Galaxy Gaming Inc. · OTC:GLXZ
Galaxy Gaming — Q3 2026 Earnings Presentation
30 slides from Galaxy Gaming's earnings presentation, Nov 9, 2026
Slide 1: Q3 2026 Updated with third quarter 2026 results
Q3 2026 | OTCQB: GLXZ Updated with third quarter 2026 results
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 © 2026, Galaxy Gaming, Inc. All rights reserved. This presentation contains, and oral statements made from time to time by our representatives may contain, forward-looking statements based on management's current expectations and projections, which are intended to qualif
Slide 3: Galaxy Gaming: Who We Are
Galaxy Gaming: Who We Are A pure-play table games supplier operating in two channels that share one content library — and generate +90% recurring revenue © 2026, Galaxy Gaming, Inc. All rights reserved. CORE — LAND-BASED A leading developer and supplier of proprietary table games, side bets and prog
Slide 4: Key Investment Highlights
Key Investment Highlights © 2026, Galaxy Gaming, Inc. All rights reserved. 1 Sustainable model based on recurring revenues 99% of Q3 2026 revenue recurring; monthly licenses and participation billing 2 Highly recognizable brands Perfect Pairs, Lucky Ladies, 21+3, EZ Baccarat, and MONOPOLY® 3 Two gro
Slide 5: One Content Library Drives Recurring Revenue Across Both Channels
One Content Library Drives Recurring Revenue Across Both Channels © 2026, Galaxy Gaming, Inc. All rights reserved. The omni-channel benefit: land-based builds the brands familiarity driving online demand. LAND-BASED +12% core recurring revenue, $4.43M to $4.96M since Q3 2024 Record progressive table
Slide 6: Consistent Long-Term Growth
Consistent Long-Term Growth Net income up 36% a year since FY2021 incl. the termination fee; revenue and Adjusted EBITDA ~10% each $ in thousands 1) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures; see the appendix for reconciliations to net income (loss) and to net income (loss) as
Slide 7: Recent Momentum
Recent Momentum © 2026, Galaxy Gaming, Inc. All rights reserved. Commercial wins, a deeper product pipeline and a simplified capital structure COMMERCIAL WINS NEW MARKET Resorts World NYC A significant presence at New York City's only full-scale casino, growing further in the fall 7 SHIPS MSC Cruise
Slide 8: Free Cash Flow Generation
Free Cash Flow (1) Generation From $0.6M in 2023 to $6.9M on a trailing twelve-month basis — now funding growth, deleveraging and buybacks at once Free Cash Flow (1) ($ in thousands) LTM 9/30/26 reflects a $0.9M, or 32% step-up in growth capital vs FY 2025 Progressive placements and internally devel
Slide 9: Land-Based
LAND-BASED GAMING MS Games, side bets, progressives and table technology © 2026 Galaxy Gaming Inc. MONOPOLY TM, ® &© 1935, 2026 Hasbro 5/// ro
Slide 10: How Land-Based Revenue Is Generated
How Land-Based Revenue Is Generated Galaxy bills a monthly recurring license per billable unit — every table in the casino is a canvas for Galaxy products Billable units are licensed individually and combine in any mix; a single table may carry a premium game, up to three side bets, a progressive an
Slide 11: One Table With Multiple Billable Units
One Table With Multiple Billable Units Each component is licensed and billed separately — a single table can carry multiple categories at once Illustrative configuration. Billable units are licensed individually; a single table may carry a premium game, up to three side bets, a progressive and a uti
Slide 12: Land-Based Opportunity
Land-Based Opportunity Three independent levers — each driving opportunity for increased revenue Pipeline items are subject to regulatory approval and customer timing. Casino, table, country and license counts reflect the most recent company disclosure. © 2026, Galaxy Gaming, Inc. All rights reserve
Slide 13: iGaming
IGAMING The same brands, distributed to the world's largest online operators © 2026 Galaxy Gaming Inc. SE ee .
Slide 14: How iGaming Revenue Is Generated
How iGaming Revenue Is Generated Two routes to market — direct to operators and through B2B content aggregators — and Galaxy is paid on every wager either way (1) MONOPOLY is only available on our land-based product offerings and is not part of our iGaming portfolio. Wager, site and market-share fig
Slide 15: iGaming Distribution and Customers
iGaming Distribution and Customers Two layers: B2B partners carry Galaxy content to operators; B2C operators put it directly in front of players B2B PARTNERS Carry Galaxy content into their own networks Hundreds of operator sites reached through each single partner integration + B2C PARTNERS Where p
Slide 16: iGaming Opportunity
iGaming Opportunity Three ways the same content library earns more online — with no incremental content cost Partner growth figures are for Q3 2026 versus Q3 2025. Market share, site counts and wager volumes reflect the most recent company disclosure. New jurisdictions and partner launches are subje
Slide 17: Third Quarter 2026
THIRD QUARTER 2026 Recurring revenue at a record, cash rising, leverage falling
Slide 18: Q3 2026 Financial Summary
Q3 2026 Financial Summary Record recurring revenue; one-time items drove the swings in net income and margin The Company defines Recurring Revenues, net of royalties, as Gross Revenue (from Core and Digital Revenues), less Perpetual License Sales of Progressive Gaming Systems and less Royalties Nett
Slide 19: Free Cash Flow Generation
Free Cash Flow Generation On a trailing twelve-month basis 9/30/2026, Free Cash Flow has risen 52% since 12/31/2024 as cash interest fell by 57% Free Cash Flow — trailing twelve months ($ in thousands) FREE CASH FLOW AS A % OF ADJUSTED EBITDA 35% 42% 40% 43% 52% 48% 49% 50% CASH PAID FOR INTEREST, N
Slide 20: Capital Structure and Deleveraging
Capital Structure and Deleveraging $19.9M of debt retired and the effective rate cut by 550+ bps since Q4 2024 — leverage down 1.67 turns Adjusted EBITDA is a non-GAAP measure; see the appendix for a reconciliation to net income (loss), the most directly comparable GAAP measure. Leverage is Total Cr
Slide 21: Capitalization
Capitalization Two actions in Q3 2026 removed 1.1 million shares used in calculating diluted earnings per share Shares outstanding per the Condensed Consolidated Balance Sheet in the Company's Form 10-Q for the quarter ended June 30, 2026. The warrants were issued to affiliates of Fortress in connec
Slide 22: Capital Allocation
Capital Allocation A recurring revenue model driving free cash flow funds growth and reduces leverage at the same time Cash provided by operations is for the nine months ended September 30, 2026. Capital returned occurred in Q3 2026. M&A criteria are Company policy and not a commitment to any transa
Slide 23: Investment Recap
Investment Recap Recurring revenue, two channels sharing one content library, and a balance sheet that now compounds 1) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures; see the appendix for reconciliations to net income (loss) and to net income (loss) as a percentage of revenue, the
Slide 24: Supporting Detail Appendix
SUPPORTING DETAIL APPENDIX \ Non-GAAP definitions, reconciliations and quarterly revenue detail AS Sh 3 © 2026 Galaxy Gaming Inc. tn,
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2026, Galaxy Gaming, Inc. All rights reserved. In order to enhance investor understanding of the underlying trends in our business, we present in this presentation Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), Adjusted EBIT
Slide 26: Appendix — Annual Financial Detail
Appendix — Annual Financial Detail $ in thousands, unaudited 2021 2022 2023 2024 2025 Revenue: Core Revenues: Recurring License Revenue $13,490 $15,124 $16,728 $21,029 $20,940 Perpetual License Sales of Progressive Gaming Systems 67 275 3,625 3,502 1,181 Gross Revenue 13,556 15,399 20,353 24,531 22,
Slide 27: Appendix — Quarterly Financial Detail
Appendix — Quarterly Financial Detail $ in thousands, unaudited Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Revenue: Core Revenues: Recurring License Revenue $5,272 $5,203 $5,156 $5,253 $5,180 $5,187 $5,320 $5,425 $5,500 $5,710 Perpetual License Sales of Progressi
Slide 28: Appendix — LTM Financial Detail
Appendix — LTM Financial Detail $ in thousands, unaudited LTM 3/31/25 LTM 6/30/25 LTM 9/30/25 LTM 12/31/25 LTM 3/31/26 LTM 6/30/26 LTM 9/30/26 Revenue: Core Revenues: Recurring License Revenue $20,884 $20,792 $20,776 $20,940 $21,112 $21,431 $21,954 Perpetual License Sales of Progressive Gaming Syste
Slide 29: Appendix — Footnotes
Appendix — Footnotes Definitions of the adjustments presented in the preceding tables © 2026, Galaxy Gaming, Inc. All rights reserved. NOTE DEFINITION 1 Represents the non-cash expense associated with the value of equity awards granted to employees, directors and consultants by the Company. 2 Repres
Slide 30: Thank You
OTCQB: GLXZ THANK YOU \ investors@ galaxygaming.com \ Galaxy Gaming, Inc. | 6480 Cameron Street Ste. 305, Las Vegas, NV 89118 . e © 2026 Galaxy Gaming Inc. Se “