EveryMatrix has confirmed its status as the fastest growing iGaming technology supplier recording consecutive quarterly profit margin figures above 50%.
EveryMatrix’s Q3 2023 update shows net revenue of €27.2m and EBITDA of €14m, up 62% and 113% respectively year-on-year (YoY). This is the third consecutive quarter with organic net revenue growth above 50%.
Quarterly GGR performance for operator partners within the casino business unit generated €463m, a 77% YoY increase, with sports generating €35m in GGR, a YoY rise of 26%.
Platform net revenue reached €6.3m, up 87% YoY, while the Affiliate Platform division, that including PartnerMatrix and new acquisition DeepCI, saw net revenue grow to €1.2m, up 48% YoY.
Major milestones for the third quarter and its post period included becoming the first iGaming supplier to receive World Lottery Association (WLA) Safer Gambling Certification, maintaining a strong cash position with a balance of €24m at period end, total employee count rising to 850 across 12 countries, bet-at-home.de going live in Germany, completing the migration of 5.7m players across its global business, going live with the Hungarian Lottery with OddsMatrix-powered sportsbook and services, and securing the first US multistate content aggregation deal with betPARX and presenting the operator with the largest library of casino games in the country.
Ebbe Groes, Group CEO, says: “Everyone’s hard work has paid off this quarter with yet another very strong period of organic growth and profitability that has seen us accomplish some major milestones and launch significant tier-1 projects.
“bet-at-home.de and SZRT have arguably been the most complex technical and regulatory undertakings we have ever achieved in the 15 years since we began, but we have delivered extensive turnkey projects with flying colours and the involvement of almost every EveryMatrix business unit. More importantly, both clients have recognised the demanding nature of this migration and integration and have been glowing with praise for our work. This fills me with pride and confidence for our future growth.
“Positive and social impact, however, is also proven to drive a sustainable and profitable business so I was particularly proud in September when the business became the first supplier to achieve WLA Safer Gambling Certification. This sees us commit to consistently implementing high standards of safer gambling and player protection across the entire business in everything we do, and I look forward to building on this as we head towards 2024.”