EveryMatrix reports 66 percent increase in revenue in first quarter

May 13, 2024 8:00 PM
  • Mia Doyle, Special to CDC Gaming Reports
May 13, 2024 8:00 PM
  • Mia Doyle, Special to CDC Gaming Reports

Igaming and sports betting software provider EveryMatrix has reported €39 million ($42m) in net gaming revenue in the first quarter, up 66 percent compared to the first quarter of 2023 and a new record.

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Last quarter, EveryMatrix reported a record-breaking net gaming revenue of €36 million.

The company also reported a record-breaking 57 percent profit margin for the first quarter, the fourth-straight quarter in which growth and profit margin were above 50 percent. EBITDA reached €22.3 million ($24 million), up 111 percent year over year.

Many factors contributed to this quarter’s success, including large-value client signings and new launches across core business units. EveryMatrix partnered with Supremeland Gaming to distribute its games in New Jersey and launched content with Entain, Golden Nugget and DraftKings. Operator partner performance generated €619 million ($668 million), up 65 percent from first quarter 2023.

EveryMatrix filled several senior roles in the first quarter, including CEOs of MoneyMatrix and PlayMatrix, as well as chief commercial officers for PlayMatrix and PartnerMatrix.

“It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best,” said Ebbe Groes, Group CEO of EveryMatrix. “It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond.”