Golden Matrix Group posts record quarterly revenue

Golden Matrix Group has reported record quarterly revenue of US$11.3m for its third quarter ended July 31.

The figure is an increase of 24 per cent on revenues of $9.1m in Q3 2022.

Revenues of $32.4m in the first nine months of the financial year translated to an increase of 22 per cent in the comparable year-on-year period.

Q3 adjusted EBITDA was $161,783, with nine-month adjusted EBITDA at $1.5m.

Golden Matrix Group said it was the seventh consecutive quarter generating positive cash flow from operations.

CEO Brian Goodman said: “We have continued the year with strong momentum and delivered solid results. The company achieved record revenues and posted its seventh consecutive quarter with positive cash flow from operations.

“With respect to the reported net loss of $965,628, profitability in Q3 was impacted by several factors, including a significant increase in one-off legal and due-diligence expenses associated with the anticipated acquisition of the MeridianBet Group, as well as the start-up marketing costs related to the roll-out of Mexplay, the Company’s B2C online casino in Mexico.”