- Legal States
Fiona Simmons November 10, 2022 2 min read
EveryMatrix’s Q3 Results Beat All Company Expectations
EveryMatrix’s third-quarter results are in, and the company has posted solid performance across the board. Gross profit across all of the company’s business verticals, including platform, sports, and casino, grew and in fact outperformed original forecasts.
Growth Registered Across All Verticals
The company also reported strong sales during the quarter and noted that it achieved two operator launches during the surveyed period with a strong cash balance as of right now. Gross profit increased by 33% year-over-year during the quarter to €16.8 million ($16.7 million).
This is not least because of the company’s successful launch in Germany and the trickle-down effect efforts in previous quarters, and the company’s robust business model. EBITDA increased to €6.4 million ($6.37 million) during the period.
The casino vertical was particularly strong in the quarter. EveryMatrix reported solid results following the winning of the Veikkaus public tender which promoted the company as the official “Online Casino Games as a Service” entity for the Finnish state-owned entity. Commenting on this success at the time, EveryMatrix Group CEO Ebbe Groes said:
I am pleased to see a fantastic third quarter, with global sales performance and very good financial results. Even more important, we won two new Tier-1 clients in the quarter, Veikkaus in Finland and bet-at-home in Germany and international markets.EveryMatrix Group CEO Ebbe Groes
Breaking Ground with Innovative Projects and in New Markets
Groes also noted the successful company launches with BetMGM in the United States and with Morocco’s state-owned lottery. BetMGM is also the Group’s first US client which teamed up with the company for its SlotMatrix solution. Some of the more noteworthy achievements over the period included gross gaming revenue of €100 million ($99.48 million) in September from clients on all products.
As of the end of the third quarter, EveryMatrix was officially live with 18 regulated markets on its own RGS. The company also launched its first crypto casino project and signed 14 new casino deals and notched 22 new client launches. The company similarly reported 11 new sports client wins and 18 new affiliate platform deals. Of equal import, EveryMatrix secured its Ontario entry, marking a busy and very successful third quarter indeed.