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EveryMatrix Press Releases

EveryMatrix reports strong Q2 performance

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EveryMatrix reports strong Q2 performance
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B2B iGaming technology provider EveryMatrix announces strong results for Q2 of 2022.

EveryMatrix’s Q2 update shows financial performance ahead of expectations and Gross Profit growth across all business segments (Casino, Sports, and Platform) against the same period in 2021, a strong global sales performance with a significant contract signed, good cash balance, and a successful acquisition.

FINANCIAL PERFORMANCE AHEAD OF EXPECTATION

Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 17% Y/Y in Q2 2022 to €14.9 million (12.7) with a 4-year CAGR of 35%. While the regulatory changes in Germany impacted Gross Profit in the Casino segment, that segment still grew by 11% Y/Y thanks to the company’s product diversification and broad client base.

EBITDA held at €5.2 million (5.2) as the company continues to reinvest positive cash flow into future growth. Key investments remain U.S. expansion and the quarter saw the acquisition of retail sports betting supplier Leapbit, bringing in nearly 20 new staff and a Croatian office.

The EBITDA/Gross Profit margin was 35%.

Net Cash grew from €11.1 million at the end of Q1 2022 to €15.2 million in Q2 2022. The Company is reinvesting positive cash flow into future growth and remains debt-free.

Ebbe Groes, Group CEO of EveryMatrix, says: “Driven by our diverse product offering and strong client base, we saw yet another record number of new client wins in the quarter with 43 deals signed across all products. Furthermore, a 17% increase in Gross Profit, the best reflection of the underlying performance of the Group, allows us to continue to invest in our future growth.”

STRATEGIC ACQUISITION FINALISED

In May 2022, the company successfully finalised the acquisition of sports betting developer Leapbit. The merger strengthens the Group’s sports betting product OddsMatrix with an advanced and proven retail offering.

OddsMatrix will fully incorporate Leapbit’s comprehensive retail-focused software solution and other products such as virtual horse racing and lottery games. As such, the company elevates its online-first OddsMatrix sport betting platform to a true omnichannel iGaming solution to operators with retail presence.

Commenting on the largest acquisition to date, Ebbe Groes, says: “OddsMatrix is one of the company’s three pillars and is growing at a tremendous rate already. Retail is a big component of any comprehensive sports betting suite, and by integrating Leapbit’s technology, we will take OddsMatrix to become a leader of true omnichannel sports in regulated markets.

KEY MILESTONES IN Q2

  • New client wins record with 43 deals signed across all products in Q2 2022.
  • Reached 90% of Total Deal Value from 2021 for client wins in only 6 months.
  • 4 new Tier 1 clients secured with 888casino and BetMGM in the U.S., and in Europe, the National Lottery of Malta and one of the top operators in Italy.
  • 2 key clients in regulated markets, Germany and Romania, went live with CasinoEngine.
  • 54 new brands went live with SlotMatrix.

In Q1 2022, the Company initiated a determined welfare support programme for its Ukrainian staff. During Q2 2022, the Company offered continuous support to Ukrainian staff and large donations to supporting causes. At the period end, operations remain unaffected, and staff are now returning to Ukraine.

LARGE CLIENT SIGNING AFTER END OF Q2

In July 2022, B2B platform provider EveryMatrix and German-based operator bet-at-home agreed on the delivery of the supplier’s comprehensive turnkey solution. The Frankfurt-listed operator will replace its existing proprietary platform with EveryMatrix’s tech stack.

This includes a modern sportsbook, casino platform, player management, payments module, and affiliate software. The agreement covers all the markets where bet-at-home is currently present, including their core regulated German market.

This landmark agreement reflects the breadth and depth of our products, but especially the quality of our sports platform, OddsMatrix. The constant investment and development in OddsMatrix have been at the core of what we do for many years, and I’m happy to see more Tier 1 operators joining our client list.concludes Ebbe Groes.

Affiliate Industry

PartnerMatrix inks new affiliate channel deal with AdmiralBet

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PartnerMatrix inks new affiliate channel deal with AdmiralBet
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PartnerMatrix is proud to announce a new partnership with the established Serbian sports betting and casino platform, AdmiralBet.

Together with PartnerMatrix, AdmiralBet has launched its secure and modern affiliate channel, allowing partners and affiliates to raise the brand’s awareness by showcasing its products to a broader audience and engaging relevant traffic.

AdmiralBet is famous for its rich and modern gaming platform, gaining popularity in the Serbian market with its cutting-edge online sports betting offers. The brand also covers casino verticals while keeping clients active with numerous interesting bonuses and tournaments.

Levon Nikoghosyan, CEO of PartnerMatrix, comments: “Thanks to this agreement, PartnerMatrix is not only partnering with an established and respected brand but also entering the Serbian market, which already has a developed and legislated gaming market. With our latest features and system updates, we are looking forward to a productive cooperation with AdmiralBet’s team.

“AdmiralBet is well-known for its dynamic and modern sports betting solutions, and with the help of PartnerMatrix, I believe the company will create a more efficient traffic generating strategy, greatly expanding their audience.

Milan Djurmez, Head of Online Gaming at AdmiralBet, adds: “Affiliate Marketing is a new channel for us, but one that we reckon is an absolute necessity for enhancing our outreach. PartnerMatrix seemed to be the software that fit our needs the best and ticked all the boxes. We’re all-in with this, and I’m sure that the results will be worthy of all efforts and investments.

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EveryMatrix Press Releases

EveryMatrix maintains momentum in Q3 2022

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EveryMatrix maintains momentum in Q3 2022
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B2B iGaming technology provider EveryMatrix announces strong results for Q3 of 2022.

EveryMatrix’s Q3 update shows financial performance ahead of expectations and Gross Profit growth across all business segments (Casino, Sports, and Platform) against the same period in 2021, a strong quarter in sales, two global operator launches, and a strong cash balance.

FINANCIAL PERFORMANCE AHEAD OF EXPECTATION

Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 33% Y/Y in Q3 2022 to €16.8 million (14.9) with a 4-year CAGR of 35%. EveryMatrix is now lapping the full Germany effect, and the strong comparable figures reflect the core business’ continuous growth.

EBITDA increased to €6.4 million (5.2) as the company continues to reinvest positive cash flow into future growth. Key investments remain U.S. expansion and the games segment of the business.

The EBITDA/Gross Profit margin was 38%, growing after successful cost control and profit growth.

RECORD GROSS PROFIT IN CASINO

The casino unit enjoys the best Gross Profit in a quarter (7.7m), with 31% YoY growth.

During Q3, EveryMatrix was awarded the public tender for “Online Casino Games as a Service” to provide the Finnish state-owned gaming and lottery monopoly Veikkaus with a vast library of casino content, including the SlotMatrix Exclusive content.

Ebbe Groes, Group CEO of EveryMatrix, says: “I am pleased to see a fantastic third quarter, with global sales performance and very good financial results. Even more important, we won two new Tier-1 clients in the quarter, Veikkaus in Finland and bet-at-home in Germany and international markets.

“EveryMatrix launched with BetMGM in the U.S. and Morroco’s state-owned lottery MDJS. The Group’s record Gross Profit across all business segments clearly underlines our strong market position.”

KEY MILESTONES IN Q3

  • Record traffic from clients on all products, surpassing a total of €100m GGR in September.
  • Live in 18 regulated markets on its own RGS, with the addition of Argentina.
  • The first U.S. client, BetMGM, went live with SlotMatrix, the Group’s casino content aggregator.
  • 2 Tier-1 client wins: bet-at-home turnkey deal and Veikkaus public tender for “Online Casino Games as a Service”.
  • Landmark launch with Morocco state lottery, MDJS.
  • Launch of our first-ever Crypto Casino project.
  • 14 New casino deals signed and 22 new client launches.
  • 11 New sports client wins and 18 new affiliate platform deals signed.
  • Secured market entry in Ontario.

In Q1 2022, the Company initiated a determined welfare support programme for its Ukrainian staff. During Q2 and Q3 2022, the Company offered continuous support to Ukrainian staff relocating abroad and large donations to supporting causes. At the period end, operations remain unaffected, and staff are now largely returning to Ukraine.

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Africa

EveryMatrix inks new casino deal with KingMakers

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EveryMatrix inks new casino deal with KingMakers
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B2B iGaming platform provider EveryMatrix signed a new 3-year partnership with leading Nigerian sports and digital entertainment platform KingMakers trading as BetKing.

Through this new partnership, KingMakers’ BetKing brand will integrate CasinoEngine, EveryMatrix’s iGaming platform, giving Nigerian players access to an ever-growing library of premium content through a single integration.

CasinoEngine will be delivered with JackpotEngine and BonusEngine to boost the gaming experience through flexible jackpot customization tools and a variety of player reward features.

Stian Enger, CEO of CasinoEngine at EveryMarrix, says: “We’re very proud of the partnership with KingMakers, one of the biggest players in the Nigerian market. This is part of EveryMatrix’s ongoing mission to expand our reach and our first entry in the Nigerian region, which means that its players can finally enjoy the content we offer thanks to the integration with CasinoEngine, BonusEngine, and JackpotEngine.

Lauren Holder, Head of Gaming at KingMakers, adds: “We are delighted to be partnering up with such a respected and successful business like EveryMatrix to provide us with a plethora of content for our Nigerian customers. We know our 3-year partnership will ensure our customers are provided with the most exciting and engaging games, and the deal will continue to solidify our ethos of being the brand where Africa Plays.”

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