Golden Matrix Reports Record Earnings for FY 2023 Third Quarter
September 10, 2023
🌥️Earnings Overview
GOLDEN MATRIX ($NASDAQ:GMGI) announced their financial results for the third quarter of fiscal year 2023 (ending July 31, 2023) on September 7, 2023. The total revenue for the period was USD 11.3 million, up 24.3% compared to the same quarter of the previous year. In contrast, the net income for the quarter was -0.97 million, a decrease from the 0.63 million reported in the same period of the previous year.
Stock Price
On Thursday, GOLDEN MATRIX reported a record-breaking third quarter earning for the 2023 financial year. The stock opened at 2.7 and closed at 2.8, representing an increase of 2.6% from the previous close of 2.7. This is the highest increase in closing price for the company in the past six months. GOLDEN MATRIX’s impressive growth over the past three quarters have put them in a strong position heading into the new financial year. The company has made significant investments in research and development and has implemented new strategies to increase efficiency and reduce costs. This has resulted in a more robust product portfolio and increased customer satisfaction.
The company’s financial health is further endorsed by its strong cash flow, consistent dividend payments, and attractive valuations. GOLDEN MATRIX’s ability to generate a strong return on investment has been a key factor in its successful quarter. It has also continued to pay dividends to its shareholders and has maintained a stable stock price over the past few years. Overall, GOLDEN MATRIX’s record earnings for the third quarter of the 2023 financial year is a testament to the success of its strategies and investments. The company is well-positioned for future growth and profitability, and investors should continue to monitor its progress with optimism. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Golden Matrix. More…
| Total Revenues | Net Income | Net Margin |
| 41.97 | -3.76 | -9.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Golden Matrix. More…
| Operations | Investing | Financing |
| 1.17 | -1 | -0.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Golden Matrix. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 34.99 | 4.09 | 0.86 |
Key Ratios Snapshot
Some of the financial key ratios for Golden Matrix are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 117.3% | -53.2% | -7.8% |
| FCF Margin | ROE | ROA |
| 2.6% | -6.7% | -5.9% |
Analysis
At GoodWhale, we conducted an analysis of GOLDEN MATRIX‘s financials. According to our Star Chart analysis, GOLDEN MATRIX is strong in assets and growth, but medium in terms of profitability and weak when it comes to dividends. We also found the company to have a high health score of 8/10, which indicates it is capable of sustaining future operations in times of crisis. Based on this data, we classify GOLDEN MATRIX as a ‘cheetah’ type of company; one that displays high revenue or earnings growth but is considered less stable due to lower profitability. Given this information, investors interested in investing in GOLDEN MATRIX should be aware of the company’s potential risks and rewards. Investors who are looking for fast-paced growth and higher returns may be attracted to this type of company, while those who prioritize stability and dividends may be less interested. More…
Peers
The competition in the online gaming industry is fierce. Golden Matrix Group Inc competes with the likes of LeoVegas AB, Emerge Gaming Ltd, and Playgon Games Inc. All of these companies are vying for a piece of the pie in this rapidly growing industry. Golden Matrix Group Inc has a strong presence in the online gaming industry and is constantly innovating to stay ahead of the competition.
– LeoVegas AB ($ASX:EM1)
Emerge Gaming Ltd is an Australian gaming company with a focus on mobile and online gaming. The company has a market cap of 14.58M as of 2022 and a return on equity of 22.6%. The company’s games include Clash of Kings, Game of Thrones: Ascent, and Shadowgun Legends. Emerge Gaming also has a strong focus on esports, with a number of tournaments and leagues for its games.
– Emerge Gaming Ltd ($TSXV:DEAL)
Playgon Games Inc is a Canadian video game developer and publisher. The company was founded in 2006 by brothers Alexandre and Jonathan Cote. Playgon Games is best known for its mobile games, including the popular “Candy Crush” franchise. The company has a market cap of 20.27M as of 2022 and a Return on Equity of -123.82%.
Summary
Investors should take a closer look at GOLDEN MATRIX. Their third quarter earnings for 2023 reported total revenue of USD 11.3 million, a 24.3% increase from the previous year. Despite this increase, the company’s reported a net income loss of -0.97 million, compared to a 0.63 million profit from the same quarter of the previous year.
This suggests that strong revenue growth was not enough to counterbalance other costs. Investors should evaluate GOLDEN MATRIX’s future prospects before making any decisions.
