- Golden Matrix Group recently reported its 15th consecutive quarter of profitability
- GMGI’s second quarter revenues rose 221% YoY with net income expanding by upwards of 359% YoY
- GMGI attributed the rise in revenues to the added contribution from UK-based competition company, RKingsCompetitions Ltd, which Golden Matrix acquired in November 2021
- Management expressed their continued optimism on GMGI’s future prospects, with the company’s B2B and B2C verticals both showing robust growth
Fifteen consecutive quarters of profitability is a remarkable feat; even Amazon, the world’s largest e-commerce operator, reported a net loss over the past three months. Moreover, Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, achieved the feat in impressive fashion. The company recently reported financial results for its second fiscal quarter, with quarterly revenues rising by 221% year-over-year to $8,482,743. Meanwhile, Q2 net income rose to $586,984, a significantly increase relative to the $127,986 recorded in the equivalent period a year ago (https://ibn.fm/fBB9z).
Golden Matrix Group attributed part of the significant increase in year-over-year revenues to the 28% increase in GMGI’s B2B segment’s top-line, in addition to strong revenue contributions from RKings. Golden Matrix Group acquired an 80 percent controlling stake in UK-based RKingsCompetitions Ltd in…
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
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