EveryMatrix has reached an unprecedented milestone, achieving a record-breaking quarterly performance in Q1 2024, showcasing robust revenue growth and profitability. Announcing the results for the first quarter of 2024, the esteemed iGaming technology provider recorded a quarterly net revenue of €39 million across all products, marking a remarkable 66% Year-on-Year (YoY) growth. Moreover, EveryMatrix set a new quarterly profit margin record of 57%, marking the fourth consecutive quarter with both growth and profit margin exceeding 50%. In Q1 2024, the company’s EBITDA surged to €22.3 million, reflecting an impressive 111% YoY increase.
This achievement comes just three months after EveryMatrix delivered its strongest financial results in its history, setting the pace for a promising year ahead. Starting the year on a high note, EveryMatrix witnessed significant growth driven by key client acquisitions, numerous new client launches across all core business units, robust sports trading, innovation, and sustained growth in the casino segment. Noteworthy milestones include EveryMatrix’s regulatory accreditation in Peru, expansion into the US market with its first casino aggregation partner, and reaching a workforce of 1,000 employees across 13 global locations.
Quarterly Gross Gaming Revenue (GGR) performance in the casino segment soared to €619 million in Q1 2024, representing a substantial 65% YoY increase. The OddsMatrix sports division experienced a 31% YoY turnover rise, with Quarterly Gross Gaming Revenue (GGR) climbing by an impressive 308% YoY. The Platform segment witnessed quarterly net revenue growth of 28% YoY, with the EveryMatrix Player Account Management (PAM) system achieving a new record of 230k bets per minute at peak times. Additionally, the Affiliate Platform division saw net revenue grow to €1.4 million during the quarter, with notable expansions in the PartnerMatrix and DeepCI sectors.
Q1 2024 Highlights include regulatory accreditation in Peru, signing a turnkey customer with estimated annual net revenue of over €3 million, integration with DraftKings in New Jersey as the first US casino content aggregation partner, game content launch with Entain (BetMGM), Golden Nugget Online Gaming, and DraftKings, integration of 886 new games on the SlotMatrix aggregation platform, integration of seven new casino vendors, launch of several games by the in-house games studio Armadillo Studios, release of over 30 new betting types across multiple sports, signing of 15 new PartnerMatrix and 14 new DeepCI clients, and expansion of the company’s workforce to over 1,000 employees. For more detailed insights, refer to the full Q1 2024 Update on EveryMatrix.com.
Ebbe Groes, Group CEO of EveryMatrix, said: “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet.
“It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely
positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond.
“Watch this space as there is plenty more to come from EveryMatrix this year!”
