EveryMatrix Enjoys Stellar 2023 Start with Strong Q1 Results

The provider of iGaming software, content, solutions and services for sports betting and online gambling operators, EveryMatrix, released its latest trading update, revealing data regarding its performance for the first quarter of 2023. The new figures show that between January 1 and March 31, 2023, the company has seen a strong financial performance that marked quarter-over-quarter and year-over-year increases in multiple operating segments.

EveryMatrix revealed that for the first quarter of this year, its net revenue hit a record €23.5 million ($26 million). This result, when compared to the corresponding period in 2022, marked an increase of 69%. Additionally, when compared to the previous quarter, the recent net revenue result represented a strong 21% growth.

Additional data released by EveryMatrix reveals that EBITDA in Q1 2023 increased as well. When compared to last year’s result of €4.8 million ($5.3 million), EBITDA for the first quarter this year hit €10.5 million ($11.6 million), representing a staggering 119% increase. According to EveryMatrix, “EBITDA/Net Revenue margin rose to 45% driven by strong growth and successful cost control.”

Strong Financial Growth, Backed by Multiple Achievements

Ebbe Groes, EveryMatrix’s group CEO, was excited about the recent trading update. He pointed out that the company continues to enjoy record performance, and this represents the efforts of its dedicated team.

“I’m very proud of all our business units and their teams who are relentlessly driving quarter-on-quarter growth for the business and for our partners across all areas,” said Groes. The CEO revealed that EveryMatrix plans to continue to deliver its leading services to a growing list of partners around the globe. Groes hinted that the company plans multiple large-scale projects.

“I’m more excited than ever for the future growth of EveryMatrix, with new omnichannel agreements being signed, and new, innovative gamification features set to create even more value for our operator partners.“

Ebbe Groes, group CEO at EveryMatrix

Besides the financial achievements, the company highlighted multiple milestones it accomplished in Q1 this year. During the first quarter, EveryMatrix inked an important agreement in Croatia, joining forces with a tier-1 operator and penned 14 new affiliate platform deals. Moreover, in the first quarter, the company launched bet-at-home.com and confirmed it anticipates the launch of launch bet-at-home.de at some point in Q2 this year.

Overall, EveryMatrix enjoyed strong growth in North America during the first quarter of this year. It secured its fifth North American license from Connecticut. This expanded the company’s footprint in the region after it received licenses in Ontario, Canada, as well as New Jersey, Michigan and West Virginia.