EveryMatrix Record Breaking Results in Q1 2024

EveryMatrix, a leading iGaming technology provider, has achieved unprecedented success in the first quarter of 2024, surpassing its previous quarterly highs with remarkable revenue growth and profitability. This article delves into the comprehensive overview of EveryMatrix’s Q1 2024 performance, highlighting key achievements, financial milestones, strategic expansions, and future prospects.

Unprecedented Financial Performance

In Q1 2024, EveryMatrix achieved remarkable financial results, setting new records in net revenue and profit margins. The company reported a quarterly net revenue of €39 million, marking a substantial 66% Year-on-Year (YoY) growth. Moreover, EveryMatrix achieved an impressive quarterly profit margin of 57%, representing its fourth consecutive quarter with both growth and profit margin exceeding 50%. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for Q1 2024 surged to €22.3 million, reflecting a remarkable 111% YoY increase.

Steady Growth and Expansion

EveryMatrix’s stellar performance in Q1 2024 underscores its steady growth trajectory and expansion efforts across various business segments. The company witnessed significant client signings, multiple new client launches, robust sports trading activities, and sustained growth in the casino sector. EveryMatrix solidified its global presence by obtaining regulatory accreditation in Peru, further advancing its operations in the lucrative Latin American market. Additionally, the company made significant strides in the United States by launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey.

Global Workforce Expansion

In a significant post-period development, EveryMatrix reached a significant milestone by expanding its workforce to 1,000 employees across 13 global locations. The company’s largest purpose-built office in Bucharest, Romania, welcomed 450 personnel, reaffirming EveryMatrix’s commitment to fostering talent and innovation. Furthermore, EveryMatrix inaugurated a new office in Cebu, Philippines, dedicated to focusing on DeepCI data products, highlighting its strategic emphasis on technological innovation and product development.

Record-Breaking Performance in Casino Segment

EveryMatrix’s casino segment witnessed unprecedented growth and performance in Q1 2024. The quarterly Gross Gaming Revenue (GGR) for operator partners soared to €619 million, marking a remarkable 65% YoY increase. Over the last 12 months, the GGR reached €2.1 billion, reflecting a substantial 78% YoY surge. Quarterly casino net revenue surged to €19.9 million, representing an impressive 83% YoY growth, while EBITDA reached €13.2 million, reflecting a remarkable 132% YoY increase. The introduction of 886 new games through the SlotMatrix aggregation platform further bolstered EveryMatrix’s position in the online casino market.

Remarkable Performance in Sports Division

The OddsMatrix sports division also delivered stellar performance in Q1 2024, with significant growth in turnover and Gross Gaming Revenue. Turnover rose by 31% YoY to €1.3 billion, while GGR climbed an impressive 308% YoY to €96 million. Net revenue for Q1 2024 reached €10.5 million, representing a robust 78% YoY increase, with EBITDA soaring to €6.2 million, reflecting a remarkable 313% YoY surge. Notably, OddsMatrix covered a record 173,000 live events in a single month, underscoring its market-leading position and operational excellence.

Platform and Affiliate Platform Performance

EveryMatrix’s platform segment reported steady growth in Q1 2024, with quarterly net revenue reaching €7.3 million, up 28% YoY. The EBITDA for the segment stood at €3.2 million, reflecting a 13% YoY increase. The EveryMatrix Player Account Management (PAM) system achieved a significant milestone by processing 230,000 bets per minute at peak times, demonstrating the scalability and reliability of EveryMatrix’s technological infrastructure. Additionally, the Affiliate Platform division, including PartnerMatrix and DeepCI, witnessed impressive growth, with net revenue reaching €1.4 million during the quarter, representing a robust 39% YoY increase.

Ebbe Groes's Remarks

Ebbe Groes, Group CEO of EveryMatrix, expressed his satisfaction with the company’s outstanding performance in Q1 2024. He emphasized the company’s relentless pursuit of excellence across all business segments and highlighted the positive momentum driving EveryMatrix’s growth and expansion initiatives. Groes reiterated EveryMatrix’s commitment to innovation, technological advancement, and customer satisfaction, affirming the company’s optimistic outlook for the remainder of 2024 and beyond.

Q1 2024 Highlights

• Regulatory accreditation in Peru
• Signing of a turnkey customer with estimated annual net revenue exceeding €3 million
• Launch of casino content with leading operators such as Entain (BetMGM), Golden Nugget Online Gaming, and DraftKings
• Introduction of 886 new games on the SlotMatrix aggregation platform
• Integration of seven new casino vendors, bringing the total to 158
• Launch of several games by in-house games studio Armadillo Studios
• Release of 30+ new betting types across multiple sports
• Signing of 15 new clients by PartnerMatrix and 14 new clients by DeepCI
• Expansion of the total company headcount to over 1,000 employees, including the opening of an office in Cebu, Philippines
• Appointment of four new senior executives, including CEO MoneyMatrix, CEO PlayMatrix, CCO PlayMatrix, and CCO PartnerMatrix

Conclusion

EveryMatrix’s exceptional performance in Q1 2024 underscores its position as a market leader in iGaming technology and solutions. With robust financial results, strategic expansions, and a steadfast commitment to innovation, EveryMatrix is poised for continued success in the dynamic and competitive online gaming industry.

FAQ:

What were EveryMatrix’s quarterly net revenue and profit margin in Q1 2024?
EveryMatrix reported a quarterly net revenue of €39 million and a profit margin of 57% in Q1 2024.

How much did EveryMatrix’s EBITDA rise in Q1 2024 compared to the previous year?
EveryMatrix’s EBITDA surged to €22.3 million in Q1 2024, reflecting a remarkable 111% Year-on-Year increase.

What were the key highlights of EveryMatrix’s performance in the casino segment in Q1 2024?
In Q1 2024, EveryMatrix witnessed significant growth in the casino segment, with quarterly Gross Gaming Revenue (GGR) reaching €619 million, representing a 65% YoY increase. Quarterly casino net revenue surged to €19.9 million, with EBITDA reaching €13.2 million.

How did EveryMatrix’s sports division perform in Q1 2024?
EveryMatrix’s OddsMatrix sports division delivered stellar performance in Q1 2024, with turnover rising by 31% YoY to €1.3 billion and Gross Gaming Revenue (GGR) climbing 308% YoY to €96 million.

What expansions did EveryMatrix undergo in Q1 2024?
In Q1 2024, EveryMatrix expanded its workforce to 1,000 employees across 13 global locations. Additionally, the company opened a new office in Cebu, Philippines, focusing on DeepCI products.

Is EveryMatrix actively involved in the US market?
Yes, EveryMatrix made significant progress in the US market by launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey.

What are the key achievements of EveryMatrix’s platform segment in Q1 2024?
In Q1 2024, EveryMatrix’s platform segment reported steady growth, with quarterly net revenue reaching €7.3 million, up 28% YoY. The EveryMatrix Player Account Management (PAM) system achieved a new record by processing 230,000 bets per minute at peak times.

How many new games were introduced by EveryMatrix’s SlotMatrix aggregation platform in Q1 2024?
EveryMatrix introduced 886 new games on the SlotMatrix aggregation platform in Q1 2024, bringing the total to 27,825+ games.

What were the notable senior hires made by EveryMatrix in Q1 2024?
EveryMatrix appointed four new senior executives in Q1 2024, including CEO MoneyMatrix, CEO PlayMatrix, CCO PlayMatrix, and CCO PartnerMatrix.

What is EveryMatrix’s outlook for the remainder of 2024?
EveryMatrix remains optimistic about its future prospects, with a strong foundation for sustained growth and expansion across all business segments.