EveryMatrix has announced historic quarterly and annual financial results with record revenues, its strongest-ever growth and increased profitability.
The B2B gaming provider reported an all-time high annual net revenue of €181 million ($188.6 million), up 59% year over year. Its annual EBITDA also broke the €100 million barrier for the first time ever at €101 million ($105.2 million), up 70% from last year.
In Q4 2024, net revenue was at a new record of €55 million ($57.3 million) across all products, up 51% YoY. Q4 EBITDA was €30 million ($31.1 million), 49% higher than Q4 2023.
All in all, EveryMatrix enjoyed its seventh consecutive profit margin of more than 50%, which it said was driven by large-scale customer launches and deal wins as well as continued and rapid growth in its core sports and casino business units.
FSB and Fantasma buys are paying dividends
The company noted that after its all-cash acquisitions of FSB Technology in July and Fantasma Games in October, both teams and products have been integrated and are already contributing to group revenues and strategy.
FSB has added approximately 14% additional gross gaming revenue to the group’s sportsbook business unit volumes and has strengthened key areas including the OddsMatrix sportsbook, said EveryMatrix. In Q4 2024, OddsMatrix increased betting volumes 73% YoY and by a factor of 14 over a period of five years. The platform set new annual records for sportsbook turnover, margins, live events and bet volumes.
The company also credited the FSB acquisition for opening it up to the UK and African markets.
Fantasma Games brought on board 45 well-known game titles that are already live with more than 250 operators and played by millions of players across 50+ countries. This increased EveryMatrix’s in-house portfolio to 120+ games. The company said Fantasma’s market distribution will boost its presence in rapidly growing markets.
North America a key focus
The company stressed in its year-end report that North America remains a key focus area.
SlotMatrix went live in West Virginia during the quarter and announced an exclusive content deal with BetMGM and Rush Street Interactive in the state just last week. The platform is now licensed in all U.S. iGaming states. The SlotMatrix commercial team was also strengthened with the arrival of former Evolution Games Chief Commercial Officer Björn Sjöberg as CCO.
“I’m proud of all our achievements in 2024 but particularly in sports where OddsMatrix has undergone an incredible period of growth, increasing betting volumes by a factor 14 in just five years,” said Group CEO Ebbe Groes.
“The system’s ability to handle this mega growth for bet placement, bet settlement and risk management, while simultaneously adding many features, is proof of just how solid its architecture is. In this quarter alone, we launched a completely rewritten Risk Management module, infinitely scalable and with many new features. Several clients have already migrated to it.
“The momentum we’ve set in the last few years shows no signs of slowing down. Most of all, this is a result of our clients growing with us.”
