EveryMatrix Achieves Record Revenue and Profit Margin in Q2 2024

EveryMatrix has cemented its status as a top-tier iGaming technology supplier by achieving its highest-ever quarterly profit margin in Q2 2024. The company reported a record-breaking quarterly net revenue of €42.4 million, a significant 57% increase compared to the same period last year. The profit margin also reached an all-time high of 59%, marking the fifth consecutive quarter of growth and profit margin exceeding 50%.

Financial Performance Highlights

In Q2 2024, EveryMatrix’s EBITDA rose to €25.1 million from €22.3 million in Q1, showcasing a 67% year-on-year growth. This impressive financial performance was driven by several factors, including successful customer launches, favorable sports trading margins, and continuous expansion in its core business areas of casino and sportsbook. This achievement comes just six months after EveryMatrix recorded its strongest annual financial results to date.

EveryMatrix has been on an accelerated growth trajectory for the past six quarters. The company, which employs around 1,000 people, recently strengthened its sportsbook offering through the acquisition of FSB Technology. This strategic move is expected to enhance OddsMatrix, EveryMatrix’s premier sportsbook platform and odds feeds division, by generating immediate additional revenues, creating synergies across the company, and establishing a stronger presence in key markets such as the UK, Ireland, and Africa.

The casino segment has been a major contributor to EveryMatrix’s success. In Q2 2024, the Gross Gaming Revenue (GGR) for operator partners within the casino segment reached an eleventh consecutive record quarterly performance of €658 million, up 53% year-on-year. Over the past 12 months, the GGR has reached €2.3 billion, representing a 69% year-on-year increase. Quarterly net revenue for the casino segment rose to €21.9 million, a 73% increase from the previous year, while EBITDA reached €14.7 million, reflecting a 93% year-on-year growth. The SlotMatrix aggregation product introduced 1,047 unique game titles and integrated six new vendors, bringing the total number of vendors to 163.

Sportsbook Expansion and Success

The OddsMatrix sportsbook division has also experienced significant growth. Quarterly sportsbook turnover increased by 48% year-on-year to €1.2 billion, with a total turnover of €4.6 billion for the past 12 months, reflecting a 56% year-on-year increase. The Gross Gaming Revenue for the sportsbook segment rose by 67% year-on-year to €95 million. In Q2 2024, net revenue for OddsMatrix reached €11.3 million, a 44% increase from the previous year, while EBITDA grew by 65% to €7.2 million. OddsMatrix set a new record with 176,000 live events in a single month and a total of 500,000 live events during the quarter, a 16% year-on-year increase. This growth was driven by the addition of content, table tennis, and new esports events. The average monthly number of bets placed reached 36.5 million.

EveryMatrix’s platform division also reported robust growth, with second-quarter net revenue rising by 35% year-on-year to €7.8 million. EBITDA for this division increased by 26% year-on-year to €3.4 million. The EveryMatrix Player Management (PAM) system set a new record with 255,000 bets per minute at peak times, suring the previous quarter. The total number of successful payment transactions reached €3.8 billion, marking an 80% year-on-year increase.

The platform division, which includes PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue grow to €1.4 million during the quarter, a 66% year-on-year increase. Although the EBITDA for this division decreased to -€0.15 million due to ongoing product and commercial investment, the division successfully signed 26 new customers during the quarter, indicating strong future potential.

Source:

”EveryMatrix continues strong revenue growth recording all-time high profit margin”, realmoneyaction.betsandodds.net, July 23, 2024.