EveryMatrix, a leading iGaming technology supplier, has announced its Q2 2024 results, highlighting significant growth and record-breaking profit margins. The company achieved a record quarterly net revenue of €42.4 million across all products, marking a 57% year-on-year (YoY) increase. Additionally, EveryMatrix set an all-time high profit margin of 59%, maintaining its trend of exceeding 50% in both growth and profit margin for the fifth consecutive quarter.
EBITDA for Q2 2024 rose to €25.1 million from €22.3 million in Q1, representing a 67% YoY increase. This exceptional quarter was driven by key customer launches, positive sports trading margins, and ongoing growth in its core business units of casino and sportsbook. This achievement follows the company’s strongest annual financial results to date, reported six months earlier.
EveryMatrix, with a workforce of 1,000 employees, has experienced accelerated growth over the past six quarters. The recent acquisition of FSB Technology, a turnkey sportsbook provider, will further enhance OddsMatrix, EveryMatrix’s sportsbook platform and odds feeds division. This acquisition is expected to generate immediate additional revenues, cross-company synergies, and establish a stronger presence in the UK, Ireland, and Africa.
For the Casino segment, Q2 2024 Gross Gaming Revenue (GGR) performance for operator partners marked an eleventh consecutive record quarterly performance, reaching €658 million, a 53% YoY increase. Over the last 12 months, GGR increased by 69% YoY to €2.3 billion. Quarterly casino net revenue rose to €21.9 million, up 73% YoY, while EBITDA reached €14.7 million, reflecting a 93% YoY increase. The SlotMatrix aggregation product introduced 1,047 unique game titles and integrated six new vendors, bringing the total to 163.
In the sportsbook sector, OddsMatrix’s quarterly turnover rose 48% YoY to €1.2 billion and €4.6 billion over the last 12 months, reflecting a 56% YoY increase. GGR was up 67% YoY to €95 million. Net revenue for Q2 2024 reached €11.3 million, up 44% YoY, while EBITDA hit €7.2 million, a 65% increase. OddsMatrix also set a record with 176,000 live events in a single month and a total of 500,000 during the quarter, driven by the addition of premium content, table tennis, and new esports events.
The Platform division saw second quarter net revenue rise 35% YoY to €7.8 million, with EBITDA at €3.4 million, up 26% YoY. The EveryMatrix Player Account Management (PAM) system set a new record with 255,000 bets per minute at peak times, and successful payment transactions reached €3.8 billion, an 80% YoY increase.
The Affiliate Platform division, which includes PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, achieved net revenue of €1.4 million during the quarter, up 66% YoY. Despite an EBITDA decrease of €0.15 million due to continued product and commercial investment, the business unit signed 26 new customers during the quarter.
Q2 2024 Highlights:
- Acquisition of FSB Technology, enhancing EveryMatrix’s presence in the UK, Ireland, and Africa.
- Rebranding of PartnerMatrix Intelligence to create an all-in-one affiliate management and data tracking powerhouse.
- First US casino content aggregation partnership with Supremeland Gaming, Inc. on DraftKings via SlotMatrix in New Jersey.
- Recognition as Casino Software Supplier and Aggregator platform at EGR Awards, with SlotMatrix named Aggregator of the Year at CasinoBeats Developer Awards.
- Promotion of Mihnea Dobre to Group Chief Technology Officer.
- CasinoEngine surpassing 6 billion monthly game rounds and €6 billion monthly turnover.
- OddsMatrix setting a record with 176,000 live events in a single month.
- EveryMatrix’s continued growth and strategic acquisitions underscore its commitment to expanding its footprint in the iGaming industry, driving innovation, and delivering high-quality products and services to its partners and customers.
Ebbe Groes, Group CEO of EveryMatrix, said: “It’s difficult to know what to say when our results just keep getting better and better!
“What is evident is that it’s been our best ever period of sustained growth and that the EveryMatrix effect is benefiting not just the business, but also crucially our customers, ensuring they continue to break their own records month after month.
“The acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence to create the most powerful affiliate platform proposition available are just two great examples of how we’re continuing to build on our success and grow our customers even more. We have enormous momentum, and I can’t wait to see what happens next.”