EveryMatrix achieved record net sales in its most recent trading period, with huge gains in both its casino and sports divisions.
EveryMatrix reported a 79% year-on-year increase in revenue to €60m ($64.2m/£52.1m) in the three months to September 30. Net sales reached a record 27.2 million euros, an increase of 62% and a three-year CAGR of 47%.
The technology provider’s success was based on strong growth in all business areas. It was another record quarter for casinos, with operator customers generating gross gaming revenue (GGR) of €463 million, an increase of 77%. Sports sales increased by 85% to 810 million euros and GGR rose by 26%. This despite headwinds from exchange rate effects, sports results and increased quota advertising from its major customers.
This is the third consecutive quarter of organic net sales growth of over 50%.
EveryMatrix is experiencing strong growth across all industries
With net sales of 13.3 million euros, Casino set a quarterly record, an increase of 74% or 6% on a quarterly basis. EveryMatrix introduced 890 games from casino providers, in addition to more than 250 integrated games from four new casino providers.
In the sports sector, net income reached 6.3 million euros, an increase of 29%, but a decrease of 19% compared to the second quarter. Sales increased thanks to a 65% increase in the number of bets placed. The average monthly number of live events also increased by 43%.
Net sales of its platform reached 6.3 million euros, an increase of 87% and 8%, respectively, compared to the second quarter. MoneyMatrix saw a significant increase in the number of successful transactions by 59%. GamMatrix, its gaming and player account management platform, processed 110,000 bets per minute at its peak, a 22% increase compared to the second quarter.
Partners are becoming increasingly important for EveryMatrix
Due to its increased importance, EveryMatrix reported its affiliate segment as a separate entity for the first time. Net sales increased to 1.2 million euros, an increase of 48% and 44%, respectively, compared to the second quarter. This growth was largely driven by the addition of DeepCI starting in July 2023. DeepCI expanded the number of geographic locations served by more than 2x, now covering over 65 jurisdictions.
EBITDA rose by 113% to €13.7 million compared to the same period last year. This was despite negative foreign exchange effects, demonstrating the company’s continued strong ability to convert growth into profitability. EBITDA margin declined slightly to 50% from an all-time high in the second quarter, driven by foreign exchange headwinds and low sports retail margins due to negative results in line with other industry participants.
EveryMatrix CEO is focused on new customers
Ebbe Groes, Group CEO of EveryMatrix, said: “Everyone’s hard work paid off this quarter, with another very strong period of organic growth and profitability where we achieved some key milestones and achieved significant Tier 1 Projects started.”
“However, positive and social impact is also proven to promote a sustainable and profitable company. That’s why I was particularly proud in September when the company became the first provider to receive WLA certification for safer gambling.” This means we are committed to consistently implementing high standards for safer gambling and player protection in everything we do across the company, and I look forward to building on this as we move into 2024.”
Groes also focused on events after the period, when EveryMatrix went live with Germany’s Bet-at-home and the Hungarian National Lottery’s online brand TippmixPro. The company also signed a first federal content aggregation agreement in the regulated US market with operator BetPARX.
“Bet-at-home.de and SZRT were probably the most complex technical and regulatory undertakings that we have ever implemented in the 15 years since our founding, but we have delivered extensive turnkey projects with flying colors and with the involvement of almost all EveryMatrix companies. “Unity,” Groes added.
“More importantly, both customers have recognized the challenging nature of this migration and integration and are effusive in their praise of our work. This fills me with pride and confidence for our future growth.”