Golden Matrix Group (GMGI) Q4 2024 earnings summary

Executive summary

• 2024 marked a transformational year with record revenue growth, strategic acquisitions of Meridianbet and Classics for a Cause, and global market expansion.

• Enhanced technology, next-gen AI, predictive analytics, and real-time betting innovations drove engagement and operational efficiencies.

• Leadership team expanded with the appointment of Rich Christensen as CFO, bringing extensive experience in finance, M&A, and restructuring.

• Net loss of $1.5 million for the year, primarily due to acquisition-related amortization, stock-based compensation, interest, and restructuring costs.

• Adjusted EBITDA rose 4% to $22.2 million for the year and 69% to $6.5 million in Q4, reflecting operational strength.

Financial highlights

• Fiscal 2024 revenue grew 63% year-over-year to $151 million; organic revenue up 17%.

• Gross profit increased 30% to $89 million; Q4 gross profit up 45% to $27 million.

• Net income declined 111% to a net loss of $1.5 million, compared to net income of $13.9 million in 2023.

• Q4 revenue up 81% to $46 million; Adjusted EBITDA for Q4 grew 69% to $6.5 million.

• Cash and cash equivalents at year-end totaled $30.1 million; net debt leverage ratio of 1.8.

Outlook and guidance

• Q1 2025 revenue guidance: $42–$45 million, representing 69%–81% year-over-year growth.

• 2025 priorities include expansion into new markets (notably Brazil and Latin America), optimizing capital structure, and enhancing AI-driven personalization.

• Strategic focus on innovation, profitability, and further acquisitions.