EveryMatrix’s rapid growth trajectory continued in Q3 2024 yet again setting record net revenue and delivering a sixth consecutive profit margin of more than 50%, boosted by two major casino and sports acquisitions in the last five months.

The global tier-1 business, that has seen headcount rise 31% Year-on-Year (YoY) to 1,188 following two all-cash acquisitions of FSB Technology in June and, post period, Fantasma Games in October, confirmed its status as the fastest growing iGaming technology supplier with another set of stellar financial results.

Unveiling Q3 2024 results EveryMatrix set a record high quarterly net revenue of €45 million across all products, up 66% YoY, while recording an EBITDA margin of 52%. Q3 EBITDA stood at €23m, up 71% YoY.

The sixth consecutive 50%+ quarterly profit margin was driven by new customer launches, continued growth in its core sports and casino business units and further bolstered by strong sports trading margins.

FUTUREPROOFING THE GROUP WITH VALUE-ADDING ACQUISITIONS

The EveryMatrix Group significantly bolstered future success, further market penetration and a strong pipeline of new customers with two value-adding acquisitions: FSB Technology and Fantasma Games.

FSB Technology has added approximately 15% additional Gross Gaming Revenue (GGR) to the Group’s sportsbook business unit volumes with customer migration on schedule. This includes UK operator BetGoodwin that agreed a multi-year deal to expand its use of EveryMatrix’s turnkey sports and casino technology.

The acquisition has also strengthened key areas of the business, including the OddsMatrix sportsbook, by doubling the trading and quants team to enhance personalisation within managed odds and risk services.

Fantasma Games, one of the fastest growing young casino studios in the industry, was added to the Group in October. The integration of the Fantasma Games team will bring strong commercial, technical, and creative skills.

EveryMatrix customers will benefit significantly with the immediate addition of well-known titles that are already live with more than 250 operators and played by millions of players across 50+ countries.

Fantasma Games’ market distribution will also boost EveryMatrix’s presence in rapidly growing markets such as North America where the industry’s fastest growing technology provider has ambitious plans to build on its established partnerships with tier-1 brands.

CORE BUSINESS UNITS EXPERIENCE ACCELERATED GROWTH

Q3 2024 GGR for operator partners within the Casino business unit generated a twelfth consecutive record quarterly performance of €709m, up 53% YoY with GGR for the last 12 months at €2.6 billion, a 63% YoY increase.

Quarterly casino net revenue improved to €23.8m, up 78% YoY while EBITDA reached €14.9m reflecting a 95% YoY increase. The SlotMatrix aggregation product introduced a total of 970 unique game titles and integrated 10 new vendors bringing the total to more than 170, well above any other aggregator worldwide.

OddsMatrix quarterly sportsbook turnover climbed to 87% YoY to €1.5bn and €5.3bn for the last 12 months reflecting a 60% YoY increase, while last 12 months GGR rose by 158% YoY to €361.9m. Net revenue for the quarter reached €11.7m, up 85% YoY, while EBITDA reached €6m, reflecting a 117% YoY increase.

OddsMatrix hit a record number of live events with 530k in Q3, up 14% YoY. The total number of bets placed in Q3 reached 132m, reflecting a 225% increase YOY.

Platform saw third quarter net revenue rise 30% YoY to €8.1m, with EBITDA at €2.8m. GamMatrix, the EveryMatrix Player Account Management (PAM) system, processed 400k bets per minute during peak hours, up 18% QoQ, while also going live in Peru. The number of successful payment transactions reached €4.4bn in Q3, a 91% YoY increase.

The Affiliate division, including PartnerMatrix and PartnerMatrix Intelligence, launched a new website combining affiliate software and affiliate intelligence products under one proposition. The business unit reached 82 active clients, an 11% QoQ increase and saw net revenue reach €1.4m in Q3 2024, up 13% YoY. EBITDA decreased -€0.25m due to continued product and commercial investment.

Ebbe Groes, Group CEO of EveryMatrix, said: “The last few months have been some of the busiest since we founded the company 16 years ago; continuing to drive record GGR for our customers, launching more tier-1 operators and making two significant acquisitions that have instantly added value to the wider Group and that will futureproof both our sports and games divisions.

“As a result of these deals we expect to see even more growth and profitability as we migrate more FSB customers to our technologies and our Games division accelerates production and distribution to become a significant global studio.

“We are the clear frontrunner when it comes to being the fastest growing iGaming supplier.”

Q3 2024 HIGHLIGHTS

• Integration of FSB Technology into wider Group, double trading team and migration of customers to EveryMatrix technology
• Won Tier 1 operator in Africa, Mbet, on the back of the FSB acquisition (post period)
• Acquisition of Fantasma Games to futureproof Games business unit. This includes two new offices in Stockholm, Sweden and Sofia, Bulgaria, bringing the Group’s office total to 15 worldwide (post-period)
• Pinnacle, tier-1 operator, live with EveryMatrix casino platform technology
• GamMatrix live in Peru with all certifications
• PartnerMatrix and PartnerMatrix Intelligence launch new website to create an all-in-one affiliate management and data tracking proposition
• Launch of LoyaltyEngine, advanced loyalty module where players earn XP, level up, and earn coins that can be spent in a Loyalty Shop
• Winner of the Multi-channel Supplier of the Year at SBC Awards and Starlet Awards
• Kevin Furlong promoted to Group Chief Product Officer with responsibility for product strategy across all business units
• Launch of ‘Academy for Heroes’, second EveryMatrix funded NGO. Designed to help veterans of the Ukraine conflict develop careers in IT

Read the full Q3 2024 Update on EveryMatrix.com

EveryMatrix has launched ‘The EveryMatrix Effect’ a unique on-demand video series designed to empower operators to overcome the biggest casino pain points and showcase the impact its technology has on more than 300 global customers.

The campaign is the second successive collaboration with iGaming Business following the award-winning Slot Trumps series that uncovered exclusive player behaviour data across the world’s hottest casino markets. Slot Trumps received great industry acclaim and was viewed more than seven million times across all channels.

For the first time The EveryMatrix Effect video series is hosted on a dedicated section of the iGaming Business website and has been purpose-built to deliver expert insights, actionable tips and learnings and real-world success stories that will help operators navigate the complexities of online casino operations.

Each month the dedicated section will see a new video launched alongside a feast of analysis, data and testimonials discussing the common most challenges casino brands face, how to approach each one and evidence of the ‘EveryMatrix Effect’ across some of the tier-1 providers customers.

In the opening episode, Alexandra Breinig, casino sales manager at EveryMatrix, dives into one of the most important challenges operators face: limited access to quality content and the need for localisation when expanding into new markets. From European regulations to the agility of Latin American and African markets, she shares essential advice to help you stay ahead.

Here is a sneak peak of episode two, live next Wednesday. In this episode EveryMatrix tackles how operators can optimise lobby management and UI personalisation, adapting to market-specific needs and regulations.

Stian Enger Pettersen, CEO, Casino, EveryMatrix, said: “Over the course of 16 years EveryMatrix’s modular technology from casino and sportsbook to affiliate management, player account management and payments, has had a colossal impact on our customers driving record player volumes and revenues. We call this the ‘EveryMatrix Effect’.

“Whether you are entering new markets, scaling your business or addressing ongoing issues, our carefully crafted on-demand video and content series offers data-driven best practices and performance metrics to support your success.”

EveryMatrix has finalised a multi-year agreement with rapid-growth operator BetGoodwin to power its UK business with the Tier 1 provider’s award-winning turnkey technology.

The turnkey sportsbook driven partnership will see BetGoodwin unlock access to an end-to-end suite of advanced OddsMatrix digital sports betting software solutions including comprehensive coverage from more than 100,000 live monthly matches, empowering Odds Management control tools and a suite of player focused front end features. This includes an 11-sport strong Bet Builder, multi-layered Cash Out engine, Early Payout, Odds Boost and much more.

In tandem with its upgrade to OddsMatrix sportsbook technology, BetGoodwin will also expand its core turnkey platform services by integrating several of EveryMatrix’s leading platform products.

This includes casino productivity platform CasinoEngine, player management platform GamMatrix and payments platform MoneyMatrix enabling it to increase revenues and everyday efficiencies.

BetGoodwin becomes the latest FSB Technology client to commit to EveryMatrix technology since its acquisition by the Tier 1-provider earlier this year.

By partnering with EveryMatrix, the industry’s fastest growing iGaming technology supplier, BetGoodwin will have access to the tier-1 provider’s 1,100+ experts across 14 global offices, including the UK, and its comprehensive modular product suite. This will enable it to supercharge its product performance, develop advanced features in record time and access round-the-clock support.

Launching on the FSB sportsbook platform in 2022, BetGoodwin is a rapidly growing UK brand with an expanding client base, portfolio of key horse racing sponsorships and a programme of brand ambassador partnerships including jockey Tom Cannon and media personality Mike Cattermole.

Ebbe Groes, CEO and co-founder, EveryMatrix, said: “We are proud to welcome BetGoodwin onto the EveryMatrix platform. The growth journey they have experienced in the UK over the last two years has been great to see and we look forward to elevating this ambitious operator to the next level.

“It is a fantastic endorsement of our turnkey technology that this flourishing brand has committed to a long-term agreement.

“This partnership underlines our commitment to offering world-class software products and services within highly competitive, global regulated markets such as the UK.”

Julian Head, CEO, BetGoodwin, said: “This agreement demonstrates the trust we have in the EveryMatrix technology and team. We have been impressed by the game-changing capabilities of their comprehensive turnkey platform services and are confident their technology can be the catalyst for our future growth in the UK.

“Horse racing is an integral part of our brand proposition and the forthcoming launch of OddsMatrix’s proprietary racing product will provide our growing player base with a standout service.”