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Golden Matrix Group (GMGI) Q2 Earnings Results (Interview Opportunity)

- Second quarter consolidated revenue grew 75% to $39.4 million, compared to the second quarter of 2023, a continuation of the strong trend shown in the last quarter whilst YTD revenue grew by 41% to $64.3 million, compared to the first half of 2023.
- Second quarter consolidated gross profits increased by 31% to $21.7 million and YTD gross profits also increased by 17% to $39.4 million, each compared to the same periods in 2023.
- Second Quarter Net Income of $15,000 impacted by non-cash items as well as considerable one-off acquisition, restructuring and implementation costs related to the recent acquisition.
- Second quarter consolidated Adjusted EBITDA (AEBITDA) was consistent at $5 million, compared to the second quarter of 2023, while recognising the one-time costs of completion and implementation of the Meridianbet – Golden Matrix acquisition.
- Shareholders’ equity of the Company grew 52% to $89.5 million, compared to December 31, 2023.
- Net Debt Leverage ratio of only 1.6 as of June 30, 2024.
- Cash on hand as of 31st July at over $40 million, a 96% increase over December 31, 2023, cash on hand of $20.4 million.
Zoran Milošević, CEO of Meridianbet, added, “Meridianbet’s key performance indicators for this quarter reflect its strong performance, ongoing growth and market expansion.
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