EveryMatrix posts record high quarterly net revenue of €42.4m
EveryMatrix’s net revenue was up 57 per cent in year-on-year terms in the second quarter of the year.
Press release.- EveryMatrix has shared its financial results for the second quarter of the year and revealed it set a record high quarterly net revenue of €42.4m across all products, up 57 per cent year-on-year (YoY), while simultaneously setting an all-time high-profit margin of 59 per cent.
According to the company, this is the fifth consecutive quarter where both growth and profit margin have exceeded 50 per cent.
Q2 2024 EBITDA rose to €25.1m from €22.3m in Q1, up 67 per cent YoY.
The bumper quarter was driven by significant customer launches, positive sports trading margins and continued growth in its core business units of casino and sportsbook. It comes just six months after EveryMatrix registered the strongest annual financial results in its history.
Building on a record 12 months
The 1,000-employee-strong business, which significantly bolstered its turnkey sportsbook offering with the acquisition of FSB Technology earlier this month, has experienced accelerated growth for the last six quarters with consistently strong growth across its core products of casino, sports and platform.
The FSB acquisition will further bolster OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues, and cross-company synergies and establishing a presence in the UK, Ireland and Africa where FSB has developed a strong market share.
Q2 2024 gross gaming revenue (GGR) performance for operator partners within the Casino segment generated an eleventh consecutive record quarterly performance of €658m, up 53 per cent YoY with GGR for the last 12 months at €2.3bn, a 69 per cent YoY increase.
Quarterly casino net revenue rose to €21.9m, up 73 per cent YoY while EBITDA reached €14.7m reflecting a 93 per cent YoY increase.
The SlotMatrix aggregation product introduced a total of 1,047 unique game titles and integrated six new vendors bringing the total to 163.
OddsMatrix quarterly sportsbook turnover rose 48 per cent YoY to €1.2bn and €4.6bn for the last 12 months reflecting a 56 per cent YoY increase, while GGR was up 67 per cent YoY to €95m. Net revenue for Q2 2024 reached €11.3m, up 44 per cent YoY, while EBITDA hit €7.2m, reflecting a 65 per cent increase.
OddsMatrix reached a record 176k live events in a single month and a total of 500k during the quarter, up 16 per cent YoY driven by the addition of premium content, table tennis and new esports events. The average monthly number of bets placed reached 36.5m.
The platform saw second-quarter net revenue rise 35 per cent YoY to €7.8m, with EBITDA at €3.4m, up 26 per cent YoY. The EveryMatrix Player Account Management (PAM) system beat the previous quarter with a new record 255 thousand bets per minute at peak times. The total amount of successful payment transactions reached €3.8bn, an 80 per cent YoY increase.
The Affiliate Platform division, including PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue reach €1.4m during the quarter, up 66 per cent YoY. EBITDA decreased -€0.15m due to continued product and commercial investment. The newly merged business unit signed a very strong 26 new customers during the quarter.
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, a full turnkey and specialist sportsbook technology provider with a strong presence in the UK & Ireland and Africa
- PartnerMatrix Intelligence (formerly DeepCI) rebrand to create an all-in-one affiliate management and data tracking powerhouse under PartnerMatrix
- First US casino content aggregation partner – Live with Supremeland Gaming, Inc on DraftKings via SlotMatrix in New Jersey
- Named Casino Software Supplier and Aggregator platform at EGR Awards; SlotMatrix named Aggregator of the Year at CasinoBeats Developer Awards
- Mihnea Dobre promoted to group chief technology officer
- CasinoEngine surpasses 6 billion monthly game rounds mark and €6 billion monthly turnover
- OddsMatrix reached a record 176k live events in a single month
