Golden Matrix Group posted a 72 per cent rise in revenue in Q1, which rose to US$42.7m.
Gross profit climbed 37 per cent to $24.2m, but the company said this was offset by increased operating spend to expand its market reach and improve its technology. This, in turn, led to a five per cent adjusted EBITDA decline to $5.6m.
Golden Matrix Group expects full-year 2025 revenue of between $190m and $190m, which would represent growth of between 26 per cent and 29 per cent on 2024.
Brian Goodman, CEO of Golden Matrix Group, said: "We entered fiscal 2025 with elevated operating efficiency and diversified revenue streams that continue to scale across high-growth markets. Our raffle segment reached all-time highs, our debt profile strengthened meaningfully and our B2B and B2C businesses are both operating from positions of renewed financial and strategic strength."
MeridianBet Group revenue rose 12 per cent year-on-year to $27.7m, while Q1 revenue for the GMAG igaming platform was $3.8m.
Revenue for RKings and Classics for a Cause (CFAC) – Golden Matrix took an indirect 80 per cent controlling interest in the latter in 2024 – was $11.2m.
Zoran Milosevic, CEO of Meridianbet, added: "Our Q1 results demonstrate focused execution across regulated markets, bolstered by operational efficiency and continuous innovation. We are deepening user engagement, expanding licensing coverage and strengthening our position as a global operator of choice."
