EveryMatrix Reports Robust Q3 Financial Growth
EveryMatrix, an igaming technology supplier, has disclosed its financial results for the third quarter of 2023. The company recorded an increase in its net revenue to €27.2 million (£23.6 million/US$29.1 million) and its EBITDA to €14 million. These figures represent a growth of 62% and 113% respectively when compared to the same period last year. Additionally, this quarter marks the third instance of the company reporting a net revenue growth of over 50%.
In the reported quarter, EveryMatrix received a safer gambling certification from the World Lottery Association, highlighting its focus on responsible gaming practices. Following the quarter, the company successfully launched several projects and entered into a new market in the United States.
The performance of EveryMatrix’s casino segment showed a notable increase in gross gaming revenue to €463 million, which is 77% higher than the previous year. Net revenue from casino operations also rose to €13.3 million, indicating a 74% year-on-year increase. The sports betting segment generated €35 million in gross gaming revenue, a 26% rise from the previous year, with net revenue reaching €6.3 million, up by 29%.
The platform services of EveryMatrix, including the management of player accounts and payment systems, saw net revenue increase by 87% year-on-year to €6.3 million. The company’s affiliate platform, which supports marketing and promotional activities for its clients, reported a 48% increase in net revenue, achieving €1.2 million.
In terms of its workforce, EveryMatrix’s employee count has risen to 850 across multiple countries. Significant projects after the reported quarter include the commencement of operations with the Hungarian National Lottery and a content agreement in the U.S. with betPARX, aimed at expanding EveryMatrix’s game offerings in the American market.
Ebbe Groes, Group CEO of EveryMatrix, said: “Everyone’s hard work has paid off this quarter with yet another very strong period of organic growth and profitability that has seen us accomplish some major milestones and launch significant tier-1 projects.
“bet-at-home.de and SZRT have arguably been the most complex technical and regulatory undertakings we have ever achieved in the 15 years since we began, but we have delivered extensive turnkey projects with flying colours and the involvement of almost every EveryMatrix business unit. More importantly, both clients have recognised the demanding nature of this migration and integration and have been glowing with praise for our work. This fills me with pride and confidence for our future growth.
“Positive and social impact, however, is also proven to drive a sustainable and profitable business so I was particularly proud in September when the business became the first supplier to achieve WLA Safer Gambling Certification. This sees us commit to consistently implementing high standards of safer gambling and player protection across the entire business in everything we do, and I look forward to building on this as we head towards 2024.”
