Leading iGaming tech supplier EveryMatrix has released its Q2 results, showcasing its highest-ever quarterly profit margin. The tier-1 provider reported a revenue of EUR 42.4 million ($46 million) across all products, reflecting a 57% year-on-year increase. Additionally, the company achieved a record-high profit margin of 59%.
According to EveryMatrix, Q2 2024 marked its fifth consecutive quarter with both growth and profit margins surpassing 50%. During this period, the company’s EBITDA increased to EUR 25.1 million ($27.2 million), a 67% year-on-year rise.
EveryMatrix attributed these favorable results to significant customer launches, positive sports trading margins, and continuous growth in its core business units. Following a record-breaking 2023, EveryMatrix is well-positioned to drive further growth.
EveryMatrix Reports Numerous Significant Achievements
Additional Q2 2022 highlights included the notable acquisition of FSB Technology, EveryMatrix’s largest M&A deal to date. This acquisition is expected to enhance its OddsMatrix sportsbook platform and odds feeds division, generate immediate additional revenues, and expand its presence in the UK, Ireland, and Africa.
The OddsMatrix division reported a quarterly turnover of EUR 1.2 billion ($1.3 billion), a 48% year-on-year increase. GGR rose by 67% to EUR 95 million ($103 million), while net revenue climbed 44% YOY to EUR 11.3 million ($12.3 million). EBITDA for this division grew by 65% to EUR 7.2 million ($7.8 million).
OddsMatrix also achieved a record 176,000 live events in a single month and a total of 500,000 during the quarter, a 16% year-on-year increase.
EveryMatrix’s Platform division saw a net revenue growth of 35% year-on-year to EUR 7.8 million ($8.5 million), with EBITDA reaching EUR 3.4 million ($3.7 million). The company’s PAM system recorded a peak of 255,000 bets per minute, setting a new record.
Meanwhile, PartnerMatrix and the recently rebranded PartnerMatrix Intelligence reported net revenue of EUR 1.4 million ($1.5 million) for the quarter, despite a slight decrease in EBITDA.
In Q2, EveryMatrix formed its first aggregation partnership in the US, was named Casino Software Supplier and Aggregator Platform at the EGR Awards, and received the Aggregator of the Year award at the CasinoBeats Developer Awards.
CEO Groes Anticipates Future Success
CEO Ebbe Groes commented on EveryMatrix’s success, expressing his amazement at the company’s continuous improvement. He noted that the sustained growth is benefiting not only the business but also its customers, enabling them to consistently break their own records.
Groes highlighted the significance of EveryMatrix’s Q2 achievements, expressing optimism about the FSB Technology acquisition and the enhancements to PartnerMatrix with PartnerMatrix Intelligence. He concluded by stating that EveryMatrix has substantial momentum and he eagerly anticipates the future developments.
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