Momentum has continued for EveryMatrix, as the sports betting and casino solutions supplier reported yet another quarter of record breaking revenues in Q2.
Headquartered in Malta, EveryMatrix provides its solutions to prominent lottery operators across Europe. Clients include Hungary’s Szerencsejáték, OPAP, Malta Lotteries, Veikkaus and Norsk Tipping, and is certified by the World Lottery Association (WLA).
The company’s Q2 revenue grew 82% year-on-year and 15% quarter-on-quarter to €27m, generating its ‘highest ever profit margin’ of 55% and Q2 EBITDA of €15m, an increase of 15% on Q2 2022 and 42% on Q1 2023.
Sports betting services are one of EveryMatrix’s flagship products for lottery operators, such as providing the sportsbook for Szerencsejáték. This side of the business continued to record growth, with GGR of €57m and net revenue up 79% to €2.4m.
The firm explained that its “platform business unit saw a Net Revenue rise of 85% YoY with clients reaching more than 90,000 bets per minute during peak time while simultaneously migrating several major customers to its completely rewritten and ultra scalable wallet service”.
Ebbe Groes, Group CEO of EveryMatrix, said: “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.”
Meanwhile, casino net revenues stood at a record Q2 result of €12.6m for the quarter, 83% higher than the same period last year, driven by an increase in gaming revenues of 86% to €432m across its portfolio of B2B partnerships. Ultimately, the casino segment was recognised as the ‘primary growth driver’ for the company.
The group’s CasinoEngine platform generated a “monthly turnover of €4bn and surpassed four billion monthly game rounds” for the first time in Q2.
Moving into H2, EveryMatrix has finalised its acquisition of DeepCI, a data-centric service for optimising sports betting campaigns and affiliate partner performances.
DeepCI’s technology evaluates global affiliate sites, providing insights on brand visibility, and already services the tier1 operators of bet365 and Betway. Post-acquisition, the DeepCI team, led by CEO Lewis Civin, seamlessly integrated into EveryMatrix as a distinct unit.
“Our acquisition of DeepCI shows we are constantly looking to add complementary and innovative technology to our existing offering,” Groes continued.
“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.”