Galaxy Gaming Q4 revenue +5% to $5.94M; FY net loss $(1.73)M; guides 2023 rev $26-27M

Galaxy Gaming, Inc.

2023-Q1 EPS reported $0.00 revenue$7,422,534

Q4 revenue $5.94M (+5% reported, +14% constant currency); adjusted EBITDA $3.15M (+30% but includes $575K ERTC credit).
Full year 2022 revenue $23.44M (+17%); net loss $(1.73)M vs net income $2.11M in 2021.
GG Digital Q4 revenue $2.0M (+16% reported, +40% constant currency); GG Core flat at $3.94M.
FY 2023 guidance: revenue $26-27M, adjusted EBITDA $12-13M; expects interest expense ~$9M.
Net leverage 4.0x vs covenant 8.0x; plans to refinance Fortress debt in Q4 2023 when prepayment penalty ends.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Galaxy Gaming, Inc. reported the year ended December 31, 2022 results: revenue $23,442K, net income $(1,733)K. Guidance initiated.

Period: the year ended December 31, 2022
Revenue: $23,442K
Net income: $(1,733)K
Guidance: initiated
Result: reported results

Exact text from the filing

• Revenue increased 17% to $23,442K o + 23% to $24,632 at constant currency • Adjusted EBITDA increased 21% to $10,534K • Net loss of $(1,733)K vs. net income of $2,112K

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Galaxy Gaming, Inc. reported the quarter ended December 31, 2022 results: revenue $5,940K, net income $55K. Guidance initiated.

Period: the quarter ended December 31, 2022
Revenue: $5,940K
Net income: $55K
Guidance: initiated
Result: reported results

Exact text from the filing

• Revenue increased 5% to $5,940K o +14% to $6,453K at constant currency • Adjusted EBITDA increased 30% to $3,153K o Q4 2022 benefited from one-time payroll tax benefit of $575k (net) • Net income declined from $598K to $55K

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Galaxy Gaming, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-011788

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