EveryMatrix reports seventh consecutive record-breaking quarter in Q2 2023
EveryMatrix achieved the seventh consecutive record-breaking quarter, with an increase of 55 percent profit margin. Q2 Sees €27 million net revenue, €15 million EBITDA, and impressive growth across all business segments. Strategic acquisition of DeepCI enhanced the company’s market position. CEO Ebbe Groes reflected on firm’s vision and expansion success saying that the company was well on the way of achieving its long-term goals.
Profit Margin Surges by 55%
In a remarkable display of financial strength, EveryMatrix has published its Q2 2023 financial results, marking an impressive seventh consecutive record-breaking quarter. The company’s exceptional performance is underscored by a remarkable 55 percent surge in its profit margin, cementing its status as one of the most prosperous suppliers in the industry.
EBITDA for seven consecutive quarters with Q2 2023 at 55%.. (Source: SiGMA)
Substantial growth margin
EveryMatrix has notched up some impressive numbers on its scoreboard for Q2 2023. The company reported a substantial net revenue of €27 million and an EBITDA of €15 million, signifying substantial year-on-year increases of 82 percent and 188 percent, respectively.
Compared to the previous quarter of 2023, these figures have risen by a significant 15 perecent and 42 percent on a sequential basis. The substantial growth in the EBITDA margin, which catapulted from 45 percent in Q1 to an impressive 55 percent in Q2, can be attributed to aggressive growth strategies and astute cost management, according to the company.
Record-Breaking Performance Across the Board
EveryMatrix has shattered records in every facet of its business. The casino segment remains the driving force, contributing to a quarterly Gross Gaming Revenue (GGR) of €432 million, marking a substantial 86 percent increase. Casino revenue, in particular, soared to €12.6 million, an 83% rise compared to the same period last year. EveryMatrix’s CasinoEngine platform demonstrated its prowess by achieving a monthly turnover of €4 billion and surpassing four billion monthly game rounds for the first time.
The sports betting business unit also played a significant role in this success, delivering a GGR of €57 million, an increase of 137 percent when compared to the same period last year. Sports net revenue followed suit, climbing by an impressive 79 percent over the same period.
Finally, the platform business unit reported a substantial net revenue increase of 85 percent, thanks to clients placing over 90,000 bets per minute during peak times.
Strategic Acquisition of DeepCI
In a strategic move during the reporting period, EveryMatrix made headlines by announcing the acquisition of DeepCI, a data-driven betting and gaming affiliate optimization service. DeepCI’s cutting-edge technology boasts the capability to monitor thousands of affiliate sites worldwide, offering actionable recommendations to operators.
DeepCI boasts an impressive clientele, with operators like bet365, 888, Betway, and Betsson on its roster, and has achieved profitability. The integration of DeepCI into the EveryMatrix platform is now complete, with CEO Lewis Civin overseeing its operations as an independent part of the group.
CEO’s Perspective
Reflecting on this extraordinary performance, EveryMatrix CEO Ebbe Groes (pictured above), expressed his thoughts, stating, “Our mission this year centers around our relentless drive to deliver the highest quality technology and services for our customers, and a seventh record quarter in a row proves we are firmly on course to achieving our goals.”
During the quarter, EveryMatrix inked 26 new contracts across eight markets and expanded its customer base by more than 50 through the DeepCI acquisition. The company also strengthened its presence in the United States by going live with DraftKings and WynnBet and entered into an integrity partnership aimed at safeguarding US consumers from betting-related fraud and corruption.
Furthermore, EveryMatrix added 80 new employees to its workforce during the quarter, increasing its total staff count to over 750 employees spanning 12 countries.
With a great Q2 performance and strategic moves on multiple fronts, EveryMatrix is poised for continued success in the dynamic world of betting and gaming.
What the sports betting strategist says
EveryMatrix’s Q2 2023 results are a clear indicator of a company on an upward trajectory, says Dimitry Belianin to SiGMA News. Belianin is a leading sports betting industry strategist with over 17 years experience of analysing the industry. The 82 percent YoY growth in net revenue and 188 percent YoY increase in EBITDA, he says, are particularly noteworthy. He explains that these figures are boosted by a 55 percent profit margin and this demonstrates effective operational management.
He believes that the acquisition of DeepCI and the launch of the Maltese national Lottery are significant milestones that enhance the company’s market position. With a cash reserve of £34 million, Belanin believes that EveryMatrix is not only stable but also has the financial muscle for future expansion.”
