EveryMatrix Q3 2023 Results Reaffirm Growth Trajectory

The fast-growing supplier of iGaming solutions, software, services and content, powering sports betting and casino operators, EveryMatrix, released its latest trading update, uncovering details regarding its performance for the third quarter of 2023. The report, released Tuesday, shares insights regarding the company’s performance between July and September, pointing to record growth.

Overall, EveryMatrix reported net revenue of €27.2 million ($29 million) for the third quarter this year. A comparison to the corresponding period in 2022 shows that this year, an increase of 62% was observed. Additionally, the company revealed that its EBITDA for Q3 this year soared to €14 million ($14.9 million), a result that represents a staggering 113% increase year-over-year. EveryMatrix explained that Q3 this year marks the third time its net revenue growth has surpassed 50%. Further details reveal that EveryMatrix’s Q3 2023 revenue hit €60 million ($64 million). This result, compared to the same period in 2022, marked an increase of 79%.

In Q3 this year, the company reported casino gross gaming revenue of €463 million ($493.9 million), up by 77% year-over-year. This outstanding result came despite a “headwind from exchange rate effects,” explained EveryMatrix. On the other hand, its sports turnover skyrocketed to €810 million ($864 million), up by 85% year-over-year, while GGR for the sports segment increased by a solid 26%, despite similar exchange rate challenges.

The latest outstanding results for the third quarter reaffirmed EveryMatrix’s status as the fastest-growing iGaming content, technology and solutions provider that enjoys another consecutive quarter with profit margins above 50%.

Earlier this month, Szerencsejáték Privately Held Company Limited (SZRT), the company in charge of the national lottery in Hungary, forged a collaboration with EveryMatrix. After a competitive tender, the company was selected to power the lottery’s TippmixPro brand with betting services and solutions.

The Company Achieved Multiple Milestones in Q3

Ebbe Groes, EveryMatrix’s group CEO, was thrilled about the latest results. He explained that the outstanding performance in Q3 represents the hard work of the company’s experts. Additionally, Groes praised the important milestones achieved during the recent trading period.

“Everyone’s hard work has paid off this quarter with yet another very strong period of organic growth and profitability that has seen us accomplish some major milestones and launch significant tier-1 projects.“

Ebbe Groes, group CEO of EveryMatrix

The group CEO spoke about the company’s certification by the World Lottery Association (WLA). Back in September, EveryMatrix was recognized with WLA Safer Gambling Certification, becoming the first iGaming supplier to hold the prestigious recognition. Finally, Groes said that the company is positioned well for further growth and expansion throughout the rest of the year and beyond.