Golden Matrix Group reports $42.7m in Q1 revenue
The company also shared its Meridianbet quarterly report.
Key Points
- Overall revenue grew by 72% year-over-year
- Gross profit reached $24.2m in the first quarter
Golden Matrix Group has released its financial and business results for the first quarter of 2025.
The company reported a 72% increase in Q1 revenue when compared to results posted in 2024. Revenue in the first quarter reached $42.7m.
Golden Matrix posted a gross profit of $24.2m in Q1 and a consolidated gross margin of close to 57%.
Adjusted EBITDA fell by 5% year-over-year and reached $5.6m.
Brian Goodman, CEO of Golden Matrix, commented, “We entered fiscal 2025 with elevated operating efficiency and diversified revenue streams that continue to scale across high-growth markets.
“Our raffle segment reached all-time highs, our debt profile strengthened meaningfully, and our B2B and B2C businesses are both operating from positions of renewed financial and strategic strength.”
Golden Matrix estimates its revenue for the fiscal year to range between $190m and $195m, with a projected growth rate of 26% to 29% year-over-year.
Company Chief Financial Officer Rich Christensen said, “We’re executing on disciplined capital allocation and long-term strategic investments. Our improving net leverage, healthy free cash flow, and scalable platform position us to accelerate growth across 2025 and beyond.”
The company also released quarterly results for its Meridianbet subsidiary.
Meridianbet recently secured a gaming license in Brazil. The country opened its regulated market on January 1. Total deposits rose by 12% when compared to results in Q1 2024.
Meridianbet reported 56% growth in its first-time deposits, with new registrations growing by 22% year-over-year.
Zoran Milosevic, CEO of Meridianbet, commented, “Our Q1 results demonstrate focused execution across regulated markets, bolstered by operational efficiency and continuous innovation.
“We are deepening user engagement, expanding licensing coverage, and strengthening our position as a global operator of choice.”
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