Golden Matrix has published its financial report for the 2022 fiscal year. The global developer, licensor and operator finished the year that ended October 31, 2022 with total revenue of $36m.
Last year’s overall revenue represents a year-over-year boost of 219%. The company noted that its revenue reached an all-time high.
Adjusted EBITDA reached more than $3.5m for the year, while cash and cash equivalents totaled $14.9m.
Golden Matrix finished FY2022 with $32.5m in total assets, along with $26.8m in GMGI shareholders’ equity.
The company celebrated another recent win by signing a definitive deal to purchase MeridianBet Group, along with its related companies. Both companies have agreed to a cash and stock transaction of close to $300m.
The two anticipate wrapping up the sale during the first half of this year, pending customary closing conditions. The companies have also agreed to continue operations under their current brand names.
Company CEO Brian Goodman described 2022 as a good year for Golden Matrix and said it is in a good position to yield similar results going forward.
He commented: “This has been a highly constructive year for our rapidly growing company, We believe the increased costs incurred and investments made in our B2B and B2C platforms have positioned GMGI to sustain and even accelerate our strong revenue growth.
“To remain competitive in the worldwide gaming industry, we are continually upgrading our systems and gaming content offerings to support the needs of our millions of participants."
Golden Matrix is based in Las Vegas, Nevada and is a developer and licensor of online gaming platforms, systems and gaming content. Its platform is available through mobile apps and through desktop.