NetworkNewsBreaks – Golden Matrix Group Inc. (NASDAQ: GMGI) Releases FY 2022 Financial Numbers, Reports Record Revenue
Golden Matrix Group (NASDAQ: GMGI), a developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, has released a financial report for FY 2022, the year ended Oct. 31, 2022. Highlights of the report included full-year revenues of $36 million, a 219% increase from the previous year and a revenue record for the company. The report also showed Adjusted EBITDA of more than $3.5 million, cash and cash equivalents of $14.9 million, total assets of $32.5 million and total liabilities of $2,774,932. In addition, the company reported shareholders equity had increased 42%, from $18.9 million in 2021 to $26.8 million, with current game operations and registered user numbers reaching 685 and 7 million, respectively, in business-to-business (“B2B”) traditional business. In the B2C space, RKings Competitions Ltd. is reporting more than 45,000 unique active users per month. The report also noted that on Jan. 13, 2023, GMGI signed a definitive agreement to acquire MeridianBet Group. “This has been a highly constructive year for our rapidly growing company,” said Golden Matrix CEO Brian Goodman in the press release. “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.”
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Golden Matrix Group (NASDAQ: GMGI), a developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, has released a financial report for FY 2022, the year ended Oct. 31, 2022. Highlights of the report included full-year revenues of $36 million, a 219% increase from the previous year and a revenue record for the company. The report also showed Adjusted EBITDA of more than $3.5 million, cash and cash equivalents of $14.9 million, total assets of $32.5 million and total liabilities of $2,774,932. In addition, the company reported shareholders equity had increased 42%, from $18.9 million in 2021 to $26.8 million, with current game operations and registered user numbers reaching 685 and 7 million, respectively, in business-to-business (“B2B”) traditional business. In the B2C space, RKings Competitions Ltd. is reporting more than 45,000 unique active users per month. The report also noted that on Jan. 13, 2023, GMGI signed a definitive agreement to acquire MeridianBet Group. “This has been a highly constructive year for our rapidly growing company,” said Golden Matrix CEO Brian Goodman in the press release. “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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
