Galaxy Gaming corrects FY2024 net revenue growth guidance to 6.1%; FY2023 net loss $1.8M

Galaxy Gaming, Inc.

FY2023 net loss of $1,808K vs $1,773K prior year; net revenue up 19% to $27,789K.
Q4 2023 net loss of $820K (vs net income $55K in Q4 2022); net revenue up 13% to $6,737K.
FY2024 guidance: net revenue $29-30M, adjusted EBITDA $12-13M; corrected midpoint net revenue growth to 6.1% from 2.4%.
Corrected Q4 2022 GG Digital recurring license revenue error in original release.
Net leverage covenant at 3.7x vs 6.0x maximum; company plans refinancing.

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, 2023 results: revenue $27,789K, net income $(1,808)K.

Period: the year ended December 31, 2023
Revenue: $27,789K
Net income: $(1,808)K
Result: reported results

Exact text from the filing

Fiscal Year 2022 • Revenue (gross) increased 23% to $31,729K • Revenue (net) increased 19% to $27,789K • Net loss of $(1,808)K vs. net loss of $(1,773)K • Adjusted EBITDA increased 1% to $10,635K o Increased 7% when adjusting FY 22 for ERTC Balance Sheet Changes (vs.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Galaxy Gaming, Inc. reported fiscal year 2024 results: revenue $29.0 - $30.0. Guidance initiated.

Period: fiscal year 2024
Revenue: $29.0 - $30.0
Guidance: initiated
Result: guidance update

Exact text from the filing

Actual 2024 Range Midpoint Change Recurring License Revenue $ 28.0 $34.0 - $35.0 23.2% Sale of Perpetual Licenses 3.7 1.0 - 1.5 (66.2)% Gross Revenue $ 31.7 $35.0 - $36.5 12.8% Royalties Netted against Gross Revenue (3.9) (6.0 - 6.5) 60.3% Net Revenue $ 27.8 $29.0 - $30.0 6.1% Adjusted EBITDA $ 10.6 $12.0 - $13.0 17.9% In the Disaggregation of Revenue table in Exhibit 1, Recurring License Revenue in GG Digital for Q4 2022 was incorrect.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Galaxy Gaming, Inc. reported the quarter ended December 31, 2023 results: revenue $6,737K, net income $(820)K.

Period: the quarter ended December 31, 2023
Revenue: $6,737K
Net income: $(820)K
Result: reported results

Exact text from the filing

Q4 2022 • Revenue (gross) increased 25% to $8,382K • Revenue (net) increased 13% to $6,737K • Net loss of $(820)K vs. net income of $55K • Adjusted EBITDA decreased 10% to $2,828K o Increased 10% when adjusting Q4 22 for ERTC • Fiscal Year 2023 vs.

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Source: SEC EDGAR

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