EveryMatrix Achieves Historic Financial Milestones in 2023

EveryMatrix has reported its strongest financial performance to date, marking 2023 as a year of unprecedented growth and profitability in its 16-year history. The iGaming technology provider revealed a 56% quarterly profit margin for Q4 2023, marking its third consecutive quarter surpassing the 50% threshold.

The company announced combined Q4 and full-year financial results, showcasing a record annual net revenue of €114 million (£97.6 million/€122.3 million) across all products. This represents a 75% increase from 2022’s €65 million and a significant leap from €28 million in 2019, illustrating more than fourfold growth in four years.

EveryMatrix experienced substantial growth in all business segments during Q4, with record quarterly net revenue of €36 million, an 87% year-on-year (YoY) increase. The company’s annual EBITDA skyrocketed to €60 million for the full year, up 155% compared to 2022, and €20 million for the quarter, marking a 194% YoY increase. This growth was propelled by robust sports trading margins and substantial expansion across its casino segment.

The remarkable financial outcomes in 2023 were driven by EveryMatrix’s continuous excellence in technology and service delivery, catering to over 300 global customers. Noteworthy achievements include the largest turnkey platform launches with the Hungarian state lottery, Szerencsejáték Zrt, and Bet-at-home in Germany. These partnerships, going live with EveryMatrix’s turnkey platform and sportsbook solutions at the end of 2023, have already started to yield impressive results.

Additionally, EveryMatrix enhanced its affiliate division by acquiring DeepCI, a leading iGaming intelligence platform. This acquisition, completed in Q4 2023, has enabled PartnerMatrix to offer its clients groundbreaking data tracking across millions of affiliate publisher pages, uncovering new opportunities and enhancing brand visibility and profitability.

In late December 2023, EveryMatrix launched PlayMatrix, a new live casino product vertical. PlayMatrix’s debut offering, a live Roulette product, features a state-of-the-art platform and user interface developed using the latest technology, including 4K digital video signal processing with low latency. This launch signifies EveryMatrix’s commitment to providing next-generation gaming experiences.

The Casino business unit’s Gross Gaming Revenue (GGR) for Q4 2023 reached €588 million, an 89% increase YoY, with the full year GGR totaling €1.9 billion, up 83% YoY. Casino net revenue and EBITDA also saw significant increases, emphasizing the unit’s exceptional performance.

The OddsMatrix sports division reported its most successful year, with record growth, profitability, and a significant increase in the number of bets placed by tier-1 customers. This achievement highlights EveryMatrix’s strength in sports betting, underscored by substantial YoY increases in net revenue, EBITDA, and sports GGR.

The Platform and Affiliate Platform divisions also reported strong financial results, with notable YoY revenue and EBITDA growth. Despite accelerated product investment impacting the Affiliate Platform division’s EBITDA, net revenue saw a considerable increase.

EveryMatrix’s landmark year underscores its position as a leading force in the iGaming industry, driven by strategic tier-1 deliveries, product innovation, and a focus on growth and profitability. As EveryMatrix continues to set new records and expand its offerings, its contribution to the iGaming landscape remains invaluable.

Ebbe Groes, Group CEO of EveryMatrix, said: “2022 was phenomenal but this year’s numbers are mind blowing. Every business unit and every one of our employees has contributed to a stellar set of financials proving we really are among, if not, the industry’s fastest growing iGaming technology supplier.

“Our growth acceleration from 2019 to today is staggering, while crucially we continue to deliver huge returns for our customers. Particularly pleasing has been the development of our OddsMatrix technology where the team’s hard work has paid off in both winning and delivering to some of the largest operators in Europe. The last 12 months have propelled OddsMatrix to joining the ranks of the industry’s largest sportsbook providers.

“Our progress shows no signs of slowing with investment in PlayMatrix; an exciting new live casino product, new technologies, innovations, and new tier-1 customers in the pipeline, while we are closing in on our 1,000th employee at the same time as opening a state-of-the art, purpose-built headquarters in Bucharest. The future is very bright for EveryMatrix in 2024 and beyond.”

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