EveryMatrix achieved a record net revenue and secured a sixth consecutive profit margin over 50 percent, driven by two major key acquisitions that occurred in the last five months.
Press release.- EveryMatrix has shared its financial results for the third quarter of the year. The company set a record of quarterly net revenues of €45m across all its products, a 66 percent increase from the same period last year, while recording an EBITDA margin of 52 percent. The third quarter EBITDA stood at €23m, a 71 percent increase from the same period last year.
The company also reported that its workforce has increased by 31 percent year-on-year to 1,188 employees following the acquisition of FSB Technology in June and Fantasma Games in October. Thus, EveryMatrix confirms its status as the fastest-growing igaming technology provider with another series of stellar financial results.
The sixth consecutive quarterly profit margin over 50 percent was driven by the launch of new clients, continued growth of its main business units of sports and casino, and the reinforcement of strong margins from sports operations.
EveryMatrix has significantly strengthened its future success, greater market penetration, and a solid portfolio of new clients with two value-added acquisitions: FSB Technology and Fantasma Games.
FSB Technology has added approximately an additional 15 percent of Gross Gaming Revenue (GGR) to the Group's sports betting business unit volumes with customer migration as planned. This includes the British operator BetGoodwin, which agreed to a multi-year contract to expand its use of EveryMatrix's turnkey sports and casino technology.
The acquisition has also strengthened key areas of the business, such as OddsMatrix sports betting, doubling the trading and quants team to enhance customization within odds and risk management services.
Fantasma Games, one of the fastest-growing young casino studios in the industry, joined the Group in October. The integration of the Fantasma Games team will bring strong commercial, technical, and creative expertise.
EveryMatrix clients will significantly benefit from the immediate addition of well-known titles that are already live with more than 250 operators and played by millions of players in over 50 countries.
Fantasma Games' market distribution will also boost EveryMatrix's presence in fast-growing markets like North America, where the industry's fastest-growing technology provider has ambitious plans to build on its established partnerships with top-tier brands.
In the third quarter of 2024, the gross net revenues of associated operators from the Casino business unit reached their twelfth consecutive quarterly record, with €709m, a 53 percent increase from the same period last year, and the gross net revenues for the last 12 months amounted to €2.600m, a 63 percent increase from the same period last year.
Quarterly net casino revenues amounted to €23.8m, a 78 percent increase year-on-year, while EBITDA reached €14.9 million, with a year-on-year increase of 95 percent.
The aggregation product SlotMatrix introduced a total of 970 unique game titles and integrated 10 new providers, bringing the total to more than 170, well above any other global aggregator.
The quarterly turnover of OddsMatrix sports betting grew by 87 percent year-on-year to reach €1.500m and €5.300m in the last 12 months, reflecting a year-on-year increase of 60 percent, while the gross gross revenues for the last 12 months increased by 158 percent year-on-year to €361.9m. The net revenues for the quarter amounted to €11.7m, an 85 percent increase from the same period last year, while EBITDA reached €6m, a 117 percent increase from the same period last year.
OddsMatrix reached a record number of live events with 530,000 in the third quarter, a 14 percent increase from the same period last year. The total number of bets placed in the third quarter amounted to 132 million, representing a year-on-year increase of 225 percent.
The net revenues of the platform in the third quarter increased by 30 percent year-on-year, to €8.1m, with an EBITDA of €2.8m. GamMatrix, EveryMatrix's player account management (PAM) system, processed 400,000 bets per minute during peak hours, an 18 percent increase from the same period last year, and was also launched in Peru. The number of successful payment transactions reached €4.400m in the third quarter, representing a year-on-year increase of 91 percent.
The Affiliation division, which includes PartnerMatrix and PartnerMatrix Intelligence, launched a new website that combines affiliate software and affiliate intelligence products into a single proposition. The business unit reached 82 active clients, representing an inter-quarterly increase of 11 percent and recorded net revenues of €1.4m in the third quarter of 2024, a 13 percent increase from the same period last year. EBITDA decreased by €0.25m due to ongoing commercial and product investment.
Ebbe Groes, CEO of the EveryMatrix Group, stated: "The last few months have been some of the busiest since we founded the company 16 years ago: we have continued to drive the record of gross gross revenues for our clients, launched more top-tier operators, and made two significant acquisitions that have added instant value to the entire Group and will ensure the future of our sports and gaming divisions."
"As a result of these deals, we expect to see even more growth and profitability as we migrate more FSB clients to our technologies and our gaming division accelerates production and distribution to become a major global studio."
