EveryMatrix posts record-high net revenue as CEO hails “best ever period” 

EveryMatrix has announced a record-high quarterly net revenue total of €42.4m (£35.6m) for Q2, representing a 57% year-on-year (YoY) increase, alongside an all-time high profit margin of 59%.

The supplier’s top line revenue came in at €82m, up 45% from the corresponding quarter in 2023. For the fifth successive quarter, EveryMatrix has boasted both a profit and growth margin north of 50%.

The privately owned company reported similar success on the EBITDA front, with Q2’s total rising 67% YoY to €25.1m. Meanwhile, EBITDA margin hit an all-time high of 59%, rising four percentage points from Q2 2023.

Notable increases in net revenue and EBITDA have been attributed to significant customer launches and positive sports trading margins, alongside continued growth in core business units of casino and sportsbook among existing clients.

Breaking the results down by vertical, it was a record quarter for operator partners within the casino segment as gross gaming revenue (GGR) rose 53% YoY to a total of €658m, €226m more than the €432m reported in Q2 2023.

Over the course of Q2 2024, the firm’s SlotMatrix aggregation product introduced a total of 1,047 unique game titles, as well as nine new casino vendors, which brings the overall tally to more than 160.

OddsMatrix’s quarterly sports GGR surged 67% YoY to €95m, while turnover reached €1.2bn, marking a YoY rise of 48%. In recent months, the company’s sportsbook platform has launched online sports betting for bet-at-home as well as the Hungarian Lottery.

The EveryMatrix sportsbook platform also reported a record number of live events in a single month at 176,000, while the average number of bets placed per month increased 166% YoY to 36.5 million.

Bosses said both verticals have been aided by consistent product innovation and an improved trading margin, the latter particularly so within the last three quarters.

Platform, the EveryMatrix player account management system, saw a record 255,000 bets placed per minute at peak times, which generated a 35% YoY rise in net revenue to €7.8m and an EBITDA increase of 26% YoY at €3.4m. 

The company’s affiliate platform division, PartnerMatrix, which includes the recently rebranded PartnerMatrix Intelligence (formerly DeepCI), reported net revenue growth of 66% YoY, generating €1.4m in the most recent quarter.

However, there was a slight drop in EBITDA within the company’s affiliate arm, decreasing to €150,000, a drop that has been attributed to “continued product and commercial investment”.

Since the rebrand and merging of the businesses so that PartnerMatrix Intelligence falls under the PartnerMatrix platform, the segment secured 26 new clients throughout Q2.

Also, within the second quarter, EveryMatrix announced the acquisition of sports betting technology supplier FSB Technology in an all-cash deal that is expected to bolster OddsMatrix and provide an immediate revenue boost.

The deal, which EveryMatrix CEO Ebbe Groes dubbed the supplier’s “most ambitious to date”, will strengthen efforts to expand EveryMatrix’s presence in the UK, Ireland and Africa, three regions where FSB has a solid foothold.

On the Q2 earnings announcement, Groes said: “It’s difficult to know what to say when our results just keep getting better and better.

“What is evident is that it’s been our best ever period of sustained growth and that the EveryMatrix effect is benefiting not just the business but also crucially our customers, ensuring they continue to break their own records month after month.”  

Groes went on to talk up the recent purchase of FSB Technology: “The acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence to create the most powerful affiliate platform proposition available are just two great examples of how we’re continuing to build on our success and grow our customers even more. 

“We have enormous momentum, and I can’t wait to see what happens next,” he added.