EveryMatrix’s Q2 Report Highlights Record Quarterly Profit Margin

Leading iGaming tech supplier EveryMatrix has posted its Q2 results, reporting its highest-ever quarterly profit margin. The tier-1 provider announced that its revenue for the period stood at EUR 42.4 million ($46 million) across all products, marking and increase of 57% year-on-year. In addition, the company set an all-time-high profit margin of 59%.

According to EveryMatrix, Q2 2024 marked its fifth consecutive quarter where both growth and profit margin have exceeded 50%. In the meantime, the company’s EBITDA rose to EUR 25.1 million ($27.2 million), up 67% year-on-year.

EveryMatrix added that the favorable results were driven by significant customer launches, positive sports trading margins and continued growth of its core business units. In the wake of 2023’s record-breaking results, EveryMatrix remains poised to drive further growth.

EveryMatrix Reported Many Significant Achievements

Additional Q2 2022 highlights included the noteworthy acquisition of FSB Technology, which was EveryMatrix’s biggest M&A deal ever. The deal is expected to bolster its OddsMatrix sportsbook platform and odds feeds division, generate immediate additional revenues and expand its presence in the UK, Ireland and Africa.

Speaking of OddsMatrix, the division’s quarterly turnover stood at EUR 1.2 billion ($1.3 billion), up 48% year-on-year. GGR, meanwhile, was up 67% to EUR 95 million ($103 million). Net revenue reached EUR 11.3 million ($12.3 million), up 44% YOY, while EBITDA increased by 65% to EUR 7.2 million ($7.8 million).

OddsMatrix, for context, reached a record 176,000 live events in a single month and a total of 500,000 during the quarter, up 16% year-on-year.

The company’s Platform division, meanwhile, experienced net revenue growth of 35% year-on-year to EUR 7.8 million ($8.5 million) with EBITDA at EUR 3.4 million ($3.7 million). EveryMatrix’s PAM system recorded 255K bets per minute at peak times, marking a new record.

PartnerMatrix and the recently rebranded PartnerMatrix Intelligence, meanwhile, saw net revenue reach EUR 1.4 million ($1.5 million) during the quarter. These divisions, however, recorded a slight EBITDA decrease.

In Q2, EveryMatrix formed its first aggregation partnership in the US and was named Casino Software Supplier and Aggregator Platform at EGR Awards, and Aggregator of the Year at CasinoBeats Developer Awards.

CEO Groes Cannot Wait to See What Happens Next

CEO Ebbe Groes commented on EveryMatrix’s success, saying that “it’s difficult to know what to say” when the company 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.

Ebbe Groes, CEO, EveryMatrix

Groes praised EveryMatrix’s Q2 achievements, expressing optimism about the recent acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence. He concluded that EveryMatrix has an enormous momentum and noted that he cannot wait to see what happens next.