EveryMatrix posts record-high revenue growth and EBITDA amid historic Q1 performance
Supplier sees revenue and EBITDA rise by record amounts after an impressive showing across multiple verticals
EveryMatrix has posted record-high net revenue of €39m following a strong Q1 2024 in which the supplier saw its top-line jump 66% year on year (YoY).
EBITDA for Q1 also rose to €22.3m, an all-time high for the firm, marking a 111% YoY increase.
EBITDA margin landed at 57%; the fourth successive quarter where the metric finished above 50% for EveryMatrix.
The group’s Q1 results come on the back of multiple new client launches across the company’s core business units as well as continued growth in EveryMatrix’s casino vertical.
Within the casino vertical, the supplier’s operator partners generated a record GGR quarterly performance of €619m.
Casino net revenue for the first quarter of the year also rose to €19.9m, representing an 83% YoY increase. Meanwhile, EBITDA for the vertical reached €13.2m, up 132% from Q1 2023.
The figures recorded from the firm’s casino vertical are largely attributable to the integration of seven new vendors since the start of Q1, bringing the supplier’s overall total to 158.
Additionally, the company’s own live casino game studio, PlayMatrix, is now live with 14 brands, with seven of its own games released.
The supplier’s OddsMatrix sports division recorded €1.3bn in gross revenue, while GGR soared 308% YoY to €96m.
EBITDA saw a similar rise, reaching €6.2m, which was in turn a 313% YoY increase for the firm.
Management confirmed OddsMatrix covered a record 173,000 live events in a single month, while the number of bets placed over the course of Q1 reached 812,000, up 81% YoY.
Platform, the EveryMatrix player account management system, saw a record 230,000 bets placed per minute at peak times, which generated a 28% YoY rise in net revenue at €7.3m and EBITDA up 13% YoY at €3.2m.
EveryMatrix’s affiliate platform division saw net revenue reach €1.4m, though EBITDA decreased 179% YoY to €0.4m.
The supplier put this decline down to continued product and commercial investment, as PartnerMatrix signed 15 new clients.
One of the company’s standout highlights of the first quarter of 2024 came in the form of a signed turnkey deal worth more than €3m per year.
EveryMatrix CEO Ebbe Groes waxed lyrical over the firm’s performance as he cited Q1 2024 as the most impressive three-month period in the company’s history.
He said: “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet.
“It’s mind blowing how far we’ve come and how much progress continues to be made across the entire business.
“From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond.”