- Golden Matrix Group recently reported its 15th consecutive quarter of profitability
- GMGI’s second quarter revenues rose 221% YoY with net income expanding by upwards of 359% YoY
- GMGI attributed the rise in revenues to the added contribution from UK-based competition company, RKingsCompetitions Ltd, which Golden Matrix acquired in November 2021
- Management expressed their continued optimism on GMGI’s future prospects, with the company’s B2B and B2C verticals both showing robust growth
Fifteen consecutive quarters of profitability is a remarkable feat; even Amazon, the world’s largest e-commerce operator, reported a net loss over the past three months. Moreover, Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, achieved the feat in impressive fashion. The company recently reported financial results for its second fiscal quarter, with quarterly revenues rising by 221% year-over-year to $8,482,743. Meanwhile, Q2 net income rose to $586,984, a significantly increase relative to the $127,986 recorded in the equivalent period a year ago (https://ibn.fm/fBB9z).
Golden Matrix Group attributed part of the significant increase in year-over-year revenues to the 28% increase in GMGI’s B2B segment’s top-line, in addition to strong revenue contributions from RKings. Golden Matrix Group acquired an 80 percent controlling stake in UK-based RKingsCompetitions Ltd in
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
About TinyGems
TinyGems is your guide to the best and brightest in the under-appreciated small-cap sector. As one of 50+ brands within the InvestorBrandNetwork (“IBN”), TinyGems provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to reach millions of social media followers; and (5) a full array of corporate communications solutions. It’s time to uncover some of the best-kept secrets on Wall Street. TinyGems features innovative small-cap companies with huge potential, putting a spotlight on the best and brightest of these disruptors that have the technology, the talent, the drive, and the business models to make a huge impact in the markets and in portfolios. Whether it’s a game changing technology, a new more profitable product or service, or a star in a hot sector, TinyGems is the go-to source for actionable intelligence.
To receive SMS text alerts from TinyGems, text “Gems” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.TinyGems.net
Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published: https://www.TinyGems.net/Disclaimer
TinyGems
Los Angeles, California
www.TinyGems.net
310.299.1717 Office
Editor@TinyGems.net
TinyGems is part of the InvestorBrandNetwork
COMTEX_409325315/2801/2022-06-27T15:09:33
