EveryMatrix continues winning streak, sets new casino record in Q3

EveryMatrix, a technology supplier in the iGaming industry, has announced a record net revenue for its latest trading period. The company reported a 79% year-on-year increase in revenue to €60m ($64.2m/£52.1m) for the three months ending on September 30. This resulted in a record net revenue of €27.2m, marking a 62% increase and a three-year compound annual growth rate (CAGR) of 47%.

The strong performance was seen across all business segments, with the casino vertical reaching a record quarter with operator clients generating €463m in gross gaming revenue (GGR), reflecting a 77% increase. The sports turnover also surged by 85% to €810m, with GGR increasing by 26%.

Organic net revenue growth for EveryMatrix has been above 50% for the third consecutive quarter. The casino segment achieved a successive quarterly record with net revenue of €13.3m, representing a 74% increase. EveryMatrix added 890 games from casino vendors and integrated over 250 games from four new casino vendors.

In the sports vertical, net revenue reached €6.3m, showing a 29% increase. However, there was a 19% decrease compared to the previous quarter. The growth in revenue was driven by a 65% increase in the number of bets placed and a 43% surge in the average monthly count of live events.

Additionally, the company’s platform net revenue reached €6.3m, constituting an 87% increase. EveryMatrix’s affiliate segment also reported an increase in net revenue to €1.2m, up 48%, largely driven by the addition of DeepCI in July 2023.

Despite adverse exchange rate effects, EveryMatrix’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 113% year-on-year to €13.7m. The company’s CEO, Ebbe Groes, expressed pride in the business’s accomplishment of major milestones and the launch of significant tier-1 projects.

Groes also emphasized the company’s commitment to safer gambling and player protection. EveryMatrix became the first supplier to achieve WLA Safer Gambling Certification, committing to consistently implementing high standards of safer gambling and player protection across the entire business.

Looking towards the future, Groes highlighted the company’s expansion into new markets, including Germany and the US. EveryMatrix went live with Germany’s Bet-at-home and signed a multistate content aggregation agreement in the US regulated market with operator BetPARX.

Overall, EveryMatrix’s strong performance and growth across its various business segments position the company for continued success and expansion in the iGaming industry.