EveryMatrix maintains international momentum as Q2 profit rises 17%

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.

Central to the group’s commercial success were 43 deals signed across its product range during the quarter, including four tier-1 clients such as the National Lottery of Malta in Europe and 888casino and BetMGM in the US.

Ebbe Groes, EveryMatrix Group CEO, said: “Driven by our diverse product offering and  strong client base, we saw yet another record number of new client wins in the quarter with 43 deals signed across all products. 

“Furthermore, a 17% increase in Gross Profit, the best reflection of the underlying performance of the Group, allows us to continue to invest in our future growth.”

Additional highlights from the quarter saw an additional two clients secured in Germany and Romania via the CasinoEngine platform, whilst SlotMatrix supported launches of 54 new brands across multiple markets. 

Of particular significance to Groes was the firm’s ‘landmark agreement’ with German sportsbook Bet-at-home, which is replacing its existing proprietary platform with EveryMatrix’s own product range, including the OddsMatrix sports platform.

The CEO remarked: “The constant investment and development in OddsMatrix have been at the core of what we do for many years, and I’m happy to see more  Tier 1 operators joining our client list.”

Finally, in a further boost to OddsMatrix, EveryMatrix was able to strengthen the product’s capabilities via its finalised acquisition of Leapbit, incorporating its new holding’s retail-focused software solution as well as virtual horse racing and lottery games.

“OddsMatrix is one of the company’s three pillars and is growing at a tremendous rate already,” Groes commented.

“Retail is a big component of any comprehensive sports betting suite, and by integrating Leapbit’s technology, we will take OddsMatrix to become a leader of true omnichannel sports in regulated markets.”

SBC News EveryMatrix maintains international momentum as Q2 profit rises 17%

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