The company has achieved historic quarterly and annual financial results with record revenues, its highest historical growth, and dizzying profitability.
Press release.- EveryMatrix has announced unprecedented financial results during the last quarter of 2024. The company's expansion has accelerated enormously over the past five years; however, in the fourth quarter of 2024, combined with the full-year results, records were broken with the best quarter in its history, a historic maximum annual net income of EUR181m, a year-over-year increase of 59 percent, an EBITDA of EUR101m (+70 percent year-over-year) and a seventh consecutive profit margin above 50 percent.
These results were driven by the launch of large-scale new clients and the closing of different deals, as well as by the rapid growth of its main business units of sports and casinos, further strengthened by the solid margins of sports operations.
The results of the fourth quarter of 2024 saw EveryMatrix establish a record net income of EUR55m across all products, a year-over-year increase of 51 percent. The EBITDA for the fourth quarter stood at EUR30m, 49 percent more year-over-year.
The business was driven in 2024 by two acquisitions: FSB Technology in July and Fantasma Games in October. Both teams and products have been integrated and are already contributing to the revenue and the group's strategy in the development of sports betting platforms and gaming content. Both transactions were carried out in cash and were fully financed with treasury. The company remains debt-free.
EveryMatrix Group celebrated its biggest and best year in 2024 with a record performance across all product verticals, signing and delivering its largest tier 1 clients, including its first omnichannel deal with Arena Casino.
The company closed two mergers and acquisitions operations in FSB Technology and Fantasma Games, was selected first ahead of its competitors for several large-scale public procurement processes to be announced soon, further reinforcing the future of the business, and surpassed the milestone of 1,000 employees, now counting 1,300 team members.
EveryMatrix was also recognized by its peers with seven major industry awards - its best annual figure - including multichannel supplier, casino supplier, and aggregator of the year.
FSB Technology has added approximately an additional 14 percent of gross gaming revenue (GGR) to the volumes of the group's sports betting business unit, with ongoing client migration.
The acquisition has strengthened key areas of the business, including the betting house OddsMatrix, by doubling the trading and quantification team to enhance customization within managed risk and odds services. The deal also opened the UK and Africa markets for EveryMatrix.
The acquisition of Fantasma Games added 45 well-known titles that are already available with more than 250 operators and played by millions of players in over 50 countries. This increased EveryMatrix's internal portfolio to more than 120 games.
Fantasma Games' market distribution will also boost EveryMatrix's presence in fast-growing markets. North America remains a key focus area. SlotMatrix went live in West Virginia during the quarter and is licensed in all U.S. states where igaming is legal. The SlotMatrix commercial team has also been strengthened with the arrival of Björn Sjöberg as CCO, formerly CCO of Evolution Games.
The GGR for the fourth quarter of 2024 for the casino business unit's operating partners generated a thirteenth consecutive record quarterly performance of EUR782m, a year-over-year increase of 33 percent with a GGR over the last 12 months of EUR2.800m, a year-over-year increase of 49 percent and processing more than 73 billion rounds of play.
The quarterly net revenues of the casinos improved to EUR27.1m, a year-over-year increase of 52 percent, while the EBITDA reached EUR16.7m, reflecting a year-over-year increase of 46 percent. The SlotMatrix aggregation product introduced a total of 1145 unique game titles and integrated 33 new providers in the fourth quarter of 2024, raising the total to more than 175, well above any other aggregator worldwide.
OddsMatrix experienced an excellent growth period, increasing betting volume by 73 percent year-over-year and by a factor of 14 over a five-year period, with a total number of bets in 2024 exceeding 515 million.
The quarterly turnover of the betting houses increased to EUR1.900m and EUR5.900m over the last 12 months, reflecting a year-over-year increase of 50 percent, while the GGR for the fourth quarter reached a record of EUR160m, a year-over-year increase of 115 percent. Over the last 12 months, the GGR increased by 135 percent year-over-year to EUR448m. The net revenues for the quarter reached EUR17.5m, a year-over-year increase of 92 percent, while the EBITDA reached EUR11.4m, reflecting a year-over-year increase of 133 percent.
OddsMatrix reached a record number of live events for 2024 of more than 2 million events, a year-over-year increase of 16 percent driven by additional premium content.
Platform recorded a year-over-year increase in net revenues of 9 percent to EUR8.6m and an EBITDA of EUR2.8m. GamMatrix, the player account management (PAM) system of EveryMatrix, processed 450,000 gaming transactions per minute during peak hours, a quarter-over-quarter increase of 12 percent, and will also be available in new jurisdictions in 2024, including Peru and Croatia. The number of successful payment transactions reached 230 million in 2024. Since 2020, the MoneyMatrix payment platform has experienced a 25-fold increase in daily payment transactions, more than doubling year-over-year.
In 2024, the Affiliates division saw PartnerMatrix integrate PartnerMatrix Intelligence (formerly DeepCI) combining affiliate software and affiliate intelligence products into a single proposition. Throughout the year, the business unit signed 96 new deals. The quarterly net revenues amounted to EUR1.4m, a year-over-year increase of 2 percent, while the EBITDA decreased to – EUR 0.4m. The full-year net revenues reached EUR5.6m, a year-over-year increase of 26 percent, while the EBITDA stood at – EUR1.1m. Currently, this is the only area of EveryMatrix that is not performing satisfactorily.
Ebbe Groes, CEO of the EveryMatrix group, said: “The timing of our results at ICE could not be better as the industry gathers at the biggest event of the year. I am proud of all our achievements in 2024, but particularly in sports where OddsMatrix has experienced an incredible growth period, increasing betting volume by a factor of 14 in just five years.”
He then added: “The system's ability to handle this mega growth in bet placement, bet settlement, and risk management, while adding many features, is a testament to how solid its architecture is. Just this quarter we launched a completely rewritten Risk Management module, infinitely scalable and with many new features. Several clients have already migrated to it.”
See also: James Bennett, EveryMatrix: “For ICE Barcelona 2025 we have tripled our exhibition space with three stands”
