EveryMatrix continues its remarkable growth in Q3 2024, achieving record-breaking revenues and maintaining a profit margin exceeding 50% for the sixth consecutive quarter.
This success is underscored by two key acquisitions—FSB Technology and Fantasma Games—demonstrating EveryMatrix's position as the fastest-growing iGaming technology supplier.
In its latest financial report, EveryMatrix announced a record quarterly net revenue of €45 million, marking a 66% increase year-on-year (YoY), with EBITDA reaching €23 million, up 71% YoY. The company attributes this growth to an influx of new customers, robust performance in its sports and casino divisions, and strong trading margins.
Acquisitions Bolster Future Expansion
The acquisitions of FSB Technology and Fantasma Games aim to strengthen EveryMatrix's presence and product offerings. With FSB Technology, EveryMatrix has increased its Gross Gaming Revenue (GGR) in its sportsbook unit by approximately 15%.
The integration has doubled the company's trading and analytics teams, enhancing the OddsMatrix sportsbook through more personalized managed odds and risk services. High-profile operators, including BetGoodwin, have signed multi-year agreements to expand their use of EveryMatrix’s turnkey solutions.
Fantasma Games, acquired in October, brings a creative edge with its established reputation for unique casino content. The acquisition adds popular titles, currently live with over 250 operators, and positions EveryMatrix for further expansion into high-growth markets like North America. Fantasma’s integration also adds technical and creative strength to EveryMatrix's already diverse offerings.
Ebbe Groes, Group CEO of EveryMatrix, commented: “The last few months have been some of the busiest since we founded the company 16 years ago; continuing to drive record GGR for our customers, launching more tier-1 operators, and making two significant acquisitions that have instantly added value to the wider Group and that will futureproof both our sports and games divisions. We are the clear frontrunner when it comes to being the fastest-growing iGaming supplier.”
Core Business Units Show Accelerated Growth
EveryMatrix's Casino and Sports business units experienced notable growth in Q3 2024.
Casino GGR for operator partners reached a new high of €709 million, marking a 53% increase YoY, while net revenue hit €23.8 million, up 78% YoY. SlotMatrix, EveryMatrix’s aggregation product, introduced 970 unique games in Q3, integrating 10 new vendors, making it the world’s largest aggregation platform.
The OddsMatrix sportsbook also showed impressive growth, with quarterly turnover reaching €1.5 billion, up 87% YoY. Total bets placed in Q3 increased by 225% YoY to 132 million, while net revenue reached €11.7 million, an 85% YoY increase.
Platform net revenue rose by 30% YoY to €8.1 million, with EveryMatrix's Player Account Management (PAM) system, GamMatrix, now live in Peru and processing a peak of 400,000 bets per minute.
In its Affiliate division, PartnerMatrix saw revenue grow by 13% YoY, reaching 82 active clients and launching a combined website for affiliate software and intelligence solutions.
Q3 2024 Highlights
Key milestones from Q3 include:
Full integration of FSB Technology into EveryMatrix, doubling the trading team and enhancing customer migration.
Addition of Fantasma Games, boosting EveryMatrix’s Games unit with new offices in Stockholm and Sofia.
Pinnacle, a tier-1 operator, went live on the EveryMatrix casino platform.
Launch of GamMatrix in Peru with full certifications.
Introduction of LoyaltyEngine, a module allowing players to earn and spend rewards in a Loyalty Shop.
New ‘Academy for Heroes’ NGO to help veterans from the Ukraine conflict pursue careers in IT.
EveryMatrix’s growth strategy continues to be robust, driven by a commitment to innovation, strategic acquisitions, and a focus on new market expansion. With a strong financial outlook and plans to broaden its reach further, EveryMatrix is poised for continued leadership in the global iGaming sector.
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