EveryMatrix has soared to new heights in the first quarter of 2024, surpassing previous records and solidifying its position as a powerhouse in the iGaming technology sector. The company’s impressive financial performance, coupled with groundbreaking achievements and strategic expansions, underscores its commitment to innovation and excellence.
Starting the year strong:
As the fiscal year commenced, EveryMatrix embarked on a trajectory of success driven by a series of strategic initiatives and key milestones. The company’s robust performance was fueled by substantial client acquisitions, multiple launches across core business units, and a relentless focus on innovation and growth.
Notably, EveryMatrix emerged as one of the first wave of iGaming technology providers to secure regulatory accreditation in Peru, marking a significant achievement in its global expansion efforts. Moreover, the company made significant strides in the competitive US market, with the launch of its first casino aggregation partner live on DraftKings in New Jersey.
In addition to its regulatory accomplishments, EveryMatrix celebrated a significant post-period milestone, reaching a workforce of over 1,000 employees across 13 global locations. The opening of a new purpose-built office in Bucharest, Romania, and the establishment of a dedicated office in Cebu, Philippines, underscore the company’s commitment to fostering talent and expanding its operational footprint.
Casino and sports thrive:
EveryMatrix’s performance in the casino and sports segments surpassed expectations, with both sectors witnessing remarkable growth and profitability. In Q1 2024, the company achieved a record quarterly Gross Gaming Revenue (GGR) of €619 million in the casino segment, representing a substantial year-on-year increase of 65%. Similarly, the OddsMatrix sports division experienced a surge in turnover, with a notable 31% year-on-year rise, accompanied by an impressive 308% increase in GGR.
The quarterly net revenue for the casino segment reached €19.9 million, reflecting an 83% year-on-year increase, while EBITDA soared to €13.2 million, marking a remarkable 132% year-on-year growth. Meanwhile, the OddsMatrix sports division reported a quarterly net revenue of €10.5 million, representing a significant 78% year-on-year increase, with EBITDA reaching €6.2 million, reflecting a staggering 313% increase.
EveryMatrix’s platform segment continued to demonstrate resilience and growth, with quarterly net revenue reaching €7.3 million, up 28% year-on-year. The company’s proprietary Player Account Management (PAM) system achieved a new milestone, processing a record-breaking 230,000 bets per minute during peak times, underscoring the scalability and efficiency of EveryMatrix’s technology solutions.
The Affiliate Platform division, comprising PartnerMatrix and DeepCI, experienced robust growth during the quarter, with net revenue reaching €1.4 million, up 39% year-on-year. Despite increased investment in product and commercial ventures, the division remains poised for future success, with DeepCI expanding its geographic reach and signing 14 new clients, while PartnerMatrix secured 15 new partnerships.
Optimism for the future:
Ebbe Groes, Group CEO of EveryMatrix, expressed immense pride in the company’s achievements, highlighting the sustained growth and expansion across all business segments. He said in a press release: “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. Watch this space as there is plenty more to come from EveryMatrix this year!”