The leading developer, licensor and global online gambling operator, Golden Matrix Group Inc., released its latest financial report.
The company posted strong growth in Q2 2025, recording an increase in revenue and exceptional performance of its Raffle ticket business and casino segment.
Revenue soars 10% year-over-year in Q2
During the second quarter, or the three months ended June 30, 2025, Golden Matrix reported total revenue of $43.2m.
The figure, compared to the same period the prior year, shows an increase of 9.6%.
Equally as important, Golden Matrix posted gross profit of $24.4m in Q2 this year, a result that points to a gross margin of approximately 56%.
The net loss during the latest trading period was $3.6m, a result that marks a $3.6m decline when compared year-over-year to the corresponding period.
In Q2 this year, adjusted EBITDA decreased by $2m to $3.4m. Golden Matrix further explained: "increased gross profit was offset by the increase in operating spend to expand our business geographically, improve our market share, and advance our gaming technology in support of full-year growth initiatives."
Golden Matrix praised the exceptional performance of its casino business, Meridianbet, which reported a gross gaming revenue (GGR) increase of 29% hitting turnover of $434m. This result, compared to the corresponding period last year, points to a solid increase of 30%.
The company also grew Meridianbet's offering, which by now has more than 2,500 games in a strategic move that boosted the casino turnover per player quarter-over-quarter by 50%.
During the recent trading period, Golden Matrix recorded a solid increase in the number of active users.
In Q2 this year, the company's active users increased by 15% year-over-year, while new registrations soared by 124% as a result of the launch of Meridianbet in Brazil.
Despite some challenging conditions, sports revenue per player increased by 28% and first deposits jumped by 165% in Q2 when compared to the same period in 2024.
Golden Matrix is positioned well for success and growth
Rich Christensen, Meridianbet's CFO, commented: "We remain focused on expanding our presence in regulated markets, enhancing our proprietary technology stack, and driving shareholder value through disciplined capital allocation."
Finally, the executive pointed out: "We are well-positioned to build on our success, with a strong balance sheet and significant opportunities across both existing and new markets to accelerate."
Zoran Milosevic, Meridianbet's CEO, praised the business' exceptional performance in Q2 this year, highlighting its year-over-year revenue growth.
"Online revenue, a key strategic focus, increased 20%, demonstrating strong momentum in our core growth channels," the executive added.
Golden Matrix also uncovered details regarding its financial outlook for the full-year 2025 revenue.
The company said it anticipates a growth rate year-over-year between 22% and 24% or $185m to $188m in revenue.
