secwatch.observer — SEC 8-K summary
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Issuer:     Galaxy Gaming, Inc. (GLXZ)
CIK:        0000013156
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0000950170-23-022134
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/13156/000095017023022134/0000950170-23-022134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/13156/000095017023022134/glxz-20230331.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-022134

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer