EveryMatrix is looking to maintain its momentum through the remainder of the year and beyond after recording consecutive quarterly profit margin figures above 50 per cent.

This was driven by the achievement of “multiple milestones” through the quarter and post reporting period, with alliances alongside bet-at-home, the Hungarian national lottery and BetParx each singled out. 

Driven by a record quarter for casino, and significant gains across the sports segment, EveryMatrix reported revenue of €60m, up 79 per cent year-on-year.

Net revenue closed at €27.2m, an increase of 62 per cent from 2022’s €16.8m that represents a third successive quarter that this percentage has surpassed 50, as EBITDA climbed 113 per cent year-on-year to €13.7m (2022: €6.4m). This latter figure does represent a quarterly drop from €15m.

Casino and sports continue to soar 

Casino continues to be the pace setter for the company after setting a successive quarterly record courtesy of an increase to €13.3m, this is a 77 per cent YoY increase from the previous year’s €7.7m to remain the dominant force. 

This figure is also up six per cent quarter-on-quarter from €12.6m, while EBITDA contributed €7.6m. Based on turnover, Armadillo Studios is stated to have achieved its best release yet with Tiki Times Exotic Wilds.

On the sports front, net revenue increased 29 per cent year-on-year to €6.3m (2022: €4.9m), but declined from the figure of €7.8m recorded one quarter earlier.

An EBITDA contribution of €2.7m was also recorded, with the number of bets placed 65 per cent ahead YoY.

Affiliate represents increased importance

Due to what is reported as “increased importance”, EveryMatrix has split its affiliate segment away from that of its platform division, which will be maintained from quarter to quarter.

Driven by July’s acquisition of DeepCI, and also including PartnerMatrix, net revenue for the newly split segment closed at €1.2m, up from €800,000 and €900,000 in Q3 2022 and Q2 2023, respectively.

The platform division, which saw significant effort placed into compliance requirements for Germany and Hungary, saw revenue surge 87 per cent to €6.3m (2022: €3.3m). This is also up eight per cent QoQ from €5.8m.

Executive comments

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-one projects. 

“bet-at-home 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.”