EveryMatrix achieved record-breaking net revenues in its most recent trading period, with gains on both the casino and sports verticals.
EveryMatrix’s revenue increased 79% on an annual basis to EUR60m (US $64.2m/UK £52.1m) in the quarter ending 30 September. The net revenue of EUR27.2m was a new record, up by 62% and with an annual CAGR 47%.
Strong growth in all business segments was the driving force behind the success of this technology provider. Casino had another record-breaking quarter, as operator clients generated EUR463m gross gaming revenues (GGR), an increase of 77%. The sports turnover jumped by 85%, to EUR810m. GGR also increased by 26%. The increase in GGR was due to a combination of exchange rate fluctuations, sporting results, and an increased promotion by its largest clients.
It is the third quarter in a row that organic net revenue has grown above 50%.
EveryMatrix experiences strong growth in all verticals
Casino has set another record for a consecutive quarter with a net revenue of EUR13,3m. This is up by 74%, and on a quarterly basis, it’s down 6%. EveryMatrix has introduced more than 890 casino games, as well as over 250 new games that were integrated by four casino vendors.
Sports net revenues reached EUR6.3m in Q2, up by 29% but down by 19% from the previous quarter. The number of bets increased by 65%, which led to a rise in revenue. The average monthly number of live events has also risen by 43%.
The platform’s net revenue reached EUR6.3m in Q3, which is an 87% increase and 8% growth compared with the previous quarter. MoneyMatrix saw a 59% rise in successful transactions. GamMatrix’s gaming and account management platform processed 110,00 bets per second during peak times, an increase of 22% over Q2.
EveryMatrix is increasingly dependent on its affiliates
EveryMatrix has reported its affiliate segment as a distinct entity for the first-time due to its increasing importance. The net revenue grew to EUR1.2m in Q3, up by 48% compared with the previous quarter. The addition of DeepCI in July 2023 was the main driver for this growth. DeepCI has more than doubled the geographical areas that it services, and now covers over 65 jurisdictions.
EBITDA grew 113% on a year-over-year basis to EUR13.7m. The business was able to achieve this despite negative exchange rate impacts, which they said showed the company’s ability to continue to turn growth into profit. EBITDA Margin decreased to 50%, from a high of 51% in Q2, due to exchange rate impacts and lower sports trading margins as compared to other participants in the industry.
EveryMatrix CEO is focused on new customers
Ebbe Groes said, “Our hard work paid off in this quarter, with another strong organic growth period and profitability. We have achieved some significant milestones and launched important tier-1 project.
The positive and social impact is proven to also drive a profitable and sustainable business. I was therefore particularly proud when in September the company became the first to receive WLA Safer Gaming Certification. We commit to ensuring that we adhere to high standards for safer gambling, player protection and all aspects of our business. I am looking forward to building upon this in the years to come.
Groes focused on the post-period as EveryMatrix was launched with Germany’s Bet at Home and TippmixPro, the online brand of Hungary’s national lottery. The company also entered into a multistate content-aggregation deal with BetPARX, a US-regulated operator.
Groes said, “Bet at home.de and SZRT were the most complicated technical and regulatory projects we had ever undertaken in 15 years. We have completed extensive turnkey project with flying colors and almost all EveryMatrix businesses have been involved.”
Both clients acknowledged the complexity of migration and integration, and praised our efforts. It gives me great pride, and I am confident about our future.
