EveryMatrix CEO Ebbe Groes has praised the B2B gaming firm’s “phenomenal” FY2022 after achieving record annual results.
Publishing its Q4 and end of year update on its website, EveryMatrix has reported a record gross profit of €65m, an increase of 26% year-on-year (FY2021: €51.3m). This was aided by a 39% rise in its Q4 gross profit to €19.4m with a three-year CAGR of 40%.
Excluding Germany, group gross profit for the rest of the world increased by 43% YoY and 113% between Q4 2020 and Q4 2022.
Furthermore, every month of 2022 from March onwards recorded higher gross profit results, with November the first €6m month and December the first €7m month.
Q4 proved to be a significant period for the company as its bid for the Hungarian National Lottery company – Szerencsejáték – proved successful.
EveryMatrix overcame 25 rival bidders over a 15-month procurement process to be awarded the public tender for the state-owned gaming and lottery operator, aided by its pledge of ‘transforming’ a company that offers multiple products including lottery games, lottery tickets and sports betting.
This was the firm’s second largest win in deal value in its history, and it took their WLA membership number to six.
“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,” said Groes. “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.”
EveryMatrix further highlighted that FY2022 was its best year for sales, signing 149 new deals worth more than €25m per year, including 14 turnkey, 18 tier-1, and 7 US contracts.
Furthermore, annual EBITDA increased by 23% YoY to €23.3m with quarterly EBITDA rising 81% YoY to €6.9m. EBITDA/gross profit margin was 36% for the year.
Finally, net cash grew from €21.1m at the end of Q3 to €24.1m in Q4 while still paying dividends in December.