EveryMatrix has stated that it achieved another quarterly net revenue record in the third quarter of 2024, increasing by more than 60% compared to the same period last year.
The group also highlighted two acquisitions in the past five months that have bolstered its business moving forward: FSB Technology in June and Fantasma Games in October.
CEO Ebbe Groes noted the past few months have been some of the busiest for the company since it was founded and that the recent deals should bring “even more growth and profitability”.
Publishing its Q3 results, EveryMatrix reported a quarterly high in net revenue of €45m, up 66% year-over-year. EBITDA stood at €23m, a 71% increase YoY with a margin of 52%.
The group noted that its sixth consecutive 50%-plus quarterly profit margin was supported by “new customer launches, continued growth in its core sports and casino business units and further bolstered by strong sports trading margins”.
Acquisition impact
EveryMatrix expects its growth trajectory to continue following the acquisitions of FSB and Fantasma Games.
Fantasma Games was added last month, but the group expects the integration of its team to bring “strong commercial, technical and creative skills” to the business, as well as titles that are already live with over 250 operators in more than 50 countries globally and its market distribution to boost its presence in growing markets such as North America.
As for FSB, EveryMatrix noted that the deal has added approximately 15% additional gross gaming revenue (GGR) to its sportsbook business volumes with customer migration on schedule, which includes BetGoodwin agreeing to expand the use of EveryMatrix’s turnkey sports and casino technology.
The group also said that FSB has “strengthened key areas of the business, including the OddsMatrix sportsbook, by doubling the trading and quants team” enhancing personalisation within managed odds and risk services.
Groes commented: “The last few months have been some of the busiest since we founded the company 16 years ago; continuing to drive record GGR for our customers, launching more tier-one operators and making two significant acquisitions that have instantly added value to the wider group and that will future-proof both our sports and games divisions.
“As a result of these deals, we expect to see even more growth and profitability as we migrate more FSB customers to our technologies and our Games division accelerates production and distribution to become a significant global studio.
“We are the clear frontrunner when it comes to being the fastest growing igaming supplier.”
Casino continues quarterly record performance
Per business unit, Casino GGR for operator partners rose by 53% YoY to produce a 12th consecutive record quarterly performance of €709m. GGR for the last 12 months was €2.6bn, up 63% YoY.
Quarterly casino net revenue rose by 78% compared to the same period last year to €23.8m, with EBITDA increasing by 95% YoY to €14.9m. A total of 970 unique game titles were introduced by its SlotMatrix aggregation product, which was integrated with 10 new vendors to bring its total to more than 170.
OddsMatrix quarterly sportsbook turnover rose by 87% YoY to €1.5bn in Q3, net revenue was up by 85% to €11.7m, while EBITDA increased by 117% to €6m. In the past year, the segment’s turnover was up by 60% to €5.3bn, while GGR grew by 158% to €361.9m.
In terms of live events, 530,000 were covered by OddsMatrix during the quarter, a record number and up 14% YoY. The total number of bets placed also increased by 225% YoY to 132 million.
For its Platform segment, net revenue increased by 30% YoY to €8.1m, with EBITDA at €2.8m. Gamtrix processed 400,000 bets per minute during peak hours, up 18% quarter-over-quarter (QoQ), in addition to going live in Peru. The number of successful payment transactions increased by 91% to €4.4bn.
As for its Affiliate division, EveryMatrix stated it launched a new website combining affiliate software and affiliate intelligence products, with the business unit’s active clients increasing by 11% QoQ to 82, while net revenue rose by 13% YoY to €1.4m, but “EBITDA decreased -€0.25m due to continued product and commercial investment”.
