EveryMatrix continues to solidify its position as the fastest-growing iGaming technology supplier, achieving its highest-ever quarterly profit margin. The Q2 2024 results have revealed unprecedented financial success, highlighting the company’s robust growth trajectory and industry dominance.
Q2 2024 Financial Performance
In Q2 2024, EveryMatrix set a new record with a quarterly net revenue of €42.4 million, marking a 57% Year-on-Year (YoY) increase. This achievement underscores the company’s consistent growth, with both revenue and profit margins surpassing 50% for the fifth consecutive quarter. The quarter also saw a remarkable EBITDA increase to €25.1 million from €22.3 million in Q1, up 67% YoY.
Key Drivers of Growth
The exceptional performance in Q2 was driven by several factors:
- Significant Customer Launches: New partnerships and client acquisitions have played a crucial role.
- Positive Sports Trading Margins: Enhanced trading strategies have yielded favorable results.
- Core Business Growth: Continued expansion in casino and sportsbook sectors.
These factors contributed to EveryMatrix’s strongest annual financial results in its history, achieved just six months prior.
Strategic Acquisitions and Expansions
EveryMatrix, now a 1,000-employee strong enterprise, has strategically bolstered its turnkey sportsbook offering by acquiring FSB Technology. This acquisition enhances OddsMatrix, EveryMatrix’s premier sportsbook platform, and strengthens its market presence in the UK, Ireland, and Africa. The acquisition is expected to generate immediate additional revenues and synergies across the company.
Casino and Sportsbook Performance
The Casino segment delivered an eleventh consecutive record quarterly performance with a Gross Gaming Revenue (GGR) of €658 million, up 53% YoY. Over the last 12 months, GGR reached €2.3 billion, marking a 69% YoY increase. Quarterly casino net revenue rose to €21.9 million, a 73% YoY increase, while EBITDA surged by 93% YoY to €14.7 million. The SlotMatrix aggregation product introduced 1,047 unique game titles and integrated six new vendors, expanding the total to 163.
The OddsMatrix sportsbook reported a 48% YoY increase in quarterly turnover, reaching €1.2 billion. The last 12 months saw a 56% YoY increase, with a turnover of €4.6 billion. GGR for the sportsbook rose 67% YoY to €95 million. Quarterly net revenue for OddsMatrix hit €11.3 million, a 44% YoY increase, while EBITDA reached €7.2 million, up 65% YoY. The platform hosted a record 176,000 live events in a single month and a total of 500,000 during the quarter, driven by the addition of premium content, table tennis, and new esports events.
Platform and Affiliate Success
The platform division saw a 35% YoY rise in net revenue to €7.8 million, with an EBITDA of €3.4 million, up 26% YoY. The Player Account Management (PAM) system set a new record with 255,000 bets per minute at peak times, and the total amount of successful payment transactions reached €3.8 billion, an 80% YoY increase.
The Affiliate Platform division, including PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue of €1.4 million in the quarter, a 66% YoY increase. Despite a decrease in EBITDA to -€0.15 million due to continued investment, the unit signed 26 new customers, showcasing strong commercial growth.
Leadership and Vision
Ebbe Groes, Group CEO of EveryMatrix, 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.
“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.”
Q2 2024 Highlights
- Acquisition of FSB Technology, enhancing sportsbook capabilities and market reach.
- Rebranding of PartnerMatrix Intelligence to strengthen affiliate management.
- First US casino content aggregation partnership with Supremeland Gaming, Inc on DraftKings via SlotMatrix in New Jersey.
- Multiple industry awards, including Casino Software Supplier and Aggregator platform at EGR Awards.
- Record-breaking performance in live events and monthly game rounds.
