Galaxy Gaming Reports Q1 2019 Financial Results Other OTC:GLXZ

LAS VEGAS, May 15, 2019 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems, announced today its financial results for the quarter ended March 31, 2019.

Financial Highlights 

Q1 2019 vs. Q1 2018 

  • Revenue increased 23% to $5,347K
  • Adjusted EBITDA increased 30% to $2,020K1
  • Net income of $461K vs. $537K 

Balance Sheet Changes (vs. December 31, 2018)

  • Cash increased 4% to $6,594K
  • Total debt (gross) decreased 3% to $9,845K
  • Stockholders’ equity increased 10% to $8,178K

Executive Comments

“Revenue in Q1 2019 was a new record and exceeded $5 million for the first time in our history,” said Todd Cravens, Galaxy’s President and CEO. “All of our continuing product segments grew in Q1, with…