EveryMatrix maintains international momentum as Q2 profit rises 17%

EveryMatrix maintains international momentum as Q2 profit rises 17%

Article brief provided by SBC News
  • Ted Orme-Claye, SBC News
September 20, 2022 10:14 PM
Updated: September 29, 2022 8:14 PM
  • Ted Orme-Claye, SBC News
  • United Kingdom
  • Sports Betting
  • Suppliers

Expressing confidence in its global growth strategy, EveryMatrix has lauded product diversification and a broad client base as factors behind an 17% increase in Q2 profit.

The Malta-headquartered B2B sportsbook supplier reported total gross profit rose year-on-year to €14.9m (Q1 2021: €12.7m), with a four-year compound annual growth rate (CAGR) of 35%. Total revenue , meanwhile, grew by 41% to €30.1m ($30m) form the previous quarter.

EBITDA remained steady at €5.2m, the same as the previous year, alongside margin of 35%, whilst net cash increased from €11.1m to €15.2m – EveryMatrix aims to use positive cash flow to ensure zero debt whilst reinvesting in future growth prospects.