Galaxy Gaming, Inc. (OTCQB: GLXZ) announced financial results for the third quarter ended September 30, 2026, reporting total revenue of $8.0 million. This figure represents a 9% increase from the $7.3 million recorded in the same period of the prior year. The company reported that recurring revenues, net of royalties, reached a record $8.0 million, accounting for more than 99% of total revenue.
Net income for the quarter increased to $5.1 million, or $0.20 per diluted share, compared to $1.0 million, or $0.04 per diluted share, in the prior year. This increase was primarily driven by a $5.2 million termination fee received from the terminated Evolution merger agreement, partially offset by $1.2 million in merger-related costs. Adjusted EBITDA remained relatively flat at $3.2 million, while free cash flow increased by 9% to $1.4 million.
In terms of balance sheet activity, the company returned $1.7 million of capital during the quarter. This included the repurchase of 330,758 shares at approximately $1.55 per share and the cancellation of all 778,320 outstanding warrants. As of September 30, 2026, Galaxy Gaming held $9.1 million in cash and cash equivalents, up from $4.3 million as of December 31, 2025. Total long-term debt decreased to $37.4 million, and total leverage stood at 2.75x as of the end of the quarter.
On the product front, the company’s MONOPOLY-branded progressive table games were named Product Innovation of the Year at the Global Gaming Awards Americas 2026. Additionally, the company unveiled Galaxy Link, a new linked progressive system, at the Global Gaming Expo (G2E).
