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01/11 16:19
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call highlights significant revenue growth and strong performance in various segments, despite a net loss due to acquisition-related costs. The Q&A reveals strategic market expansion plans and optimistic revenue guidance, which are positive indicators. The shareholder return plan emphasizes value maximization, enhancing investor confidence. However, management's vague responses on competitive pressures and net loss drivers introduce some uncertainty. Overall, the strong revenue growth, optimistic guidance, and strategic focus on high-margin offerings suggest a positive stock price movement in the short term.
Revenue $151,000,000 (up 63% year-over-year) driven by strong contributions from all businesses.
Gross Profit $89,000,000 (up 30% year-over-year) supported by higher margin gaming products and AI-driven customer engagement.
Net Income Net loss of $1,500,000 (declined 111% year-over-year) primarily due to amortization of acquisition-related intangible assets ($4,500,000), stock-based compensation ($4,700,000), interest expense ($3,500,000), and restructuring expense ($2,200,000).
Adjusted EBITDA $22,200,000 (up 4% year-over-year) after adjusting for acquisition-related costs.
Fourth Quarter Revenue $46,000,000 (up 81% year-over-year) with an organic revenue growth rate of 20%.
Fourth Quarter Gross Profit $26,800,000 (up 45% year-over-year) demonstrating improving profitability.
Fourth Quarter Net Income Net loss of $2,000,000 (declined 207% year-over-year) due to acquisition-related interest expense ($2,700,000), amortization ($1,500,000), restructuring costs ($1,200,000), and stock-based compensation ($1,500,000).
Fourth Quarter Adjusted EBITDA $6,500,000 (up 69% year-over-year) demonstrating strong operating leverage.
Cash and Cash Equivalents $30,000,000 reflecting healthy liquidity and financial flexibility.
Net Debt Leverage Ratio 1.8, positioning for continued investments in high growth opportunities.
ARKINGS Revenue $36,000,000 (up 30% year-over-year) from $28,000,000 in the prior year.
ARKINGS Gross Profit $6,300,000 (up from $5,800,000 in 2023).
GMG Wagering Volume $4,700,000,000 (up 84% year-over-year) with Q4 alone showing a 27% increase to $1,140,000,000.
Classics for a Cause Revenue Over $300,000 per month in recurring revenue.
Mixplay Cash Deposits $5,100,000 (up 273% year-over-year) from $1,900,000.
Mixplay Gross Gaming Revenue $2,100,000 (up 318% year-over-year) from $600,000.
Meridian Bet Total Revenue $106,000,000 (up 14% year-over-year) from $93,000,000.
Meridian Bet Online Revenue $80,000,000 (up 18% year-over-year) from $68,000,000.
Meridian Bet Retail Revenue $23,000,000 (up 4% year-over-year) from $22,000,000.
Meridian Bet Online Casino GGR $43,000,000 (up 24% year-over-year) from $34,000,000.
Meridian Bet Turnover EUR 1,350,000,000 (up 29% year-over-year) from EUR 1,000,000,000.
Meridian Bet Board Betting Revenue EUR 48,000,000 (up 8% year-over-year) from EUR 44,000,000.
Meridian Bet Retail Casino and Slot Machine Revenue $13,000,000 (up 13% year-over-year) from $11,000,000.
Meridian Bet Active Player Base Growth 14% year-over-year.
Expanse Studios Total Revenue 174% year-over-year increase.
Expanse Studios Active Player Base Growth 120% year-over-year.
Expanse Studios Total Spins Growth 145% year-over-year.
Revenue Growth: Revenue grew by 63% to $151,000,000 for fiscal year 2024, with organic revenue growth at 17%.
AI-driven Product Enhancements: Next-gen technology and AI-powered optimization tools have driven unprecedented scalability and improved customer engagement.
New Game Launches: Expanse Studios launched several successful titles, including Beach Penalties and Super Helly, enhancing the gaming portfolio.
Market Expansion: Golden Matrix is expanding into high growth regulated markets, including Brazil, and enhancing its global footprint.
Acquisitions: Strategic acquisitions of Meridian Bets and Classics for a Cause have expanded revenue base and brand value.
New Customer Engagement: Classics for a Cause achieved over 10,000 active VIP members, generating over $300,000 per month in recurring revenue.
Operational Efficiency: Gross profit increased by 30% year over year to $89,000,000, supported by higher margin gaming products.
Cost Management: Disciplined cost management led to adjusted EBITDA rising 4% to $22,200,000 despite a net loss.
Cash Position: Cash and cash equivalents stood at $30,000,000, reflecting healthy liquidity.
Strategic Focus: Key priorities for 2025 include market expansion, optimizing capital structure, and enhancing AI-driven personalization.
Technology Investment: Investment in AI-driven technology has improved user engagement and personalized betting experiences.
Competitive Pressures: Despite a high competitive landscape, Golden Matrix Group has a distinct advantage due to its diversity, increasing global footprint, and advanced technology.
Regulatory Issues: The company is expanding into high growth regulated markets, which may present regulatory challenges.
Acquisition-Related Costs: Net income declined due to amortization of acquisition-related intangible assets totaling $4,500,000, stock-based compensation of $4,700,000, and restructuring expenses of $2,200,000.
Economic Factors: The company's performance is subject to market and economic conditions, which could impact future results.
Supply Chain Challenges: While not explicitly mentioned, the expansion into new markets and technology investments may face supply chain challenges.
Market Expansion: Golden Matrix is focused on expanding into new markets, including Brazil and other high-growth jurisdictions.
AI-Driven Personalization: The company aims to enhance AI-driven personalization to increase customer retention and engagement.
Product Portfolio Expansion: Plans to expand the product portfolio, including high-margin live betting and next-gen gaming experiences.
Acquisitions: Strategic acquisitions of Meridian Bets and Classics for a Cause have enhanced brand value and revenue base.
Operational Efficiency: Focus on operational efficiencies from expanding margins and leveraging cost synergies across acquisitions.
Revenue Guidance Q1 2025: Anticipated revenue of $42,000,000 to $45,000,000 for Q1 2025, representing a year-over-year growth rate of 69-81%.
Financial Position: Strong balance sheet with cash and cash equivalents of $30,000,000 and a net debt leverage ratio of 1.8.
Adjusted EBITDA: Adjusted EBITDA for FY 2024 rose 4% to $22,200,000, indicating strong operating leverage.
Net Income: Net income for FY 2024 was a loss of $1,500,000, primarily due to acquisition-related costs.
Shareholder Return Plan: Rich Christensen, CFO, emphasized maximizing shareholder value as a key focus, indicating a balanced approach to capital allocation to support growth, invest in offerings, and reduce net interest and cash taxes paid.
Free Cash Flow: The company is well positioned to drive sustainable growth and maximize long-term shareholder value with a strong balance sheet and positive free cash flow.
The earnings call highlights significant revenue growth and strong performance in various segments, despite a net loss due to acquisition-related costs. The Q&A reveals strategic market expansion plans and optimistic revenue guidance, which are positive indicators. The shareholder return plan emphasizes value maximization, enhancing investor confidence. However, management's vague responses on competitive pressures and net loss drivers introduce some uncertainty. Overall, the strong revenue growth, optimistic guidance, and strategic focus on high-margin offerings suggest a positive stock price movement in the short term.
The earnings call highlights strong financial performance with significant revenue and profit growth, especially in wagering and strategic acquisitions. The company's focus on cost efficiencies, operational optimization, and expansion strategy further supports a positive outlook. The Q&A session did not reveal any major concerns, and the optimistic guidance for Q4 suggests continued growth. These factors indicate a likely strong positive stock price movement over the next two weeks.
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