Galaxy Gaming, Inc.

Galaxy Gaming, Inc. entered into a First Amendment to its Credit Agreement with BMO Bank N.A., allowing the company to repurchase up to $4 million of its capital stock, equity interests, or warrants. The buyback is contingent on several conditions, including that the sole source of funds must be the $5.23 million termination fee received from Evolution Malta Holding Limited, and the company must maintain at least $5 million in unencumbered liquid assets post-repurchase. The amendment also adjusted the Fixed Charge Coverage Ratio and financial reporting requirements.

Galaxy Gaming, Inc. announced that its Board of Directors authorized a new share repurchase program of up to $4.0 million of its common stock, effective immediately. This new program supersedes a previous $750,000 authorization, under which no shares were repurchased. The decision follows the company receiving a $5.2 million termination fee from Evolution Malta Holding Limited, underscoring the Board's confidence in Galaxy's strategy, balance sheet, and management.

Galaxy Gaming announced preliminary financial results for the second quarter ended June 30, 2026. The company expects revenue between $7.8 million and $7.9 million, an increase from $7.5 million in Q2 2025. Net income is projected to be $0.9 million to $1.0 million, compared to $1.0 million in the prior year. Adjusted EBITDA is anticipated to be $3.3 million to $3.4 million, up from $3.2 million in Q2 2025. The company highlighted an approximate 8% year-over-year increase in recurring revenue.

Galaxy Gaming, Inc. announced that Evolution Malta Holding Limited terminated their Agreement and Plan of Merger, originally dated July 18, 2024. As a result, Evolution is obligated to pay Galaxy Gaming a termination fee of $5,234,678 within two business days of the July 21, 2026 termination date. Despite the termination, Galaxy Gaming's CEO, Matt Reback, stated the company remains committed to independent growth and maintaining its relationship with Evolution.

Galaxy Gaming, Inc. announced an update regarding its merger agreement with Evolution Malta Holding Limited. The previously established Outside Date of July 17, 2026, for the merger's completion has passed without the satisfaction or waiver of the remaining regulatory closing conditions. While two gaming regulatory approvals are still pending, neither party has terminated the agreement, and Galaxy Gaming is currently evaluating its options, which include seeking an extension or terminating the merger agreement.

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.