EveryMatrix to continue investing in future growth after ‘strong’ Q2

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EveryMatrix is looking to maintain a steady level of investment to ensure consistent growth moving forward after the B2B igaming tech provider witnessed expansion across all business segments during a “strong” second quarter.

Gross profit through casino, sports and platform increased 17 per cent during the three month time frame to €14.9m (2021: €12.7m) with a four year CAGR of 35 per cent.

However, despite negative German impacts across igaming, gross profit recorded an 11 per cent year-on-year uptick that the group puts down to “product diversification and broad client base”.

EBITDA remained consistent at €5.2m as EveryMatrix continues to reinvest positive cash flow into future growth, with key Q2 investments coming via US expansion, purchase of Leapbit and recruitment drive in the Balkans.

“Driven by our diverse product offering and strong client base, we saw yet another record number of new client wins in the quarter with 43 deals signed across all products,” said Ebbe Groes, Group CEO of EveryMatrix.

“Furthermore, a 17 per cent increase in gross profit, the best reflection of the underlying performance of the group, allows us to continue to invest in our future growth.”

Furthermore, the group has also heaped praise on May’s acquisition of sports betting developer Leapbit, which was undertaken to strengthen the OddsMatrix offering. 

“OddsMatrix is one of the company’s three pillars and is growing at a tremendous rate already,” Groes noted.

“Retail is a big component of any comprehensive sports betting suite, and by integrating Leapbit’s technology, we will take OddsMatrix to become a leader of true omnichannel sports in regulated markets.”

Elsewhere, among the 43 deals signed during April to June, EveryMatrix has cited two “key clients” across the German and Romanian markets as being crucial.

The former of these saw operator bet-at-home team-up with the company for the provision of its turnkey solution, with the Frankfurt-listed firm tol replace its existing proprietary platform with EveryMatrix’s tech stack.

“This landmark agreement reflects the breadth and depth of our products, but especially the quality of our sports platform, OddsMatrix,” Groes ended.

“The constant investment and development in OddsMatrix have been at the core of what we do for many years, and I’m happy to see more tier one operators joining our client list.”