secwatch.observer — SEC 8-K summary
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Issuer:     Galaxy Gaming, Inc. (GLXZ)
CIK:        0000013156
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0000950170-24-037513
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/0000950170-24-037513-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/13156/000095017024037513/glxz-20240325.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-037513

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