EveryMatrix, a B2B iGaming technology provider, has reported a seventh straight record quarter with a profit margin of 55%, making it one of the most profitable tier-1 suppliers in the market as of to-date. EveryMatrix Q2 2023 Results
The business achieved a seventh consecutive record quarter with net revenue of €27 million and EBITDA of €15 million, up 82% and 188%, respectively, year over year (YoY) and up 15% and 42% quarter over quarter (QoQ). This is according to EveryMatrix’s Q2 2023 update.
EveryMatrix’s highest ever quarterly profit margin, the EBITDA/Net Revenue margin increased from 45% in Q1 2023 to 55% in Q2 2023 as a result of robust growth and effective cost control.
More Profit Records from Everymatrix
EveryMatrix Casino products have continually demonstrated to be the catalyst for the accelerated expansion of numerous worldwide tier-1 brands, resulting in yet another record-breaking quarter for all business categories.
EveryMatrix generated €432 million, a rise of 86% YoY compared to the same period in 2022 and 16% more than the previous quarter, setting a record quarterly Gross Gaming Revenue (GGR) performance for operator partners within its Casino business segment.
Casino Net Revenue also broke records, reaching €12.6 million for the quarter, an increase of 83% over the same time previous year.
EveryMatrix’s market-leading productivity platform, CasinoEngine, surpassed 4 billion monthly game rounds for the first time and produced a monthly revenue of €4 billion.
Sports Net Revenue for the quarter increased 79% as compared to the same period in 2022, and the Sports business unit generated €57 million in GGR, a YoY increase of 137%.
EveryMatrix’s Platform business unit achieved an 85% year-over-year increase in net revenue as customers reached peak rates of more than 90,000 bets per minute. At the same time, several significant clients were switched over to the company’s entirely redesigned and incredibly scalable wallet service.
Acquisition of DeepCI by EveryMatrix
On July 1, EveryMatrix purchased DeepCI, a cutting-edge, data-driven affiliate optimisation tool for betting and gaming.
With the ability to identify each gaming brand on each page of every website, DeepCI’s patented technology monitors tens of thousands of affiliate sites globally. In addition to giving operators meaningful tips, this enables it to determine the amount of exposure each brand receives and how effective it is on each site, page, and market. Some of the biggest betting and gaming companies in the world, such as bet365, 888.com, Betway, and Betsson, use its services.
The program enables gaming companies to monitor their own performance as well as that of their rivals and make quick, profit-generating optimization decisions. DeepCI has already achieved profitability as a result of its amazing expansion. EveryMatrix Q2 2023 Results
EveryMatrix has incorporated the DeepCI team, and CEO Lewis Civin is now running the company as a separate division of the Group.
This business, and our team of more than 750 people across 12 countries, continue to amaze me every day generating consistent, record growth and profitability for our customers who continue to benefit from the industry’s best casino, sports, and platform products.
Our mission this year centres around our relentless drive to deliver the highest quality technology and services for our customers, and a seventh record quarter in a row proves we are firmly on course to achieving our goals.
Our acquisition of DeepCI shows we are constantly looking to add complementary and innovative technology to our existing offering. Alongside our PartnerMatrix business unit this game-changing technology will create even more value for our clients and I’m excited with what more we can achieve in the quarters to come.said Ebbe Groes, Group CEO of EveryMatrix.
EveryMatrix’s Q2 2023 Key Achievements
- 26 new contracts were inked across 8 markets.
- 2win.mk, EveryMatrix’s sixth World Lottery Association/European Lotteries customer, was signed up with the sportsbook OddsMatrix.
- The Malta National Lottery is using LotteryEngine live with its first client to power omnichannel ticket sales.
- Addition of 50+ new customers through the acquisition of DeepCI
- DraftKings and WynnBet Live with EveryMatrix in the U.S
- To protect North American consumers from betting-related fraud and corruption, OddsMatrix data feeds agree to a collaboration with the U.S. Integrity.
- 80 new staff members throughout the quarter brought the total to 750+ across 12 countries.
EveryMatrix provides worldwide Tier 1 operators and emerging brands with iGaming software, solutions, content, and services for sports betting, casino games, payments, and affiliate management. The platform’s high degree of modularity, scalability, and compliance enable operators to mix third-party and internal technologies and capabilities with the best EveryMatrix solution.
EveryMatrix gives companies the tools they need to create innovative solutions and provide top-notch player experiences in regulated markets. The business services more than 300 customers globally, including the regulated U.S. market, and employs 750 people in 12 different countries.
EveryMatrix is a member of iDEA Growth in the United States, the World Lottery Association, and the European Lotteries Association. EveryMatrix Q2 2023 Results