EveryMatrix Reports Robust Growth with Q2 Earnings

EveryMatrix, the B2B igaming technology provider, has announced its seventh consecutive record-breaking quarter, showcasing a remarkable rise in its profit margin by 55%.

In the Q2 2023 update, EveryMatrix revealed a Net Revenue of €27 million £23.2 million/US$29.3 million) and EBITDA of €15m, indicating a year-on-year (YoY) increase of 82% and 188% respectively. Additionally, there was a quarter-on-quarter (QoQ) growth of 15% and 42% for these metrics. The company’s EBITDA to Net Revenue ratio also jumped from 45% in Q1 2023 to 55% in Q2 2023, marking the company’s highest quarterly profit margin.

Multiple factors have been instrumental in these results, with EveryMatrix’s Casino products being a significant contributor. This segment produced a Gross Gaming Revenue (GGR) of €432m for the quarter, an 86% YoY rise. Additionally, the Casino Net Revenue reached €12.6m for the quarter, showing an 83% increase compared to the same time frame in 2022. CasinoEngine, an integral part of EveryMatrix’s offerings, saw a monthly turnover of €4 billion, hitting over 4bn monthly game rounds for the first time.

The Sports business segment of EveryMatrix registered €57m in GGR, a rise of 137% YoY. The Sports Net Revenue for this quarter experienced a 79% growth compared to 2022. Furthermore, EveryMatrix’s Platform business segment reported an 85% YoY increase in Net Revenue, with peak-time client metrics surpassing 90,000 bets per minute.

On another front, EveryMatrix announced its acquisition of DeepCI on 1st July, a data-driven betting and gaming affiliate optimization service. DeepCI’s technology allows gaming companies, including prominent brands like bet365, 888.com, Betway, and Betsson, to gauge brand visibility and effectiveness on affiliate sites. This enables them to make optimization decisions swiftly. DeepCI, with its significant growth trajectory, has already reached a profitable status. As a result of the acquisition, the DeepCI team has been integrated into EveryMatrix, with CEO Lewis Civin managing this newly incorporated segment.

Ebbe Groes, Group CEO of EveryMatrix, said: “This business, and our team of more than 750 people across 12 countries, continue to amaze me every day generating consistent, record growth and profitability for our customers who continue to benefit from the industry’s best casino, sports, and platform products.

“Our mission this year centres around our relentless drive to deliver the highest quality technology and services for our customers, and a seventh record quarter in a row proves we are firmly on course to achieving our goals.

“Our acquisition of DeepCI shows we are constantly looking to add complementary and innovative technology to our existing offering. Alongside our PartnerMatrix business unit this game-changing technology will create even more value for our clients and I’m excited with what more we can achieve in the quarters to come.”