EveryMatrix Achieves Record Financial Results, Crosses €100M EBITDA in 2024

EveryMatrix, a provider of iGaming technology, has reported exceptional financial results for both the fourth quarter (Q4) and full year (FY) of 2024, marking a historic period of growth and profitability. The company achieved its highest-ever net revenue of €181 million for FY24, a 59% year-over-year (YoY) increase, and a record EBITDA of €101 million, reflecting a 70% YoY growth.

This growth was driven by significant expansions across its core business units, particularly sports and casino, and bolstered by successful acquisitions of FSB Technology and Fantasma Games. EveryMatrix’s ability to integrate these new assets seamlessly has already contributed to the company’s revenue growth.

Q4 2024 was a standout quarter, with net revenue reaching €55 million, a 51% increase YoY. EBITDA for the quarter stood at €30 million, up 49% YoY. Key performance metrics in the casino and sportsbook sectors showed impressive increases, with Q4 GGR for casino operator partners reaching €782 million, a 33% YoY rise, while sportsbook turnover climbed 50% YoY to €1.9 billion.

The acquisition of FSB Technology in July and Fantasma Games in October proved pivotal, with both acquisitions adding significant value to EveryMatrix’s operations. FSB Technology’s integration has led to a 14% increase in Gross Gaming Revenue (GGR) in the sportsbook division, while Fantasma Games contributed 45 new game titles to EveryMatrix’s portfolio, expanding the company’s reach to over 250 operators in 50+ countries.

EveryMatrix also saw major strides in its platform services, with its OddsMatrix sportsbook increasing betting volumes by 73% YoY, including a record number of live events in 2024. The company also introduced its first omni-channel turnkey technology solution for Croatia’s Arena Casino, marking a new milestone in its product offerings.

In the United States, EveryMatrix made further progress with SlotMatrix, going live with BetMGM and Rush Street Interactive in West Virginia, offering in-house content to U.S. operators.

In addition to financial growth, EveryMatrix reached a key milestone in staffing, with the company’s employee base growing by 41%, bringing the total to 1,300 team members. Despite impressive growth in most divisions, the Affiliate unit faced challenges, with Q4 EBITDA showing a decrease.

The company’s achievements were recognized with seven industry awards, marking a record high, and it received the GLI-19 and GLI-33 certifications for its core platform products, reaffirming its position as a leader in the iGaming technology space.

Looking ahead, EveryMatrix is well-positioned to continue its expansion and drive further growth in 2025, with ongoing product development, new market entries, and strategic acquisitions on the horizon.

Ebbe Groes, Group CEO of EveryMatrix, said: “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!”