Galaxy Gaming net loss increases to $819,891 during Q4 2023

Updated:2024-04-02 08:23    Views:93

Galaxy Gaming has released its financial figures for the fourth quarter and the full year of 2023, showing a mixed set of results. 

Q4 2023

In the fourth quarter of 2023, the company saw increases in its revenue. Gross revenue grew 25% year-on-year to $8.4m, while net revenue also went up by 13%, to $6.7m. 

However, net loss was valued at $819,891 for Q4, compared with a net income figure of $55,104 during the same period in 2022. 

Adjusted EBITDA also decreased during the quarter, by 10%, to a sum of $2.8m, although excluding Employee Retention Tax Credits in Q4 2022,slots it actually rose by 10%.