Galaxy Gaming reaches record revenue in Q2
Galaxy Gaming has recently surpassed its quarterly revenue record in the year’s second quarter.
The company’s revenue surpassed 7.5 million dollars in the quarter, which was 33% higher than its revenue in the same period last year. Galaxy Gaming’s revenue in the year’s first six months experienced a similar increase in revenue, going from about 11.6 million dollars to just under 15 million dollars this year.
This led to a sizable increase in the gambling firm’s adjusted EBITDA, which went from 2.3 million dollars in Q2 2022 to 3.2 million dollars in the same period this year. Galaxy Gaming’s H1 EBITDA increased by a similar amount as well, going from just over 5 million dollars to 6.3 million dollars.
These increases enabled Galaxy Gaming’s net income to return into the positive range at 357 thousand dollars in Q2 and 467 thousand dollars in H1, up from last year’s losses of 1.11 million dollars and 1.3 million dollars respectively.
The company mentioned that this growth has also enabled it to increase its revenue guidance for the 2023 financial year, which has been raised from a range of 27.5 million – 28.5 million dollars to 29 million – 30 million dollars. The firm’s EBITDA, on the other hand, was increased to 13 million – 13.25 million dollars.