Meridian Holdings

Thank you and good morning, everyone. Welcome to Golden Matrix Group's third quarter fiscal 2025 earnings call. We appreciate you joining us today. On today's call are Brian Goodman, CEO of Golden Matrix Group, Zoran Milosevic, CEO of Meridian Vet Group, Rich Christensen, CFO of Golden Matrix Group. At the conclusion of the call, the recording and supporting resources will be available on Golden Matrix Group's IR website. As a reminder, today's call will contain forward-looking statements. Certain statements made on this conference call, including our responses to questions, may constitute forward-looking information within the meaning of applicable securities laws. These statements are based on various assumptions about future events, including market and economic conditions, business prospects, technological developments, and regulatory changes. While we believe these assumptions are reasonable, they are subject to risks and uncertainties that could cause actual results to differ materially. For a complete discussion of these factors, please refer to our most recent 10-K filing and other public disclosures. Non-GAAP measures will be discussed, and reconciliation of these numbers can also be found in our recently filed 10-K and earnings press release available on our website. I will now hand it over to Brian Goodman, CEO of Golden Matrix Group.

Good morning, everyone, and thank you for joining us. Golden Matrix delivered another strong quarter, achieving record revenue of $47.3 million, up 15.4% year over year, and marking a return to profitability with net income of $0.4 million. This performance underscores the resilience of our diversified business and the scalability of our platform across multiple markets. Our focus on disciplined execution and operational efficiency is paying off, with gross profit rising to $26.4 million at a 56% margin and adjusted EBITDA growing 32% to $5.7 million. Across the business, we continue to see strong engagement and organic growth, particularly in Latin America and other regulated markets where we are expanding rapidly. With that, I'll hand things over to our CFO, Rich Christensen, to walk you through our financial and operational highlights for the quarter.

Thank you, Brian. Total revenue for the third quarter of fiscal 2025 was 47.3 million, up 15.4% year-over-year from 41 million, driven by continued growth in online casino and raffle operations. Revenue growth includes a 3% benefit from currency exchange rates, and organic revenue increased 14% year over year. Gross profit increased to 26.4 million, representing a 56% margin, up 111 basis points year over year, reflecting marketing optimization and an improved product mix. We reported net income of $400,000 compared to the net loss of 3.3 million in the same quarter last year, marking a return to profitability. Adjusted EBIT arose 32% year over year to 5.7 million, representing a 12% margin. This was supported by disciplined cost management and operating efficiency. Our balance sheet remains strong with $22 million in cash and total debt of $45.1 million. We have a net debt leverage ratio of 1.2 times trailing 12-month adjusted EBITDA quarter end. Now I'd like to turn the call over to Zoran Milosevic, CEO of MeridianBet, to provide an update on MeridianBet's performance and strategic initiatives.