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Golden Matrix (GMGI) - 2025 Q1 - Earnings Call Transcript
GMGIGolden Matrix (GMGI)2025-05-08 13:02
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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% [10] - Gross profit reached 24.2 million, reflecting a gross margin of approximately 57%, a decline of 14 percentage points compared to the previous year [11] - Net loss was 300,000or300,000 or 0.00 per share, a decline of 4.2millionfromthepreviousyear[14]−AdjustedEBITDAdeclinedby4.2 million from the previous year [14] - Adjusted EBITDA declined by 300,000 or 5% to 5.6million[14]−AsofMarch31,2025,cashandcashequivalentsstoodat5.6 million [14] - As of March 31, 2025, cash and cash equivalents stood at 29.7 million, with a net debt leverage ratio under 1.6 turns [15] 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 26,000 new users added, a 46% increase year-over-year [6] - MeridianBet saw new registrations increase by 22%, first-time deposits surged over 56%, and total deposits rose by 12% [17] 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 5.6billioninGGRfor2025[18]−ThecompanylaunchedB2BoperationsinNigeria,tappingintoamarketwithover60millionbettors[19]CompanyStrategyandDevelopmentDirection−Thecompanyisfocusedonplatforminnovationsandexpansionintohigh−growthregulatedmarkets,emphasizingoperationalefficiencyandgeographicdiversity[5]−MeridianBet′sstrategyincludessmartgrowth,operationalexcellence,andreturningvaluetoshareholders[22]−Thecompanyaimstoenhancegrowththroughdisciplinedcapitalallocationandinvestments[23]Management′sCommentsonOperatingEnvironmentandFutureOutlook−Managementexpressedexcitementaboutgrowthopportunitiesfortheyear,projectingfull−yearrevenuebetween5.6 billion in GGR for 2025 [18] - The company launched B2B operations in Nigeria, tapping into a market with over 60 million bettors [19] Company Strategy and Development Direction - The company is focused on platform innovations and expansion into high-growth regulated markets, emphasizing operational efficiency and geographic diversity [5] - MeridianBet's strategy includes smart growth, operational excellence, and returning value to shareholders [22] - The company aims to enhance growth through disciplined capital allocation and investments [23] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about growth opportunities for the year, projecting full-year revenue between 190 million and 195million,representinga26195 million, representing a 26% to 29% growth rate over 2024 [23] - The company is well-positioned for long-term success, emphasizing a commitment to profitable and sustainable growth [24] 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 completed five new integrations with a US-based sweepstakes casino, expanding its footprint in the North American market [20] Q&A Session Summary - No specific questions or answers were documented in the provided content, thus this section is not applicable.