Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, today announced its financial results for the second quarter of 2024 (“Q2 2024”) ended June 30, 2024, and the first half of the year (year to date). According to the announcement, the results demonstrated robust growth and continued operational success. Key numbers included a 75% increase in Q2 2024 consolidated revenue to $39.4 million, compared to Q2 2023, and a 41% growth in YTD revenue to $64.3 million, compared to the first half of 2023.
In addition, Q2 2024 consolidated gross profits grew by 31% to $21.7 million, while YTD gross profits increased by 17% to $39.4 million, each compared to the same periods in 2023. The company also reported Q2 2024 net income of $15,000 and Q2 2024 adjusted EBITDA of $5 million. Additionally, cash on hand as of July 31 stood at over $40 million, a 96% increase over December 31, 2031, cash on hand of $20.4 million. “Our second quarter delivered exceptional results, driven by operational success across all business units. We have maintained high performance through product diversity and cross-platform initiatives,” said Brian Goodman, CEO of Golden Matrix Group.
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About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. Besides Meridianbet and Expanse Studios, the company also owns and operates MEXPLAY, a regulated online casino in Mexico. The company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law.
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