Galaxy Gaming Q1 revenue up 25% to $7.4M, net income $111K; raises FY 2023 guidance

Galaxy Gaming, Inc.

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

Revenue $7.4M (+25% YoY); net income $111K vs loss of $14K in Q1 2022.
Adjusted EBITDA $3.08M (+15% YoY); net leverage 3.9x vs 6.0x max covenant.
GG Core revenue included $1.3M perpetual license purchases; ex-that, core up slightly.
FY 2023 revenue guidance raised to $27.5-28.5M (from $26-27M); EBITDA guidance raised to $13.0-13.25M (from $12-13M).
Cash $16.4M; debt reduced to $58.8M; GOS platform approved by testing lab.

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. updated its fiscal 2023 guidance (raised).

Period: fiscal 2023
Guidance: raised
Result: guidance update

Exact text from the filing

With respect to fiscal 2023, we are increasing our guidance for revenue (net of iGaming royalties) from a range of $26-$27 million to a range of $27.5-$28.5 million, and we are increasing the guidance for Adjusted EBITDA from a range of $12-13 million to a range of $13.0-13.25 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Galaxy Gaming, Inc. reported the quarter ended March 31, 2023 results: revenue $7,423K, net income $111K. Guidance raised.

Period: the quarter ended March 31, 2023
Revenue: $7,423K
Net income: $111K
Guidance: raised
Result: reported results

Exact text from the filing

casinos and iGaming content, announced today its financial results for the quarter ended March 31, 2023. Financial Highlights Q1 2023 vs. Q1 2022 • Revenue increased 25% to $7,423K • Adjusted EBITDA increased 15% to $3,084K • Net income of $111K vs. net loss of $(14)K Balance Sheet Changes (vs. December 31, 2022) • Cash decreased 10% to $16,386K • Total

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Source: SEC EDGAR

accession 0000950170-23-022134

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