EveryMatrix, one of the fastest-growing technology providers in the iGaming industry, has reported record-breaking quarterly and annual financial results, showcasing unprecedented revenue growth and profitability.
EveryMatrix, a global tier-1 provider, has significantly accelerated its expansion over the past five years, culminating in record-breaking results in Q4 2024 and for the full year. The company achieved its best-ever quarterly and annual performance, reporting an all-time high annual net revenue of €181 million, marking a 59% YoY increase, alongside EBITDA of €101 million, up 70% YoY. This also marked its seventh consecutive year with a profit margin exceeding 50%.
Key drivers of this success include large-scale customer launches, major deal wins, rapid growth in its core sports and casino business units, and robust sports trading margins.
In Q4 2024 alone, EveryMatrix recorded a net revenue of €55 million across all products, a 51% YoY increase, with EBITDA reaching €30 million, up 49% YoY.
The company’s growth was further supported by two strategic acquisitions in 2024: FSB Technology in July and Fantasma Games in October. Both teams and products have been fully integrated, contributing to the Group’s revenue and strategy in sportsbook platform development and games content. These acquisitions were completed in all-cash transactions, funded entirely from cash flow, keeping EveryMatrix debt-free.
In Q4 2024, EveryMatrix’s Casino business unit achieved its thirteenth consecutive record-breaking quarter, generating €782 million in GGR, a 33% YoY increase. The last 12 months saw GGR reach €2.8 billion, up 49% YoY, with over 73 billion game rounds processed. Quarterly casino net revenue rose to €27.1 million, a 52% YoY increase, while EBITDA climbed 46% YoY to €16.7 million. SlotMatrix expanded significantly, adding 1,145 unique game titles and integrating 33 new vendors in Q4 2024, surpassing 175 vendors in total—leading the aggregation market.
OddsMatrix recorded remarkable growth, with betting volumes up 73% YoY and a 14x increase over five years. In 2024, bets exceeded 515 million. Q4 sportsbook turnover reached €1.9 billion, totaling €5.9 billion for the year, reflecting a 50% YoY increase. Quarterly sportsbook GGR hit €160 million, up 115% YoY, while full-year GGR soared 135% YoY to €448 million. Net revenue for Q4 rose 92% YoY to €17.5 million, with EBITDA increasing 133% YoY to €11.4 million. OddsMatrix also hosted over 2 million live events in 2024, a 16% YoY growth driven by premium content additions.
Platform Growth: GamMatrix, EveryMatrix’s Player Account Management system, processed 450,000 gaming transactions per minute at peak, up 12% QoQ, while expanding into Peru and Croatia. Q4 net revenue rose 9% YoY to €8.6 million, and EBITDA reached €2.8 million. MoneyMatrix, the payment platform, processed 230 million transactions in 2024, doubling YoY, with daily transactions increasing 25x since 2020.
Affiliate Division: PartnerMatrix integrated PartnerMatrix Intelligence, combining affiliate software with intelligence tools. Despite signing 96 new deals in 2024, the division underperformed. Q4 net revenue grew 2% YoY to €1.4 million, but EBITDA decreased to -€0.4 million. Full-year net revenue rose 26% YoY to €5.6 million, with EBITDA at -€1.1 million. This remains the only underperforming area for EveryMatrix.
Ebbe Groes, the Group CEO of EveryMatrix, mentioned:
The timing of our results at ICE couldn’t be better while the industry gathers at the biggest event of the year.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.
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 and my heartfelt thanks go to our customers and our staff. Your loyalty and efforts jointly did this. We will keep pushing to improve all products help our clients’ continued growth!
Q4 & FULL-YEAR 2024 HIGHLIGHTS
- Record Net Revenue: €55m for the quarter, up 51% YoY; full-year revenue reached €181m, a 59% YoY increase.
- Record EBITDA: €30m for the quarter, up 49% YoY; full-year EBITDA totalled €101m, a 70% YoY growth.
- Integration of Fantasma Games into EveryMatrix Games business unit immediately contributing to Group revenues – follows integration and on-schedule migration of FSB Technology customers.
- Record year for OddsMatrix with all-time high sportsbook turnover, margins, live events and bet volumes.
- Live with first omni-channel turnkey technology solution for Croatia’s Arena Casino.
- BetMGM and Rush Street Interactive live with SlotMatrix in-house content in West Virginia, US.
- Achieved gold-standard GLI-19 and GLI-33 certifications for core platform products.
- Launched ‘Academy for Heroes’ – second fully funded NGO in Ukraine for war veterans to develop IT careers.
- 41% annual growth in staff, with total now at 1,300.
