EveryMatrix posts record full-year revenue as EBITDA surpasses €100m
Malta-based supplier reveals record performance across all verticals over the course of 2024, as CEO Ebbe Groes insists firm is “showing no signs of slowing down”
EveryMatrix has posted record full-year revenue of €181m (£153m) for 2024, marking a 59% year-on-year (YoY) increase from €114m the year prior.
The supplier’s full-year EBITDA total surpassed the €100m mark for the first time, sitting at €101m, which represented steep YoY growth of 70%.
EveryMatrix, which recorded a seventh successive profit margin of more than 50%, attributed the strong 2024 performance to “large-scale customer launches”, as well as growth in both its sport and casino verticals.
Over the course of 2024, the firm penned its first omnichannel agreement with Arena Casino and generated record results across all product verticals, alongside securing two acquisitions in the form of FSB Technology and Fantasma Games.
As per EveryMatrix’s results release, both FSB and Fantasma’s products and teams have been integrated and are contributing to the supplier’s group revenue and strategy.
In the case of FSB Technology, 14% of additional gross gaming revenue (GGR) can be attributed to the business.
Acquiring Fantasma Games, EveryMatrix meant 45 new titles are now live with more than 250 operator clients, boosting the supplier’s in-house portfolio to over 120 games.
At divisional levels, EveryMatrix’s 2024 sportsbook turnover sat at €5.9bn, representing a climb of 50% YoY, while GGR increased 135% to €448m.
The firm’s casino vertical produced GGR of €2.8bn, rising 49% YoY, as well as 73 billion game rounds being processed within the 12-month reporting period.
By the end of 2024, the Malta-headquartered outfit had 1,300 employees, representing 41% annual growth in staff.
Meanwhile, focusing on its Q4 2024 performance, EveryMatrix produced record net revenue of €55m, a rise of 51% YoY.
EveryMatrix’s Q4 EBITDA came in at €30m, a 49% increase against the corresponding quarter in 2023.
Breaking Q4 revenue down by vertical, GGR for EveryMatrix’s operator partners within the casino segment reached €782m, climbing 33% YoY.
Casino net revenue for the quarter was €27.1m, while €16.7m was generated in EBITDA, marking YoY increases of 52% and 46%, respectively.
EveryMatrix’s SlotMatrix aggregation product introduced a total of 1,145 unique game titles, while 33 new vendors were integrated in Q4.
Analysing the sportsbook division, EveryMatrix produced a 115% YoY improvement in GGR up to €160m. Turnover for the quarter was recorded at €1.9bn.
Throughout the calendar year, the supplier’s OddsMatrix product underwent what bosses described as an “outstanding period of growth”, which included an increase in betting volume of 73% YoY.
The product also oversaw more than two million live events in 2024, a YoY rise of 16%.
GamMatrix, EveryMatrix’s player account management (PAM) system, went live in Peru and Croatia in 2024, as well as overseeing 230 million successful payment transactions.
In 2024, the affiliate division, PartnerMatrix, signed 96 new deals, and generated €1.4m in net revenue for Q4 2024.
Ebbe Groes, EveryMatrix CEO, said: “I’m proud of all our achievements in 2024 but particularly in sports where OddsMatrix has undergone an incredible period of growth, increasing betting volumes by a factor 14 in just five years.
“The system’s ability to handle this mega growth for bet placement, bet settlement and risk management, while simultaneously adding many features, is proof of just how solid its architecture is.
“In this quarter alone we launched a completely rewritten risk management module, infinitely scalable and with many new features.
“The momentum we’ve set in the last few years shows no signs of slowing down.
“Most of all, this is a result of our clients growing with us and my heartfelt thanks go to our customers and our staff. Your loyalty and efforts jointly did this. We will keep pushing to improve all products help our clients’ continued growth,” he added.