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Today, Galaxy Gaming, Inc. (OTCQB:GLXZ), a gaming company with $31.52M in revenue and an impressive 95.9% gross profit margin, announced a change in its certifying accountant following a merger between its former accounting firm, Moss Adams LLP, and Baker Tilly US, LLP. According to InvestingPro data, the company has shown remarkable performance with a 95.1% return over the past year. Effective June 3, 2025, the merged audit practices will operate under the Baker Tilly name. Consequently, Moss Adams has resigned as Galaxy Gaming’s auditor, and the company’s Audit Committee has approved Baker Tilly as the new independent registered public accounting firm.
The audit reports from Moss Adams on Galaxy Gaming’s consolidated financial statements for the years ending December 31, 2024, and 2023, did not contain adverse opinions or disclaimers, nor were they qualified in terms of uncertainty, audit scope, or accounting principles. InvestingPro analysis reveals the company maintains a healthy current ratio of 1.55, indicating strong ability to meet short-term obligations. InvestingPro subscribers have access to 5 additional key financial tips about Galaxy Gaming’s performance and prospects.
During the periods in question, Galaxy Gaming reported no disagreements with Moss Adams concerning accounting principles, financial statement disclosures, or auditing procedures. Additionally, there were no reportable events requiring disclosure under Item 304(a)(1)(v) of Regulation S-K. With a market capitalization of $70.71M, Galaxy Gaming maintains a FAIR overall financial health score according to InvestingPro’s comprehensive analysis framework.
Galaxy Gaming confirmed that neither the company nor its representatives consulted with Baker Tilly on accounting principles or potential audit opinions during the relevant periods. The company requested and received a letter from Moss Adams, confirming its agreement with the statements in the 8-K filing. This letter, dated June 5, 2025, was filed as an exhibit to the report.
The information is based on a press release statement from Galaxy Gaming, Inc., filed with the Securities and Exchange Commission.
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