EveryMatrix Press Releases
EveryMatrix exceeds 2023 expectations with record annual results
EveryMatrix has registered the strongest financial results in its 16-year history setting record growth and profitability including 56% quarterly profit margin for Q4 2023 – its third consecutive quarter above 50%.
Announcing its combined Q4/full year 2023 financial results, the industry’s fastest growing iGaming technology provider set record annual net revenue of €114m across all products, up 75% from 2022 (€65m) and more than four times higher than in 2019 (€28m).
The business recorded significant growth in all business segments in Q4 with record quarterly net revenue of €36m, up 87% Year-on-Year (YoY).
Annual EBITDA surged to €60m for the full year, up 155% compared to 2022 and €20m for the quarter, up 194% YoY driven by strong sports trading margins and significant growth across its casino segment.
2023 – YEAR OF TIER-1 DELIVERY
EveryMatrix’s record-breaking 2023 financial performance was driven by continued excellence in technology and service delivery to a rapidly growing roster of 300+ global customers including its two largest turnkey platform launches to date: the Hungarian state lottery, Szerencsejáték Zrt and Bet-at-home in Germany. Both brands went live with the supplier’s turnkey platform and sportsbook solutions at the end of 2023 and are delivering impressive results.
The business also amplified its affiliate division with the acquisition of DeepCI, a leading iGaming intelligence platform offering game-changing data tracking across millions of affiliate publisher pages. PartnerMatrix integrated DeepCI in Q4 2023 enabling its customers to source untapped opportunities, enhance their brand’s footprint and maximise efficiencies and earnings.
PLAYMATRIX – NEW PRODUCT VERTICAL LAUNCH
On December 27th, 2023, the Group launched a new live casino product and business unit entitled PlayMatrix. Its first live Roulette product offers a cutting-edge platform and user interface built from scratch using the most modern technology available, offering 4K digital video signal processing technology with low latency enabling operators to offer next generation gaming to next generation players. The business will announce more details on PlayMatrix in the months to come.
CORE PRODUCTS CONTINUE TO SMASH RECORDS
EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino business unit generated €588m in Q4 2023, an increase of 89% YoY compared to the same period in 2022. Full year GGR stood at €1.9bn, up 83% YoY.
Quarterly casino net revenue rose to €17.9m, up 101% YoY while EBITDA reached €11.4m reflecting a 212% YoY increase. Full year net revenue reached €54.7m, up 86%, with EBITDA soaring 162% to €32.3m.
The OddsMatrix sports division had its best ever year setting record growth, profitability, and a record number of bets for tier-1 customers. Q4 net revenue was up 69% YoY to €9.1m, while EBITDA reached €4.9m, up 178% YoY. Q4 sports GGR climbed to €74m, up 210% YoY, while annual GGR rose 85% to €190m YoY.
Thanks to a series of major tier-1 launches OddsMatrix saw a 75% YoY rise in total bets from 109 million to 183m from 2022 to 2023, and a 95% QoQ increase in bets in Q4 2023 compared to the same period a year ago.
The business unit set its second highest ever month in GGR for customers in December 2023 at €44.4 million following a record month just four weeks earlier in November 2023 (€48.5m).
Platform saw Q4 2023 net revenue reach €7.9m, up 91% YoY, while EBITDA reached €4.0m, up 283% YoY.
The Affiliate Platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.3m, up 39% YoY with EBITDA down 21% YoY due to accelerated product investment.
Ebbe Groes, Group CEO of EveryMatrix, said: “2022 was phenomenal but this year’s numbers are mind blowing. Every business unit and every one of our employees has contributed to a stellar set of financials proving we really are among, if not, the industry’s fastest growing iGaming technology supplier.
“Our growth acceleration from 2019 to today is staggering, while crucially we continue to deliver huge returns for our customers. Particularly pleasing has been the development of our OddsMatrix technology where the team’s hard work has paid off in both winning and delivering to some of the largest operators in Europe. The last 12 months have propelled OddsMatrix to joining the ranks of the industry’s largest sportsbook providers.
“Our progress shows no signs of slowing with investment in PlayMatrix; an exciting new live casino product, new technologies, innovations, and new tier-1 customers in the pipeline, while we are closing in on our 1,000th employee at the same time as opening a state-of-the art, purpose-built headquarters in Bucharest. The future is very bright for EveryMatrix in 2024 and beyond.”
KEY Q4 & END OF YEAR HIGHLIGHTS
- Casino – First to launch casino content and aggregation services with WLA-member Veikkaus with more to come across 2024
- Sports – Live with bet-at-home and Hungarian lottery, two largest and most complex projects company has ever undertaken
- Platform – developed next generation Player Account Management: GamMatrix v2 using new microservices, can horizontally scale indefinitely and be customised for multiple markets, lowering time to market
- Affiliate – PartnerMatrix integrated DeepCI proving end-to-end insights for operators and affiliates sites
- Gained regulatory approval in Pennsylvania completing licencing process in all regulated US iGaming states
- Increased headcount to 900+ while growing profitability to record high EBITDA margin
- Three new senior hires in Q4 including CEO Games, CCO and Head of Lottery
- Opened purpose-built, eco-friendly HQ in Bucharest; opened new office in Batumi, Georgia to facilitate new product expansion
Read the full Q4 and End of Year 2024 Update on EveryMatrix.com
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Jonas Groes, highly experienced technology, finance and policy leader will become co-CEO of EveryMatrix from January 1st 2026 alongside company Co-Founder Ebbe Groes.
A long-time advisor, Jonas will join his brother at the beginning of the New Year to lead the business as it continues to scale and provide advanced turnkey platform technology to an increasing number of the world’s biggest brands and lotteries.
Jonas has a long and distinguished business career including the last 10 years as Partner of EY’s Nordic Consulting practice consisting of more than 1,200 people leading high-level projects with a focus on strategy, innovation and digitalisation towards major Government and infrastructure clients.
He is a results-driven leader with extensive experience in both public and privately owned companies with strong knowledge of technology, finance and policy. He will be based in Copenhagen, Denmark where EveryMatrix has recently opened an office.
Ebbe Groes, Co-Founder and Group CEO, EveryMatrix, said: “As the company’s growth continues, tripling our headcount in the last five years, and as we work with more of the largest gaming brands and lotteries, I needed to find someone who knows what it takes to scale a business and reach the ambitious targets we have for the next five years.
“Doing this means I will have more time to work on strategy and execute all the things we want to do to become a global top three tier-1 technology provider by 2030.”
“To share a CEO position requires complete trust at both personal and professional level. Jonas is the perfect candidate and I know he will go on to do amazing things at EveryMatrix. I’m very excited to soon be sharing the CEO position with him.”
Jonas Groes said: “Stepping into this role at EveryMatrix alongside my brother Ebbe is a dream come true. What he, Stian Hornsletten, and the rest of the team have built is nothing short of phenomenal and I’ve seen close hand just what it takes. We work well together and our differences and combined strengths complement one another. I can’t wait to get started.”
The post Jonas Groes named EveryMatrix Group Co-CEO appeared first on European Gaming Industry News.
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EveryMatrix platform technology has been selected by tier-1 operator Danske Licens Spil to power its casino and bingo in a long-term partnership.
Denmark’s leading casino brand and a subsidiary of state-owned Danske Spil will migrate its casino and bingo business from its existing provider to the EveryMatrix tech stack ready for a summer 2026 launch.
This includes EveryMatrix’s proven gamification and engagement tools enabling the brand to offer its customers richer, more engaging experiences while increasing acquisition and retention levels.
The partnership marks the tier-1 supplier’s most significant casino platform deal of this year and another large-scale state-owned operator signing a long-term technology agreement, cementing EveryMatrix’s place as one of the world’s most trusted and valuable iGaming platform providers.
It has delivered and won its largest tier-1 platform deals and generated record-breaking growth and profitability for both the business and its customers via its turnkey platform offering with casino, sports betting and technologies at the heart of its success.
Ebbe Groes, Group CEO & Co-Founder, EveryMatrix, said: “To earn the confidence of the Danske Licens Spil’s management team to deliver this project and replace their existing platform technology for the first time since Denmark regulated in 2012 is a huge endorsement. I’d like to personally thank them for the trust they’ve placed in EveryMatrix.
“The rate at which we’re winning and delivering large, tier-1 turnkey platform deals to power some of the world’s best-known brands is rapidly accelerating. This is thanks to the tireless efforts of our experts and the superior technology solutions they design and deploy.”
Søren Schneider, iGaming Director at Danske Licens Spil, said: “After a thorough selection process, we have chosen EveryMatrix as our future platform partner for casino and bingo. We look forward to leveraging their modern and flexible technology to enhance our offering and provide an engaging and responsible gaming experience for our customers. EveryMatrix’s agile platform makes it easy for us to integrate with a wide range of game providers, strengthening both our offering and the overall player experience.”
The post Danske Spil selects EveryMatrix to power casino and bingo offerings appeared first on European Gaming Industry News.
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