EveryMatrix Press Releases
EveryMatrix reveals strong start to 2022 with growth across all business segments
B2B iGaming technology provider EveryMatrix reveals strong results for Q1 of 2022.
EveryMatrix’s Q1 update shows Gross Profit growth across all business segments (Casino, Sports, and Platform), a strong cash position and sustained business momentum. The Group has reinvested the positive cash flow in its in-house game studios and expansion into the U.S. market, both set to support the Company’s future growth.
CONTINUED GROSS PROFIT GROWTH
Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 14% Y/Y in Q1 2021 to €13.9 million (12.3) with a 4-year CAGR of 35%. Gross Profit was driven by substantial growth around the world and the stabilisation of German revenues after the regulatory changes there.
EBITDA is down by 14% to €4.8 million (5.6) versus a strong comparative in the first quarter of last year. €4.8 million is on par with the 2021 average. The Company has continued to invest in its game studios (Spearhead Studios, Armadillo Studios and SlotMatrix RGS) and the U.S. market during the period.
The EBITDA/Gross Profit margin was 35% (46%), which is at the same level as the EBITDA/Gross Profit margin for the full year 2021. The margin was affected by the increase in the Group’s headcount from 553 at the end of Q1 2021 to 669 at the end of Q1 2022, and costs associated with the game studios and U.S. investments.
Net Cash grew from €5.9 million in Q1 2021 to €11.1 million in Q1 2022. The Company is reinvesting positive cash flow into future growth and remains debt-free.
Ebbe Groes, Group CEO of EveryMatrix, says: “We have started the year with a strong financial performance across all three business segments, driven by our well-balanced and innovative product offering and broad client base. We saw a record number of new client wins in the quarter with 40 deals signed across all products.
“We continue to invest organically for our next level of growth, mainly in our game studios and the North American markets. On top of the organic investments, we are also looking at M&A opportunities.”
KEY MILESTONES IN Q1
- Six new Tier 1 clients were added in Q1 across the U.S., Africa, Asia, and Europe.
- The newly launched SlotMatrix, the pure B2B casino content aggregator, is off to a good start, with 13 clients signed already in Q1.
- The casino gamification solution JackpotEngine was launched ahead of ICE 2022.
- A B2B gaming license was granted in West Virginia, and applications were filed in additional states.
- New features were added to the Company’s sportsbook OddsMatrix, including BetBuilder for American football and coverage of three more Esports titles.
- The Company initiated a determined welfare support programme for its Ukrainian staff.
“Throughout the events in Ukraine, our number one priority has been the health and safety of our colleagues, clients, and partners. We have managed our operations with minimal interruptions since Lviv is a development office and I am truly thankful for the aid from our employees and our wider ecosystem,” comments Ebbe Groes.
SALES PIPELINE
EveryMatrix has a solid sales pipeline with promising opportunities across the globe.
“The strength of the EveryMatrix team, the number of active leads, client wins and launches, and new product features, together with our continued investments, both organically and through M&A, make me confident about our growth and financial performance in 2022 and beyond,” concludes Ebbe Groes.
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EveryMatrix Press Releases
EveryMatrix hits 16-year quarterly high
EveryMatrix has smashed its historical quarterly high with continued strong revenue growth and profitability hitting a new record.
Announcing Q1 2024 results, the industry’s fastest growing iGaming technology provider had quarterly net revenue of €39 million across all products, growth of 66% Year-on-Year (YoY), while also setting a quarterly profit margin record of 57% – its fourth consecutive quarter with both growth and profit margin above 50%.
Q1 2024 EBITDA rose to €22.3m, up 111% YoY.
The record quarter comes just three months after EveryMatrix registered the strongest financial results in its history.
STARTING THE YEAR IN STYLE
The EveryMatrix financial year is underway in style, driven by large value client signings, multiple new client launches across all the company’s core business units, strong sports trading and innovation and continued growth in casino.
EveryMatrix was among the first wave of iGaming technology providers to gain regulatory accreditation in Peru, while it made further progress in the US launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey.
The tier-1 supplier also hit a significant post-period milestone reaching 1,000 employees across 13 global locations, with its largest purpose-built office opening its doors to 450 personnel in Bucharest, Romania and a new office launched in Cebu, Philippines, dedicated to focusing on DeepCI data products.
CASINO AND SPORTS CONTINUE TO SHINE
EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino segment generated a record quarterly performance of €619m in Q1 2024, up 65% YoY with GGR for the last 12 months at €2.1 billion, a 78% YoY increase.
Quarterly casino net revenue rose to €19.9m, up 83% YoY while EBITDA reached €13.2m reflecting a 132% YoY increase. The SlotMatrix aggregation product introduced 886 new games.
The OddsMatrix sports division saw turnover rise 31% YoY to €1.3bn, with GGR climbing 308% YoY to €96m. Net revenue for Q1 2024 reached €10.5m, up 78% YoY, while EBITDA hit €6.2m, reflecting a 313% increase.
OddsMatrix covered a record 173k live events in a single month. The average monthly number of bets placed reached 39m.
Platform saw quarterly net revenue reach €7.3m, up 28% YoY, with EBITDA at €3.2m, up 13% YoY. The EveryMatrix Player Account Management (PAM) system hit a massive new record of 230k bets per minute at peak times.
The Affiliate Platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.4m during the quarter, up 39% YoY, with EBITDA down €0.4m due to continued product and commercial investment. DeepCI added 22 further geos to its offering and signed 14 new clients, while PartnerMatrix signed 15.
Ebbe Groes, Group CEO of EveryMatrix, said: “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet.
“It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond.
“Watch this space as there is plenty more to come from EveryMatrix this year!”
Q1 2024 HIGHLIGHTS
- Among first wave of B2B technology providers to gain regulatory accreditation in Peru
- Signed a turnkey customer estimated to deliver more than €3m annual net revenue
- Live on DraftKings in New Jersey with first US casino content aggregation partner – Supremeland Gaming Inc
- Launched game content with Entain (BetMGM), Golden Nugget Online Gaming and DraftKings
- 886 new games on SlotMatrix aggregation platform bringing total to 27,825+ games
- Integrated seven new casino vendors bringing total to 158
- In-house games studio Armadillo Studios launched several games including Alice’s Mad Fortune, Shamrock Surprise, Gummy Galaxy and Paws & Claws
- Released 30+ new betting types across multiple sports
- Signed 15 and 14 new PartnerMatrix and DeepCI clients respectively
- Increased total company headcount post-period to 1,000+ including opening an office in Cebu, Philippines focusing on DeepCI products
- Four new senior hires in Q1 including CEO MoneyMatrix, CEO PlayMatrix, CCO PlayMatrix, CCO PartnerMatrix
The post EveryMatrix hits 16-year quarterly high appeared first on European Gaming Industry News.
Compliance Updates
EveryMatrix accelerates LatAm growth with Peru market accreditation
EveryMatrix will imminently launch a series of new customers in Peru following regulatory accreditation from the country’s Ministry of Foreign Trade & Tourism (Mincetur).
The tier-1 iGaming technology provider excels in delivering compliant solutions within regulated and emerging markets and is one of the first to be accredited in the country enabling its customers to gain early market share.
Regulatory approval will also further expand its reach across the rapidly growing Latin America market with several new customers due to launch in Peru in the coming months.
EveryMatrix is live in several LatAm markets and is significantly accelerating its regulated growth across the region with a dedicated office opening later this year.
LatAm customers have access to its entire range of proven, modular revenue-generating technology products. This includes online casino and sportsbook platforms, player account management and sports and esports odds/data feeds.
EveryMatrix clients can also select from affiliate management and optimisation software and services, gamification, bonus and loyalty features, localised content and aggregation and bespoke safer gambling tools.
Mincetur has projected that approximately Sol3.8 billion (€1bn) in bets was placed in 2022 with online gaming and sports betting estimated to produce Sol162m (€40.6m) a year for the state.
Bobby Longhurst, Group Chief Commercial Officer, EveryMatrix said: “We’re delighted to be among the first technology providers to be given accreditation so we can instantly power our customers to gain valuable, early market share.
“This is a vital step in further increasing our footprint in LatAm, both as Peru and the wider region continue to regulate. We see huge opportunities across all our product areas including turnkey partnerships that involve multiple EveryMatrix products and services coming together to launch or relaunch operator offerings.
“We’ve proven we can deliver large-scale tier-1 technology projects in Europe and are excited at the prospect of replicating this success in Latin America.
“It’s no secret the LatAm market is gathering speed and we’re determined to be at the forefront of that growth in the months and years ahead.”
The post EveryMatrix accelerates LatAm growth with Peru market accreditation appeared first on European Gaming Industry News.
Eastern Europe
EveryMatrix opens new eco-friendly HQ in Bucharest as it announces 1,000th employee
EveryMatrix has officially inaugurated its new development hub, located at the heart of Bucharest, Romania, while also reaching a milestone of 1,000 employees.
In collaboration with STRABAG Real Estate, construction on the cutting-edge business hub commenced in 2022 with the building now open, providing the tier-1 iGaming supplier’s Bucharest-based team of 400+ staff and growing with a modern, eco-conscious workspace.
EveryMatrix has also surpassed the 1,000-employee mark, just 16 years after it was founded in 2008. The company’s purely organic growth has sky-rocketed in the last four years, with the number of staff increasing by 90%, up from 525 employees in 2020 to 1,000 today. The business announced record profitability in 2023.
The new office is situated near University Square, the city’s focal point with the central location streamlining commute times, making it easily accessible to employees, clients, and partners.
Equipped with a large in-house gym, spa, pool, garden and state-of-the-art amenities across six dedicated floors, as well as free electric car charging points for all staff to encourage switching from fossil fuelled transport, Arghezi 4 was designed to offer the best working experience and environment, catering to the diverse needs of EveryMatrix’s employees.
Click here for an exclusive glimpse into the office and the benefits and features of the building’s beautifully crafted interiors.
The building meets rigorous LEED V4 Gold green certification using sustainable construction practices to minimise environmental and human health risks. Employing building materials and construction methods that are not harmful to the climate and environment, the new office sets a new standard for corporate and environmental responsibility.
Ebbe Groes, Group CEO, EveryMatrix, said: “Building our own HQ has been very exciting but has equally involved a great deal of work. This is our first purpose-built office here, so its opening, combined with our 1,000th employee represents a special moment in the company’s 16-year history.
“We are continually investing in the development of the business and its culture for both the well-being of our employees and to futureproof EveryMatrix, and I know from speaking to many of the teams here that it ticks all the boxes for our colleagues’ happiness.”
Marius Iancu, Global Head of HR, EveryMatrix, added: “This building is not just a new office; it also serves as an important part of our talent acquisition strategy from 2024 onwards. Every one of its elements has been designed to position EveryMatrix as an employer of choice and provide our teams with a work-life experience that goes beyond expectations.”
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