EveryMatrix has reported quarterly revenues of EUR42.4m in Q2 (PS35.7m/$46.1m), following year-onyear growth for all its products. The supplier’s EBITDA also reached a record high.
EveryMatrix’s net revenue in Q2 of last year was EUR27.1m, 56.5% more than this. The previous quarter record of EUR39m in Q1 2014 was also surpassed by 14.3%.
The impact of recent M&A activities is not included in this figure. After adjusting for acquisitions the total revenue reaches EUR82m. This is 45% more than the previous year, compared with 56.5% growth of net revenue.
The group EBITDA in Q2 was EUR25.1m. This is up by 67.3% compared to last year, and also 12.6% more than the previous record for Q1. EveryMatrix also achieved a record revenue for the third quarter in a row. The EBITDA ratio also increased to 59%.
It’s hard to find the right words to describe our ever-improving results,” said CEO Ebbe Groes. It’s clear that this has been the best period for sustained growth in our history. The EveryMatrix Effect is also benefiting our customers who continue to smash their records every month.
EveryMatrix has experienced growth across the board
EveryMatrix’s Q2 growth was driven by its year-on-year increase in all four of its core segments, including casino, sportsbook, platform, and affiliate.
The casino is still the primary revenue source for this business, and Q2 was another record-breaking quarter. The gross gaming revenue reached EUR658m in the second quarter of this year. Net revenue increased by 73.8%. EBITDA also increased 93%, to EUR14.7m. The margin was 67%.
EveryMatrix increased its number of casino providers to over 160 during Q2. It introduced 1,047 new games, and nine were integrated by the company. In Q2, EveryMatrix launched its first RGS partner in the US, Supremeland. This was a key event that extended its presence in the US.
Sports betting revenue has reached an all-time high of EUR11.3m. This is a 44.9% increase over last year. EBITDA increased by 65%, to EUR7.2m. This resulted in a margin 64%. The EUR1,19bn turnover was up 48.9% from last year, but lower than Q4 2023 or Q1 2019.
In this market, the OddsMatrix live streaming service delivered a new record of 176,000 events per month. Total coverage of 500,000 live events was achieved in Q2, an increase of 16%, thanks to the introduction new content like table tennis events and esports.
DeepCI Affiliate rebrand and platform to build upon
Now let’s look at the platform business. This includes brands like GamMatrix MoneyMatrix DataMatrix. Net revenue in this area increased by 34.5%, to EUR7.8m. EBITDA jumped 26.0% to EUR3.4m with a margin of 43%.
In peak times, the system can process 255,000 wagers per minute. This figure includes bets on wins and reaches 340,000 bets a minute during peak hours. The amount of successful transactions increased by 80% on an annual basis, reaching EUR3,80bn.
Finaly, the net revenue for affiliates was EUR1.4m up 55.6%. EBITDA, however, fell by EUR150,000 to a negative margin of 11%. EveryMatrix attributed this to the product and commercial investments.
As part of PartnerMatrix, EveryMatrix has rebranded DeepCI as PartnerMatrix Intelligence. It will maximize synergies for clients and maximise client benefits. In Q2, the expanded PartnerMatrix company signed up another 26 clients.
EveryMatrix also mentioned its increasing staff count, now at 1,027. The company’s headcount is now 31% more than last year, excluding the staff that was added as a result FSB Technology’s recent acquisition (approximately 170-strong).
FSB Technology: Impact on the Economy
EveryMatrix, a sportsbook platform and specialist company announced this acquisition earlier in the month. The company will use FSB’s complete end-to-end solutions including horse racing software, player account management and other products.
The OddsMatrix Platform will be strengthened in several regulated markets, according to the provider. FSB is active in 13 countries, including the UK, Ireland, Slovakia and Croatia as well as Nigeria and South Africa.
EveryMatrix reported that FSB’s recent revenues have grown well. It hasn’t been enough to compensate for high costs of sales or fixed costs. This is why the financial results are “poor”. This means that FSB has not been able to break even despite recent staff reductions.
EveryMatrix is still confident that FSB can contribute positively to the earnings of its clients in 2025, and even beyond. It is particularly true in the case of sports betting, with 53% net revenue from FSB coming from this segment. Casino revenue was 29%, while platform revenue accounted for 18%.
EveryMatrix noted that FSB will lose money in 2024. Groes, however, is confident that it will achieve its long-term goals.
He said: “The acquisition and strengthening of PartnerMatrix by PartnerMatrix Intelligence, to create the strongest affiliate platform available is just one of the great ways we continue to build upon our success to grow our customer base even further.”
We have a lot of momentum and I am excited to see what comes next.
