EveryMatrix has underlined its credentials as the fastest growing iGaming technology supplier while hitting its highest ever quarterly profit margin.  

Revealing Q2 2024 results, the global tier-1 software provider set a record high quarterly net revenue of €42.4 million across all products, up 57% Year-on-Year (YoY), while simultaneously setting an all-time high profit margin of 59%. This is the fifth consecutive quarter where both growth and profit margin have exceeded 50%.

Q2 2024 EBITDA rose to €25.1m from €22.3m in Q1, up 67% YoY.

The bumper quarter was driven by significant customer launches, positive sports trading margins and continued growth in its core business units of casino and sportsbook. It comes just six months after EveryMatrix registered the strongest annual financial results in its history.

BUILDING ON A RECORD 12 MONTHS

The 1,000-employee strong business, that significantly bolstered its turnkey sportsbook offering with the acquisition of FSB Technology earlier this month, has experienced accelerated growth for the last six quarters with consistently strong growth across its core products of casino, sports and platform.

The FSB acquisition will further bolster OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues, cross-company synergies and establish a presence in the UK, Ireland and Africa where FSB has developed a strong market share.

Q2 2024 Gross Gaming Revenue (GGR) performance for operator partners within the Casino segment generated an eleventh consecutive record quarterly performance of €658m, up 53% YoY with GGR for the last 12 months at €2.3 billion, a 69% YoY increase.

Quarterly casino net revenue rose to €21.9m, up 73% YoY while EBITDA reached €14.7m reflecting a 93% YoY increase. The SlotMatrix aggregation product introduced a total of 1,047 unique game titles and integrated six new vendors bringing the total to 163.

OddsMatrix quarterly sportsbook turnover rose 48% YoY to €1.2bn and €4.6bn for the last 12 months reflecting a 56% YoY increase, while GGR was up 67% YoY to €95m. Net revenue for Q2 2024 reached €11.3m, up 44% YoY, while EBITDA hit €7.2m, reflecting a 65% increase.

OddsMatrix reached a record 176k live events in a single month and a total of 500k during the quarter, up 16% YoY driven by the addition of premium content, table tennis and new esports events. The average monthly number of bets placed reached 36.5m.

Platform saw second quarter net revenue rise 35% YoY to €7.8m, with EBITDA at €3.4m, up 26% YoY. The EveryMatrix Player Account Management (PAM) system beat the previous quarter with a new record 255 thousand bets per minute at peak times. The total amount of successful payment transactions reached €3.8bn, an 80% YoY increase.

The Affiliate Platform division, including PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue reach €1.4m during the quarter, up 66% YoY. EBITDA decreased -€0.15m due to continued product and commercial investment. The newly merged business unit signed a very strong 26 new customers during the quarter.

Ebbe Groes, Group CEO of EveryMatrix, said: “It’s difficult to know what to say when our results just keep getting better and better! 

“What is evident is that it’s been our best ever period of sustained growth and that the EveryMatrix effect is benefiting not just the business, but also crucially our customers, ensuring they continue to break their own records month after month. 

“The acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence to create the most powerful affiliate platform proposition available are just two great examples of how we’re continuing to build on our success and grow our customers even more. We have enormous momentum, and I can’t wait to see what happens next.” 

Q2 2024 HIGHLIGHTS

• Acquisition of FSB Technology, a full turnkey and specialist sportsbook technology provider with strong presence in the UK & Ireland and Africa
• PartnerMatrix Intelligence (formerly DeepCI) rebrand to create an all-in-one affiliate management and data tracking powerhouse under PartnerMatrix
• First US casino content aggregation partner – Live with Supremeland Gaming, Inc on DraftKings via SlotMatrix in New Jersey
• Named Casino Software Supplier and Aggregator platform at EGR Awards; SlotMatrix named Aggregator of the Year at CasinoBeats Developer Awards
• Mihnea Dobre promoted to Group Chief Technology Officer
• CasinoEngine surpasses 6 billion monthly game rounds mark and €6 billion monthly turnover
• OddsMatrix reached a record 176k live events in a single month

Read the full Q2 2024 Update on EveryMatrix.com

EveryMatrix’s flagship casino product, CasinoEngine, has smashed the 6 billion monthly game rounds mark and exceeded €6 billion monthly turnover – just months after hitting 4 billion and €4bn respectively.

CasinoEngine, the group’s casino productivity platform, surpassed both 6 billion milestones in June 2024 showing exceptional growth in the last three years and setting record profits and generating record customer revenues during that time.

This accelerated growth has been generated by a combination of significantly increasing existing customer revenues, adding new vendors and going live with new operators. This includes Veikkaus, DraftKings, Golden Nugget, Bet MGM and Rush Street with several other global and local brands due to go live in the coming months.

New innovations, such as SlotMatrix Boosters, a series of gamification tools that include customisable jackpots, tournaments, challenges and free spins have also driven game rounds and turnover.

SlotMatrix Boosters add multiple layers of additional excitement, user experience and operator revenue to every one of the 29,000+ games integrated into CasinoEngine and its aggregation product SlotMatrix.

EveryMatrix’s casino growth has risen significantly in the last three years. It took the business unit four years to go from one to two billion rounds between 2018 to July 2022 but just 11 months to go from two to four billion game rounds from July 2022 to May 2023 and just 12 months to go from four to more than six billion in June 2024.

Stian Enger Pettersen, Head of Casino, EveryMatrix, said: “The EveryMatrix effect is undeniable! We continue to smash records month on month and year after year, accelerating our customer growth faster than ever before.

“Not only do we continually showcase our expertise, knowledge, strength and leading presence in casino, but also continually look to improve our customers offerings with innovation such as SlotMatrix Boosters. This adds both multiple layers of experiences and excitement for players and creates even more opportunities for our customers.”

EveryMatrix has acquired FSB Technology, a leading global full turnkey and specialist sportsbook technology provider in an all-cash deal.

The acquisition will further bolster OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues, cross-company synergies and firmly establishes a presence in the UK, Ireland and Africa where FSB has developed strong market share.

Founded in 2007 by Sam Lawrence and David McDowell, FSB is a leading B2B sportsbook technology supplier based in London, offering full end-to-end turnkey solutions including Player Account Management (PAM), sports betting and casino platform solutions.

EveryMatrix will incorporate key FSB features into its offering, including what has been recognised as one of the strongest horse racing products among sportsbook providers.

Customers will further benefit from EveryMatrix’s superior modular products including casino, games and aggregation, payments, player account management, managed services or affiliate management and data tracking.

Once migrated to OddsMatrix, they will gain access to proven, tier-1 sportsbook and odds feeds products, as well as EveryMatrix’s technology, development and resource pipeline, decades of industry expertise within its 1,000 employee strong workforce across 13 locations worldwide and a global network of partners.

OddsMatrix has gone from strength-to-strength launching several large-scale digital projects for tier-1 brands across Europe including Bet-at-home and the Hungarian national lottery company’s (SZRT) online brand TippmixPro.

OddsMatrix achieved its best year in 2023, setting record growth, profitability and a record number of bets for tier-1 customers. It experienced a 75% Year-on-Year (YoY) rise in total bets, skyrocketing profitability up 90% while also driving live events up by a third (31%) to more than 1.8 million events for the year. With the FSB deal, this strong growth is set to continue.

Ebbe Groes, Group CEO of EveryMatrix, said: “I’m delighted to announce our purchase of FSB Technology and I’m proud of the EveryMatrix team that has been involved in making this deal happen so effortlessly.

“This is our most ambitious acquisition to date, by value, size, and complexity. There was a huge amount of internal teamwork behind the scenes to ensure this process was managed efficiently which is a great credit to everyone. Our ability to quickly transact and get this over the line so smoothly has been very impressive.

“This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate. It also allows us to accelerate this process, diversify our customer and revenue profiles, while simultaneously migrating customers to a stronger, high performing product proven to deliver exceptional results.”

Adam Smith, CEO of FSB Technology, said: “FSB has achieved a lot over the last 18-20 months including expansion into new markets and launching innovative propositions. Joining together with EveryMatrix represents another major milestone for FSB. We are delighted and excited by the new opportunities this deal could create, through the sharing of our unique capabilities as well as accelerating the growth of FSB’s existing partners.”