EveryMatrix Press Releases
EveryMatrix delivers record financial performance in 15-year history
B2B iGaming technology provider announces both record quarter and record annual results for 2022.
EveryMatrix’s Q4/end of year update shows record financial performance and Gross Profit ahead of expectations across all business segments (Casino, Sports, and Platform) since it was founded 15 years ago, achieving its second largest signed contract alongside a positive sales pipeline and strong cash balance.
RECORD FINANCIAL PERFORMANCE AHEAD OF EXPECTATIONS
Annual Gross Profit (Gross Revenue less direct costs to game suppliers) increased by 26% Y/Y in 2022 to €65 million (51.3) while Q4 Gross Profit rose by 39% Y/Y to €19.4m with a 3-year CAGR of 40%.
Strategic diversification and a broad client base of more than 200 global customers saw EveryMatrix further diminish the impact German regulation had on Gross Profit in the Casino segment with strong comparable figures reflecting the core business’ continuous growth.
Excluding Germany, Group Gross Profit for the rest of the world increased by 43% Y/Y and 113% between Q4 2020 and Q4 2022.
Every month of 2022 from March onwards recorded higher Gross Profit results, with November the first €6m month and December the first €7m month.
The company also achieved its best year for sales signing 149 new deals worth more than €25m per year, including 14 turnkey, 18 tier-1, and 7 U.S. contracts.
Annual 2022 EBITDA increased by 23% Y/Y to €23.3m with quarterly EBITDA rising 81% Y/Y to €6.9m. EBITDA/Gross Profit margin was 36% for the year.
Net Cash grew from €21.1m at the end of Q3 2022 to €24.1m in Q4 2022 while still paying dividends in December. The Company is reinvesting positive cash flow into future growth and remains debt-free.
Ebbe Groes, Group CEO of EveryMatrix, says: “It has been a phenomenal year on so many levels with records broken in every area of the business and every business unit contributing to our best 12 months yet. Equally pleasing is that we foresee this strengthening with several imminent landmark tier-1 launches in Sports, Casino and Platform set to contribute to even greater success and enabling us to continue to invest in future growth.
“This could not have been achieved without the extraordinary effort, expertise and energy that our teams and individuals across multiple global locations have consistently shown throughout 2022, with a very special mention to our friends and colleagues in Ukraine who we are committed to unconditionally supporting at all costs.”
SIGNIFICANT SPORTS & CASINO GROWTH
The final quarter of 2022 was of particular significance to the Sports segment with a big tier one win for the OddsMatrix team. EveryMatrix beat 25 bidders to win the tender for the Hungarian lottery company, Szerencsejáték Privately Held Company Limited, providing it with an end-to-end suite of advanced digital sports betting software solutions and services for its online brand TippmixPro.
This bolstered what was already a good year due to the earlier signing of German-focused operator bet-at-home to replace its existing platform with EveryMatrix technology.
The Casino segment reported yet another record quarter with record Gross Profit of €8.9m, 43% Y/Y growth. Casino is expected to continue this strong growth trajectory in 2023 with further investment within the commercial team.
KEY MILESTONES IN Q4
- 28 new client wins signed across all products
- Won Hungarian Lottery tender ahead of 25 competing bids taking EveryMatrix to six WLA customers – second largest win in deal value in the company’s history
- Szerencsejáték Privately Held Company Ltd will benefit from turnkey online technology – first WLA win with sports as the key product
- CasinoEngine deal agreed with Kingmakers, leading operator in Nigeria
- Live with first U.S. customer BetMGM; obtained licensing in Michigan, third U.S. state after West Virginia and New Jersey
- Continuing to support our Ukrainian staff; operations remain unaffected
In Q1 2022, the Company initiated a welfare support programme for its Ukrainian staff. From Q2 2022 onwards the Company has offered continuous support to Ukrainian staff and large cash donations to supporting causes exceeding EUR 700,000 for the year. At the period end, operations remain unaffected, and most exiled staff have returned to Ukraine.
EveryMatrix Press Releases
Bang Bang Games joins SlotMatrix RGS
B2B iGaming platform provider EveryMatrix has announced a new SlotMatrix RGS partnership with boutique games studio Bang Bang Games.
Bang Bang Games joins the growing roster of SlotMatrix Exclusive Partners, adding its portfolio of unique slot content to the world’s largest collection of real money games.
Founded in 2020 by a trio of experienced and passionate industry experts Bang Bang Games is known for its easy to play, adrenaline-fuelled action, focus on strong mechanics and math with supercharged bonus features and maximum win potential.
Ashley Bloor, Head of Operations RGS Games at EveryMatrix, said: “Bang Bang Games is a studio with distinctive content that players love and with huge potential to create even more smash hits in the future. Our partners will have access to all this content providing them an even more diverse range of titles exclusively available via SlotMatrix.”
Frank McPolin, Managing Director, Bang Bang Games, added: “We’re delighted to join forces with the EveryMatrix team which will provide us with a fantastic route to market and provide the world’s leading brands with access to our content.
“Our games feature big, bold designs that focus on the mechanic and the math, and presentation that ramps up the adrenaline when the wins start flowing. At Bang Bang Games we make explosive games for serious players.”
EveryMatrix Press Releases
Tor Skeie appointed new OddsMatrix CEO
Tor Skeie has been appointed CEO of OddsMatrix, EveryMatrix’s leading sportsbook division.
Skeie will be responsible for the EveryMatrix sports business unit that has grown considerably in the last year, recording 28% Year-on-Year gross profit growth in 2022.
OddsMatrix won several high-profile clients in 2022 including Bet-at-home that replaced its legacy platform with EveryMatrix technology and beating 25 competitors to win the tender for the Hungarian lottery, providing it with an end-to-end suite of advanced digital sports betting software solutions and services for its online brand TippmixPro.
OddsMatrix has specialist staff including 150 developers, traders, commercial team and a dedicated 24/7 support team.
The new OddsMatrix CEO has more than 20 years’ betting and gaming experience with a specific focus on technology development and delivery, founding several technology businesses including one of the industry’s first peer-to peer betting exchanges in 2001.
In 2013 Skeie founded front-end solutions business TOTOIT, a Thailand-based development company that was acquired by EveryMatrix in October 2020. TOTOIT specialised in building bespoke websites, intranet/extranet design, and custom programming, using the latest technologies and frameworks.
The business has since been integrated within EveryMatrix’s front-end division that works with clients to build outstanding websites tailored to their unique value proposition with Skeie leading front-end product development since the acquisition.
The OddsMatrix Sports Betting Software Solutions features competitive sports and esports coverage, real-time and reliable betting data, unrivalled number of markets and industry-leading accuracy. From sportsbook platform to data feeds, customers can leverage the OddsMatrix solutions in full or select elements that best suit their requirements.
Ebbe Groes, CEO, EveryMatrix, said: “Myself and many of the leadership team have known Tor for many years and he has been an excellent addition to the business since acquiring TOTOIT. As a result, we have better delilery on the sports front end today than we have ever had, happier clients and improved performance.
“Tor has played a big role in this, and his management, leadership and client interface skills will help us build further momentum and tier-1 client growth for OddsMatrix.”
Tor Skeie, CEO, OddsMatrix, said: “It’s a great thrill to lead the sports business unit and to continue to build on the brilliant work the team have done in making OddsMatrix one of the fastest growing and most reliable sportsbook platform solutions offerings in our industry.
“I look forward to continuing to deliver a second-to-none service for both new and existing clients, ensuring maximum stability and performance and delivering a roadmap of new, innovative features that will take us and our partners to the next level.”
Vahe Khalatyan steps up as PartnerMatrix CEO
PartnerMatrix, an award-winning affiliate software provider in the iGaming industry, is proud to announce the appointment of Vahe Khalatyan, previously PartnerMatrix Chief Technical Officer, as its new CEO.
Since day one, Vahe has played a crucial role in the development and success of PartnerMatrix in the last eight years, proving to be a key asset and leader within the team.
His appointment follows the recent departure of previous CEO and co-founder Levon Nikoghosyan who left the business to pursue his own personal projects.
Vahe Khalatyan, CEO of PartnerMatrix, said: “I am excited to take on this role and lead PartnerMatrix into the future. I have been with the company since day one and have developed a deep understanding of its operations and the market.
“In 2023 we will continue to lead the way in iGaming affiliate marketing and focus on new tools and updates for affiliate security, providing a bespoke approach to every client.”
Ebbe Groes, CEO of EveryMatrix, added: “Vahe takes over the position with a wealth of knowledge about the company and the industry and has some exciting, innovative ideas he will implement in the months to come.
“This is a significant step, both for Vahe and PartnerMatrix, and I’m delighted he has stepped up. This is fully deserved and I’m confident his efforts, ideas, and skills will continue to bring great success to the company and the group.”
PartnerMatrix was awarded Best Affiliate Software at the EGR B2B Awards 2022, demonstrating its commitment to providing the best solutions in the industry. Under Vahe’s leadership, the company will continue to innovate and provide exceptional services to its clients in the iGaming sector.
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