Golden Matrix reports record revenue of $11.84m for Q1 2024
The company has built from a positive 2023.
Golden Matrix has released its financial figures for the first quarter of 2024.
Results
In January, Golden Matrix published its financial results for the 2023 fiscal year, posting $44.2m in revenue for the year, which is the highest full-year revenue in the company’s history.
Following on from this, the iGaming group has continued this positive end to 2023 with an equally positive start to 2024.
Revenue during the first quarter of the year was $11.84m, representing an increase of 10% year-on-year.
Likewise, net income also saw improvements compared to the same period last year, being valued at $74,505 compared with a loss of $443,521 in 2023.
Adjusted EBITDA during the quarter was $1.19m, while overall the company achieved a ninth consecutive quarter generating positive cash flow from operations.
Company
Looking closer at the operations of the company, the current unique casino operations supported by its B2B gaming platforms is 808, while the registered user number is 8.3 million.
Golden Matrix’s B2C segment, RKings Competitions, has over 338,000 registered users on its tournament platform, while its B2C-regulated casino in Mexico, MEXPLAY, has 84,000 registered users.
In terms of revenue contributions during the first quarter, the B2B segment contributed 39% and the B2C segment contributed 61%.
Comments
Golden Matrix CEO, Brian Goodman, said: “We are exceptionally pleased with the company’s performance in Q1 to kick-off the new fiscal year.
“We achieved positive GAAP earnings and adjusted EBITDA of almost $1.2m, we set multiple records, delivering our highest-ever quarterly results for Revenue, Total Assets, Shareholder Equity and Cash-on-Hand.
“The company is well-positioned for continued growth within its B2B and B2C divisions.
“We continue to make significant progress towards closing the pending MeridianBet acquisition and look forward to working to boost top-line growth and profitability once these two world-class businesses have been combined.”
Today has also seen Century Casinos reporting financial results, releasing its fourth quarter and full-year figures, generating $143.8m in Q4 2023 net operating revenue.
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