What is Golden Matrix's earnings per share (EPS)?

Golden Matrix (GMGI) reported diluted earnings per share of $-7.76 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Golden Matrix Financials

GMGI

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Golden Matrix (GMGI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Mixed

-0.28x

For every $1 of reported earnings, Golden Matrix generates $-0.28 in operating cash flow ($25.4M OCF vs -$92.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-21.0x

Golden Matrix earns $-21.0 in operating income for every $1 of interest expense (-$96.2M vs $4.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$182.9M

YoY+21.0%

Golden Matrix generated $182.9M in revenue in fiscal year 2025. This represents an increase of 21.0% from the prior year.

EBITDA

-$81.0M

YoY-2642.9%

Golden Matrix's EBITDA was -$81.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2642.9% from the prior year.

Net Income

-$92.0M

YoY-6114.0%

Golden Matrix reported -$92.0M in net income in fiscal year 2025. This represents a decrease of 6114.0% from the prior year.

EPS (Diluted)

$-7.76

Golden Matrix earned $-7.76 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 15620.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$19.2M

YoY+14.5%

Golden Matrix generated $19.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.5% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

13M

Golden Matrix had 13M shares outstanding in fiscal year 2025. This represents a decrease of 90.2% from the prior year.

Margins & Returns

Gross Margin

56.6%

YoY-2.0pp

Golden Matrix's gross margin was 56.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.0 percentage points from the prior year.

Operating Margin

-52.6%

YoY-54.4pp

Golden Matrix's operating margin was -52.6% in fiscal year 2025, reflecting core business profitability. This is down 54.4 percentage points from the prior year.

Net Margin

-50.3%

YoY-49.3pp

Golden Matrix's net profit margin was -50.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 49.3 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$7.1M

Golden Matrix invested $7.1M in research and development in fiscal year 2025.

Share Buybacks

$3.0M

YoY+2337.0%

Golden Matrix spent $3.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 2337.0% from the prior year.

Capital Expenditures

$6.2M

YoY-13.7%

Golden Matrix invested $6.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.7% from the prior year.

GMGI Income Statement

Metric	FY25	FY24	FY23	FY22	FY19	FY18
Revenue	$182.9M+21.0%	$151.1M+62.5%	$93.0M+158.1%	$36.0M+7858.7%	$453K	$0
Cost of Revenue	$79.4M+27.0%	$62.5M+152.7%	$24.8M-7.9%	$26.9M+122057.6%	$22K-69.4%	$72K
Gross Profit	$103.5M+16.8%	$88.6M+29.8%	$68.2M+644.8%	$9.2M	N/A	-$72K
R&D Expenses	$7.1M	N/A	$48K+106.0%	$23K	$0	$0
SG&A Expenses	$199.6M+132.6%	$85.8M+57.5%	$54.5M+789.0%	$6.1M	N/A	$186K
Operating Income	-$96.2M-3605.1%	$2.7M-80.1%	$13.8M+7047.9%	$192K-89.4%	$1.8M+282.9%	-$991K
Interest Expense	$4.6M+30.0%	$3.5M+9637.3%	$36K	$0-100.0%	$45K-72.0%	$162K
Income Tax	-$5.2M-1948.2%	$282K-82.1%	$1.6M+274.8%	$419K	N/A	N/A
Net Income	-$92.0M-6114.0%	-$1.5M-110.8%	$13.7M+31022.3%	$44K-97.5%	$1.8M+234.2%	-$1.3M
EPS (Diluted)	$-7.76	$0.05	$0.16+1700.0%	$-0.01-116.7%	$0.06+135.3%	$-0.17

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q2'24
Revenue	$47.3M+9.4%	$43.2M+1.2%	$42.7M-6.8%	$45.9M+11.9%	$41.0M+4.0%	$39.4M+232.8%	$11.8M-46.7%	$22.2M
Cost of Revenue	$20.9M+10.9%	$18.9M+1.8%	$18.5M-2.8%	$19.1M+2.6%	$18.6M+4.8%	$17.7M+109.4%	$8.5M+38.5%	$6.1M
Gross Profit	$26.4M+8.2%	$24.4M+0.7%	$24.2M-9.7%	$26.8M+19.6%	$22.4M+3.3%	$21.7M+542.5%	$3.4M-79.0%	$16.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$26.8M+0.3%	$26.7M+9.8%	$24.3M-9.6%	$26.9M+15.0%	$23.4M+8.4%	$21.6M+822.7%	$2.3M-81.8%	$12.9M
Operating Income	-$388K+83.2%	-$2.3M-2074.0%	-$106K-6.9%	-$99K+89.8%	-$976K-880.4%	$125K-55.2%	$279K-91.4%	$3.2M
Interest Expense	$511K-65.5%	$1.5M+0.7%	$1.5M-45.4%	$2.7M+241.0%	$790K+2332.6%	$32K+5314.0%	$600-85.2%	$4K
Income Tax	$202K-58.9%	$490K+245.9%	-$336K+85.9%	-$2.4M-228.2%	$1.9M+255.1%	$525K+100.2%	$262K-17.2%	$317K
Net Income	$566K+115.8%	-$3.6M-1447.6%	-$232K+89.1%	-$2.1M+37.4%	-$3.4M-5345.4%	$65K-12.9%	$75K-97.9%	$3.5M
EPS (Diluted)	$0.00+100.0%	$-0.03	$0.00	N/A	$-0.03	$0.00	$0.00-100.0%	$0.04

GMGI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY19	FY18
Total Assets	N/A	$213.7M+167.6%	$79.9M+132.2%	$34.4M+918.6%	$3.4M+170.1%	$1.2M
Current Assets	N/A	$45.1M+67.4%	$26.9M+26.9%	$21.2M+528.5%	$3.4M+170.1%	$1.2M
Cash & Equivalents	N/A	$30.1M+47.6%	$20.4M+32.3%	$15.4M+569.1%	$2.3M+297.2%	$580K
Inventory	N/A	$3.9M+2840.8%	$134K-91.7%	$1.6M	N/A	N/A
Accounts Receivable	N/A	$6.1M+126.6%	$2.7M-23.3%	$3.5M+622.7%	$483K+4438.8%	$11K
Goodwill	N/A	$71.2M+586.3%	$10.4M0.0%	$10.4M	N/A	N/A
Total Liabilities	N/A	$104.8M+427.4%	$19.9M+413.8%	$3.9M+135.9%	$1.6M-14.4%	$1.9M
Current Liabilities	N/A	$63.6M+261.6%	$17.6M+359.0%	$3.8M+133.6%	$1.6M-7.4%	$1.8M
Long-Term Debt	N/A	$14.4M	$0	N/A	N/A	N/A
Total Equity	N/A	$105.1M+78.0%	$59.0M+93.5%	$30.5M+1657.4%	$1.7M+360.9%	-$666K
Retained Earnings	N/A	$57.0M-3.8%	$59.3M+336.1%	-$25.1M+3.0%	-$25.9M+7.1%	-$27.9M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q2'24
Total Assets	$209.8M-0.2%	$210.3M-1.7%	$214.0M+0.1%	$213.7M+0.1%	$213.5M+11.5%	$191.5M+139.9%	$79.9M+124.4%	$35.6M
Current Assets	$39.1M+0.5%	$39.0M-15.2%	$45.9M+1.9%	$45.1M-20.5%	$56.7M+16.7%	$48.6M+80.3%	$26.9M+17.8%	$22.9M
Cash & Equivalents	$22.0M-0.4%	$22.1M-25.4%	$29.7M-1.5%	$30.1M-21.6%	$38.4M+17.0%	$32.8M+60.9%	$20.4M+24.9%	$16.3M
Inventory	$5.7M+19.3%	$4.8M-2.4%	$4.9M+23.9%	$3.9M-10.8%	$4.4M+32.2%	$3.3M+2394.5%	$134K-92.2%	$1.7M
Accounts Receivable	$7.2M+2.2%	$7.1M+3.0%	$6.9M+13.6%	$6.1M-28.7%	$8.5M+17.6%	$7.2M+170.1%	$2.7M-24.7%	$3.6M
Goodwill	$71.3M+0.1%	$71.3M+0.3%	$71.0M-0.3%	$71.2M+13163.4%	$537K	N/A	$10.4M0.0%	$10.4M
Total Liabilities	$82.7M-3.1%	$85.3M-16.0%	$101.6M-3.0%	$104.8M-8.8%	$114.9M+13.6%	$101.1M+409.1%	$19.9M+343.5%	$4.5M
Current Liabilities	$64.4M+1.3%	$63.6M+2.5%	$62.0M-2.4%	$63.6M-8.4%	$69.4M+35.2%	$51.3M+192.0%	$17.6M+292.3%	$4.5M
Long-Term Debt	$8.7M-22.8%	$11.3M-15.8%	$13.5M-6.3%	$14.4M-11.2%	$16.2M-16.7%	$19.4M	$0	N/A
Total Equity	$123.5M+1.9%	$121.3M+11.8%	$108.5M+3.3%	$105.1M+11.5%	$94.3M+4.3%	$90.4M+53.1%	$59.0M+89.8%	$31.1M
Retained Earnings	$53.7M+1.1%	$53.2M-6.4%	$56.8M-0.4%	$57.0M-3.6%	$59.2M-5.4%	$62.6M+5.5%	$59.3M+329.4%	-$25.8M

GMGI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY19	FY18
Operating Cash Flow	$25.4M+6.0%	$23.9M+1.0%	$23.7M+754.8%	$2.8M+90.9%	$1.5M+379.6%	$303K
Capital Expenditures	$6.2M-13.7%	$7.2M+24.7%	$5.7M+15528.4%	$37K	N/A	N/A
Free Cash Flow	$19.2M+14.5%	$16.8M-6.7%	$17.9M+556.2%	$2.7M	N/A	N/A
Investing Cash Flow	-$22.0M+41.2%	-$37.4M-186.5%	-$13.1M-196.6%	-$4.4M	$0	$0
Financing Cash Flow	-$19.4M-170.0%	$27.7M+767.2%	-$4.2M-13080.1%	$32K+119.1%	-$167K-241.0%	$119K
Dividends Paid	$145K-81.2%	$770K-57.2%	$1.8M	N/A	N/A	N/A
Share Buybacks	$3.0M+2337.0%	$123K+280.9%	$32K	$0	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q2'24
Operating Cash Flow	$7.0M+195.8%	$2.4M-69.3%	$7.7M-53.4%	$16.6M+248.5%	$4.8M+350.1%	-$1.9M-23396.4%	$8K-99.8%	$5.2M
Capital Expenditures	$850K-65.5%	$2.5M+122.8%	$1.1M-65.2%	$3.2M+29.7%	$2.5M+315.4%	$591K+39029.6%	$2K-99.8%	$766K
Free Cash Flow	$6.2M+7018.4%	-$89K-101.3%	$6.6M-50.6%	$13.4M+481.3%	$2.3M+192.5%	-$2.5M-37550.9%	$7K-99.8%	$4.4M
Investing Cash Flow	-$3.2M+51.2%	-$6.6M-22.9%	-$5.3M+66.0%	-$15.7M-49.5%	-$10.5M-17.7%	-$8.9M-591544.3%	-$2K+99.9%	-$2.3M
Financing Cash Flow	-$2.8M+69.6%	-$9.3M-86.0%	-$5.0M+0.1%	-$5.0M-152.4%	$9.6M-57.3%	$22.3M+2150.8%	-$1.1M-14.4%	-$952K
Dividends Paid	$0	$0	$0	$0	$0	$0-100.0%	$380K-20.0%	$474K
Share Buybacks	$0	N/A	N/A	$121K	N/A	N/A	N/A	$0

GMGI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY19	FY18
Gross Margin	56.6%-2.0pp	58.6%-14.8pp	73.4%+47.9pp	25.4%	N/A	N/A
Operating Margin	-52.6%-54.4pp	1.8%-13.0pp	14.8%+14.3pp	0.5%-399.7pp	400.3%	N/A
Net Margin	-50.3%-49.3pp	-1.0%-15.7pp	14.7%+14.6pp	0.1%-390.8pp	390.9%	N/A
Return on Equity	N/A	-1.4%-24.6pp	23.2%+23.1pp	0.1%-101.8pp	101.9%	N/A
Return on Assets	N/A	-0.7%-17.8pp	17.2%+17.0pp	0.1%-52.3pp	52.4%+157.9pp	-105.5%
Current Ratio	N/A	0.71-0.8	1.53-4.0	5.54+3.5	2.06+1.4	0.71
Debt-to-Equity	N/A	0.14+0.1	0.00-0.1	0.13-0.8	0.94+3.8	-2.88
FCF Margin	10.5%-0.6pp	11.1%-8.2pp	19.3%+11.7pp	7.6%	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q2'24
Gross Margin	55.8%-0.6pp	56.4%-0.3pp	56.6%-1.8pp	58.4%+3.8pp	54.6%-0.4pp	55.0%+26.5pp	28.5%-44.0pp	72.5%
Operating Margin	-0.8%+4.5pp	-5.3%-5.1pp	-0.3%-0.0pp	-0.2%+2.2pp	-2.4%-2.7pp	0.3%-2.0pp	2.4%-12.2pp	14.5%
Net Margin	1.2%+9.5pp	-8.3%-7.8pp	-0.5%+4.1pp	-4.7%+3.7pp	-8.3%-8.5pp	0.2%-0.5pp	0.6%-15.0pp	15.7%
Return on Equity	0.5%+3.4pp	-3.0%-2.8pp	-0.2%+1.8pp	-2.0%+1.6pp	-3.6%-3.7pp	0.1%-0.1pp	0.1%-11.1pp	11.2%
Return on Assets	0.3%+2.0pp	-1.7%-1.6pp	-0.1%+0.9pp	-1.0%+0.6pp	-1.6%-1.6pp	0.0%-0.1pp	0.1%-9.7pp	9.8%
Current Ratio	0.610.0	0.61-0.1	0.74+0.0	0.71-0.1	0.82-0.1	0.95-0.6	1.53-3.6	5.10
Debt-to-Equity	0.07-0.0	0.09-0.0	0.12-0.0	0.14-0.0	0.17-0.0	0.21+0.2	0.00-0.1	0.14
FCF Margin	13.1%+13.3pp	-0.2%-15.7pp	15.5%-13.7pp	29.3%+23.6pp	5.6%+12.0pp	-6.3%-6.4pp	0.1%-19.7pp	19.8%

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Frequently Asked Questions

What is Golden Matrix's annual revenue?

Golden Matrix (GMGI) reported $182.9M in total revenue for fiscal year 2025. This represents a 21.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Golden Matrix's revenue growing?

Golden Matrix (GMGI) revenue grew by 21% year-over-year, from $151.1M to $182.9M in fiscal year 2025.

Is Golden Matrix profitable?

No, Golden Matrix (GMGI) reported a net income of -$92.0M in fiscal year 2025, with a net profit margin of -50.3%.

What is Golden Matrix's EBITDA?

Golden Matrix (GMGI) had EBITDA of -$81.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Golden Matrix's gross margin?

Golden Matrix (GMGI) had a gross margin of 56.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Golden Matrix's operating margin?

Golden Matrix (GMGI) had an operating margin of -52.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Golden Matrix's net profit margin?

Golden Matrix (GMGI) had a net profit margin of -50.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Golden Matrix's free cash flow?

Golden Matrix (GMGI) generated $19.2M in free cash flow during fiscal year 2025. This represents a 14.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Golden Matrix's operating cash flow?

Golden Matrix (GMGI) generated $25.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Golden Matrix's capital expenditures?

Golden Matrix (GMGI) invested $6.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Golden Matrix spend on research and development?

Golden Matrix (GMGI) invested $7.1M in research and development during fiscal year 2025.

Does Golden Matrix buy back shares?

Yes, Golden Matrix (GMGI) spent $3.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Golden Matrix have outstanding?

Golden Matrix (GMGI) had 13M shares outstanding as of fiscal year 2025.

Are Golden Matrix's earnings high quality?

Golden Matrix (GMGI) has an earnings quality ratio of -0.28x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Golden Matrix cover its interest payments?

Golden Matrix (GMGI) has an interest coverage ratio of -21.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.