Q2 2023: EveryMatrix profit margin hits 55% during seventh consecutive record quarter
EveryMatrix posted net revenue of €27m and EBITDA of €15m, marking year-on-year increases of 82% and 188% respectively.
Compared to the first quarter of 2023, these figures are up by 15% and 42% on a sequential basis.
The EBITDA margin rose from 45% in Q1 to 55% in Q2, propelled by aggressive growth and successful cost management strategies, according to the company.
The supplier also broke records across every business segment. Casino continues to be the primary growth engine, helping to achieve quarterly GGR of €432m — up 86%.
Casino revenue soared to €12.6m, marking an 83% rise compared to the same period of last year. EveryMatrix’s CasinoEngine platform delivered monthly turnover of €4bn and surpassed four billion monthly game rounds for the first time.
The sports betting business unit delivered GGR of €57m, which is a 137% increase on the same period of last year. Sports net revenue climbed 79% over the same period.
Strategic acquisition of DeepCI
During the reporting period, EveryMatrix announced the acquisition of DeepCI, a data-driven betting and gaming affiliate optimisation service.
DeepCI’s technology has the capability to monitor thousands of affiliate sites globally, thereby offering actionable recommendations to operators.
It counts operators such as bet365, 888, Betway, and Betsson as clients and has reached profitability.
It has now been integrated into the EveryMatrix platform, with CEO Lewis Civin managing it as an independent part of the group.
Reflecting on the performance, EveryMatrix CEO Ebbe Groes said: “Our mission this year centres around our relentless drive to deliver the highest quality technology and services for our customers, and a seventh record quarter in a row proves we are firmly on course to achieving our goals.”
During the quarter, EveryMatrix signed 26 new contracts across eight markets and added more than 50 new customers via the DeepCI acquisition.
The company also expanded its US footprint by going live with DraftKings and WynnBet and entered into an integrity partnership to safeguard US consumers from betting-related fraud and corruption.
The company also onboarded 80 new employees during the quarter, taking its total staff count to more than 750 across 12 countries.