Galaxy Gaming, Inc.
2.8000-0.01 (-0.36%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · GLXZ · USD
Key Stats
Market Cap
70.88MP/E (TTM)
-Basic EPS (TTM)
-0.16Dividend Yield
0%Recent Filings
8-K
Merger deadline extended
Galaxy Gaming's merger with Evolution's subsidiary extended automatically to January 18, 2026, after meeting all conditions except gaming approvals on October 18, 2025. The companies push regulators for nods expected in November or December, eyeing a year-end close. Uncertainty lingers over approvals. Delays risk derailing the deal.
10-Q
Q2 FY2025 results
Galaxy Gaming's Q2 revenue dipped 11.7% y/y to $7.5M, driven by a 21.5% drop in core revenue from lower perpetual license sales, yet digital revenue rose 11.5% y/y on content expansion. Operating income fell 17.1% y/y to $1.9M, but net income surged 291.6% y/y to $0.95M thanks to slashed interest expense after refinancing. For the half-year, revenue declined 7.3% y/y to $15.3M with a $1.1M net loss, mainly from a $3.0M debt extinguishment charge; diluted EPS of $(0.04) aligns with 25.97M weighted shares. Cash from operations hit $4.3M, funding $1.2M in investments, while $5.0M cash balances support the $42M BMO term loan maturing 2030. The pending Evolution merger, extended to October 2025 pending gaming approvals, adds acquisition costs. Merger delays pose regulatory risks.
8-K
Merger deadline extended
Galaxy Gaming's merger with Evolution's subsidiary hit its initial July 18, 2025 deadline, but automatically extended to October 18 due to pending gaming regulatory approvals—all other conditions met. The parties remain engaged with regulators, eyeing a close in the second half of 2025, though further extension to January 2026 looms if needed. Uncertainty lingers over approvals. Delays disrupt operations.
8-K
Auditor merger prompts switch
Galaxy Gaming's auditor Moss Adams resigned on June 3, 2025, following its merger with Baker Tilly, which the Audit Committee promptly approved as the new independent firm. No disagreements or reportable events marred the prior audits for 2023 and 2024, ensuring a seamless transition. Clean handover. This maintains audit continuity without disruptions.
10-Q
Q1 FY2025 results
Galaxy Gaming's Q1 revenue dipped 2.7% year-over-year to $7.8M, with core licensing off 7.1% due to lower perpetual sales while digital grew 6.3% on market expansion. Operating income fell 14.5% to $2.0M, but margins held steady around 25% amid lower ancillary costs. A $3.0M loss on debt extinguishment swung net income to a $2.0M loss from last year's $0.2M profit, driven by refinancing Fortress debt to a cheaper BMO facility maturing 2030 with $44.6M outstanding and $2.0M revolver availability. Cash dropped to $5.3M after the swap, yet operations generated $1.2M. Merger with Evolution awaits regulatory nods in H2 2025. Client concentration risks linger, with one at 20%. Refinancing eases the load.
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