---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-037513"
form_type: "8-K"
ticker: "GLXZ"
cik: "0000013156"
company_name: "Galaxy Gaming, Inc."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T05:49:09.130853+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-037513
- form_type: 8-K
- ticker: GLXZ
- cik: 0000013156
- company_name: Galaxy Gaming, Inc.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/0000950170-24-037513-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/glxz-20240325.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-037513
- JSON: https://secwatch.observer/filing/0000950170-24-037513.json
- Plain text: https://secwatch.observer/filing/0000950170-24-037513.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/0000950170-24-037513-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/0000950170-24-037513-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/0000950170-24-037513-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.