Meridianbet Powers Golden Matrix to Record $47.3M Q3 2025 Revenue (+15% YoY)

Q3 2025 Revenue

Meridianbet Powers Golden Matrix to Record $47.3M Q3 2025 Revenue (+15% YoY)

Casino GGR up 30% to $14.6M on $485M turnover, Sports Betting up 25% to $13.3M, Depositors up 25%, New Registrations up 70% — driving Golden Matrix to profitability ($0.4M net income), 32% Adjusted EBITDA growth ($5.7M), and $25.9M debt reduction

Golden Matrix Group Inc. (NASDAQ: GMGI), the parent company of Meridianbet, today announced record third quarter 2025 financial results, with Meridianbet delivering exceptional performance that drove the Company’s return to profitability and 15% consolidated revenue growth.

Golden Matrix Group Q3 2025 Highlights

  • Revenue: $47.3M, up 15% year-over-year
  • Gross Profit: $26.4M with 56% margin (+111 bps)
  • Net Income: $0.4M (returned to profitability vs. $3.3M loss in Q3 2024)
  • Adjusted EBITDA: $5.7M, up 32% YoY (12% margin)
  • Debt Reduction: $25.9M decline year-to-date to $45M total debt
  • FY 2025 Guidance: $186–$187M revenue (+23–24% YoY)

Meridianbet Leads Group Performance with Strong 26% Growth

Meridianbet’s Q3 2025 revenue rose 26% year-over-year to $32.5 million, representing approximately 69% of Golden Matrix’s consolidated revenue and serving as the primary growth driver for the quarter.

Key Meridianbet Metrics:

  • Online Casino GGR: $14.6M, up 30% on 35% higher turnover ($485M)
  • Sports Betting Revenue: $13.3M, up 25% YoY
  • Depositors: Up 25% year-over-year
  • New Registrations: Up 70% year-over-year

The strong performance reflects Meridianbet’s innovative platform, integrated gaming ecosystem, strategic market expansions, and superior user experience across multiple regulated jurisdictions in Europe, Africa, and South America.

Management Commentary

Zoran Milosevic, Chief Executive Officer of Meridianbet: “A significant portion of this success is driven by Meridianbet’s exceptional performance. This growth is a testament to our innovative platform, integrated gaming ecosystem, strategic expansions, and unwavering commitment to delivering superior user experiences. As we head into the final quarter, I’m confident that Meridianbet’s contributions will continue to propel Golden Matrix Group toward our full-year guidance.”

Brian Goodman, CEO of Golden Matrix Group: “This quarter highlights how the strength of our portfolio and disciplined execution continue to translate into profitable growth. We’re seeing steady momentum across key markets—particularly in Latin America—supported by product innovation, operational efficiency, and strong engagement across both B2B and B2C segments. We remain focused on delivering consistent results and long-term shareholder value.”

Financial Outlook

Golden Matrix expects full-year 2025 revenue between $186 million and $187 million, representing 23–24% growth over 2024, and Q4 2025 revenue between $52.7 million and $53.7 million, an increase of 15–17% year-over-year.