Summary
- Golden Matrix has proudly unveiled its financial results for the second quarter.
- The company has achieved an impressive feat, boosting its revenue by nearly 10% and welcoming a 15% surge in active players for its casino venture, Meridianbet.
- Meridianbet exceeded expectations last quarter, and their successful expansion into Brazil added to their achievements.
Golden Matrix Group Inc., a trailblazer in developing and licensing online gambling solutions, has just unveiled its latest financial results. The company has demonstrated remarkable growth in the second quarter of 2025, with impressive revenue gains. Their Raffle ticket business and casino segment have particularly shone, showcasing outstanding performance.
Revenue soars 10% year-over-year in Q2
In the second quarter, which wraps up at the end of June 2025, Golden Matrix made impressive strides, reporting a total revenue of $43.2 million. This marks a 9.6% growth compared to the same time last year, showcasing the company's upward trajectory. Importantly, Golden Matrix achieved a gross profit of $24.4 million in Q2, translating to an impressive gross margin of around 56%. However, the net loss for this period was $3.6 million, a noticeable $3.6 million drop compared to the same period the previous year. This quarter, adjusted EBITDA fell by $2 million to $3.4 million. Golden Matrix explained that while their gross profit increased, this was counterbalanced by rising operational costs aimed at expanding their geographic reach, improving market share, and enhancing gaming technology to sustain annual growth goals. The spotlight shines brightly on Golden Matrix's casino division, Meridianbet, which delivered outstanding results. It saw a significant 29% increase in gross gaming revenue, reaching a formidable turnover of $434 million. Comparing this to last year’s Q2, it represents a robust 30% rise. The company's strategic expansion of Meridianbet’s offerings has also borne fruit, now boasting over 2,500 games. This move significantly improved casino turnover per player by 50% compared to the previous quarter. During this quarter, the number of active users surged, with an impressive 15% year-over-year increase. Alongside this, new registrations skyrocketed by 124%, driven by the successful launch of Meridianbet in Brazil. Despite facing some tough conditions, sports revenue per player increased by 28%. First deposits also saw a remarkable jump, escalating by 165% in Q2 when compared to the same period in 2024.
Golden Matrix is positioned well for success and growth
Rich Christensen, the CFO of Meridianbet, expressed a clear vision: We're dedicated to expanding our footprint in regulated markets, fortifying our unique technology, and increasing shareholder value by making wise financial decisions. He emphasized further: We're in a strong position to build on our achievements, backed by a robust balance sheet and vast opportunities in both current and new markets ready for growth. Meanwhile, Zoran Milosevic, CEO of Meridianbet, celebrated the company's remarkable performance in the second quarter, spotlighting its impressive year-over-year revenue growth. Online revenue, our pivotal strategic focus, surged by 20%, showcasing significant momentum in our core growth channels, he noted. Golden Matrix also shared insights on its financial forecast for 2025, expecting a solid year-over-year growth of 22% to 24%, which translates to revenue figures between $185 million and $188 million.
