.2 million, reflecting a gross margin of approximately 57%, a decline of 14 percentage points from the previous year [9] - Net loss was 300,000or300,000 or 0.00 per share, a decline of 4.2millionfromthepreviousyear[12]−AdjustedEBITDAdeclinedby4.2 million from the previous year [12] - Adjusted EBITDA declined by 300,000 or 5% to 5.6million[12]−CashandcashequivalentsasofMarch31,2025,were5.6 million [12] - Cash and cash equivalents as of March 31, 2025, were 29.7 million, with a net debt leverage ratio under 1.6 turns [13] Business Line Data and Key Metrics Changes - The raffle business achieved record results, including all-time highs in revenue, ticket sales, and prize values, with a 46% increase in new users compared to Q1 2024 [6] - MeridianBet saw new registrations increase by 22%, first-time deposits surged over 56%, and total deposits rose 12% [15] Market Data and Key Metrics Changes - MeridianBet secured a permanent online betting license in Brazil, allowing full national coverage in a market projected to generate over 5.6billioninGGRin2025[16]−ThecompanylaunchedB2BoperationsinNigeria,tappingintoamarketwithover60millionbettors[16]CompanyStrategyandDevelopmentDirection−Thecompanyisfocusedonplatforminnovationsandexpansionintohigh−growthregulatedmarkets,positioningitselfattheforefrontoftheiGamingindustry[5]−Thestrategyemphasizessmartgrowth,operationalefficiency,andreturningvaluetoshareholders[20]Management′sCommentsonOperatingEnvironmentandFutureOutlook−Managementexpressedexcitementaboutgrowthopportunitiesfortheyear,expectingfull−yearrevenuebetween5.6 billion in GGR in 2025 [16] - The company launched B2B operations in Nigeria, tapping into a market with over 60 million bettors [16] Company Strategy and Development Direction - The company is focused on platform innovations and expansion into high-growth regulated markets, positioning itself at the forefront of the iGaming industry [5] - The strategy emphasizes smart growth, operational efficiency, and returning value to shareholders [20] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about growth opportunities for the year, expecting full-year revenue between 190 million and 195million,representinga26195 million, representing a 26% to 29% growth rate over 2024 [21] - The company remains committed to disciplined capital allocation and investments that enhance growth and long-term value [21] Other Important Information - The company eliminated approximately 9.6 million in debt and converted over 9.5 million in acquisition-related debt into equity, enhancing financial strength and flexibility [6] - MeridianBet's community initiatives included 56 projects focused on health donations, scholarships, and responsible betting education [17] Q&A Session Summary Question: What are the growth expectations for the company in 2025? - The company expects full-year revenue to be between 190 million and $195 million, indicating a growth rate of 26% to 29% over 2024 [21] Question: How is the company addressing operational costs? - The increase in operating expenses is attributed to costs related to geographic expansion, market share improvement, and technology advancements [11]