Quarterly ResultMay 11, 2026, 06:02 AM
Galaxy Gaming Swings to Q1 Net Income of $1.37M; Revenue Down
AI Summary
Galaxy Gaming reported a significant financial turnaround in Q1 2026, swinging to a net income of $1.37 million, compared to a net loss of $2.02 million in the prior year period. Basic EPS improved to $0.05 from $(0.08). While total revenue saw a slight decrease to $7.66 million, net cash provided by operating activities increased substantially. The company also provided an update on its pending merger with Evolution Malta Holding Limited, confirming the outside date has been extended to July 17, 2026, as gaming regulatory approvals are still being secured.
Key Highlights
- Net income for Q1 2026 was $1.37 million, a significant improvement from a $2.02 million net loss in Q1 2025.
- Basic EPS improved to $0.05 in Q1 2026 from $(0.08) in Q1 2025.
- Total revenue slightly decreased to $7.66 million in Q1 2026 from $7.78 million in Q1 2025.
- Net cash provided by operating activities increased to $2.54 million in Q1 2026 from $1.17 million in Q1 2025.
- The Americas revenue decreased to $4.05 million in Q1 2026 from $4.50 million in Q1 2025.
- Europe, Middle East and Africa revenue increased to $3.61 million in Q1 2026 from $3.28 million in Q1 2025.
- Merger with Evolution Malta Holding Limited is ongoing, with the outside date extended to July 17, 2026.
- Long-term debt decreased to $38.81 million from $39.63 million as of December 31, 2025.