Connect with us

WINNING COMBINATION - SOFTSWISS develops innovative iGaming software products for online casino, sports betting, and beyond. Our products can be delivered as standalone solutions or combined into a single iGaming Platform.

The future of sports betting: BETBY sportsbook is focused on innovation through deep industry knowledge, state-of-the-art software & endless customization possibilities.

EveryMatrix Press Releases

EveryMatrix reveals strong start to 2022 with growth across all business segments

Published

on


EveryMatrix reveals strong start to 2022 with growth across all business segments
Reading Time: 2 minutes

 

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.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Advertisement

Advertisement

Level up, Lead The market with AFFINA Partners

Advertisement

Golden Boomerang Awards is a prestigious event that offers the chance to compete against top webmasters worldwide and grab golden figurines, prizes, and cash rewards.

Trending (Top 7)

Discover the Magic of EuropeanGaming.eu – Your Gateway to the Gaming Universe

At the heart of the ever-evolving gaming and gambling industry lies EuropeanGaming.eu, a trailblazing online platform that has become the go-to destination for industry professionals, enthusiasts, and stakeholders. As part of HIPTHER, we’re redefining how the gaming world connects, informs, and inspires.

More Than News – A Hub of Insight and Innovation

Reaching over 300,000 readers monthly, EuropeanGaming.eu goes beyond headlines to deliver compelling stories, expert insights, and the latest industry news. From regulatory updates and compliance breakthroughs to the pulse-pounding world of esports and technological advancements, we provide comprehensive coverage of the topics that matter most:

  • Online and Land-Based Gaming
  • Betting and Esports
  • Regulatory and Compliance Updates
  • Cutting-Edge Technology in Gaming

Whether it’s daily news, exclusive interviews with industry leaders, in-depth event reports, or press releases that set the tone for the future, our content resonates with a global audience while maintaining a focus on Europe’s dynamic gaming market.

Bringing the Industry Together

Our impact doesn’t stop at digital content. EuropeanGaming.eu is a proud host of virtual meetups and industry-leading conferences that spark dialogue, foster collaboration, and drive innovation. Through detailed reports and live events, we create a space where operators, suppliers, regulators, and professional services come together to shape the future of gaming.

Why EuropeanGaming.eu?

At HIPTHER, we believe in empowering the gaming community with knowledge, connection, and opportunity. EuropeanGaming.eu embodies this spirit by serving as a one-stop resource for the latest trends, market developments, and global perspectives. Whether you’re an industry veteran, a rising operator, or a gaming enthusiast, this is where you find the stories that drive progress.

Get In Touch

Let’s shape the future of gaming together!


Copyright © 2015 - 2025
European Gaming is proudly part of HIPTHER. Registered in Romania under Proshirt SRL, Company Number: 2134306, EU VAT ID: RO21343605.
Office Address: Blvd. 1 Decembrie 1918 nr.5, Târgu Mureș, Romania

Join us as we celebrate a decade of delivering excellence and embrace the magic of what’s to come in 2025 and beyond!

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.