SBC News EveryMatrix all tech growth outperforms high Q2 expectations

EveryMatrix all tech growth outperforms high Q2 expectations

EveryMatrix maintains its ‘record high’ momentum, underlining its credentials as the igaming sector’s fastest growing technology firm.

Publishing its trading update, EveryMatrix achieved a record Q2 net revenue result of €42.4m, up 57% on year-on-year comparatives.

Q2’s peak net revenue results were generated on an ‘all-time’ high profit margin of 59% – as EveryMatrix declares its “fifth consecutive quarter where both growth and profit margin have exceeded 50%”.

Achieving growth across all technology units, EveryMatrix Q2 EBITDA stood at €25.1m from €22.3m in Q1, up 67% YoY.

Group CEO Ebbe Groes, commented: “It’s difficult to know what to say when our results just keep getting better and better!

“What is evident is that it’s been our best ever period of sustained growth and that the EveryMatrix effect is benefiting not just the business, but also crucially our customers, ensuring they continue to break their own records month after month.

A breakdown of units saw clients on the CasinoEngine platform achieve an eleventh consecutive record quarterly performance of €658m, up 53% YoY with GGR for the last 12 months at €2.3 billion, a 69% YoY increase.

Maintaining its peak wagering, casino net revenue rose to €21.9m, up 73% YoY while EBITDA reached €14.7m reflecting a 93% YoY increase. Casino performance was boosted by the SlotMatrix solution hosting a total of 1,047 unique game titles and integrated six new vendors, bringing its total to 163 available for clients.

The sportsbook segment of OddsMatrix also saw impressive results with quarterly turnover rising 48% YoY to €1.2bn and €4.6bn for the last 12 months, reflecting a 56% YoY increase. GGR was up 67% YoY to €95m, with net revenue reaching €11.3m, up 44% YoY.

OddsMatrix’s EBITDA hit €7.2m, reflecting a 65% increase. A record of 176k live events in a single month and a total of 500k during the quarter was achieved, driven by the addition of premium content, table tennis, and new esports events.

Announced during Q2 trading, OddsMatrix will be strengthened by the acquisition of FSB Tech’s turnkey systems and integration of existing clients in the UK, Ireland and Africa.

The platform segment experienced a 35% YoY increase in net revenue to €7.8m, with EBITDA at €3.4m, up 26% YoY. The EveryMatrix Player Account Management (PAM) system recorded a new high of 255 thousand bets per minute at peak times, with successful payment transactions totaling €3.8bn, an 80% YoY increase.

The Affiliate Platform division of PartnerMatrix and the newly rebranded PartnerMatrix Intelligence (previously DeepCI), saw a net revenue rise to €1.4m during the quarter, up 66% YoY. Despite a decrease in EBITDA by -€0.15m due to ongoing product and commercial investment, the division signed 26 new customers.

Moving into H2, EveryMatrix continues to demonstrate its strong growth trajectory, driven by strategic acquisitions, product enhancements, and an expanding customer base, as CEO Groes noted :The acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence to create the most powerful affiliate platform proposition available are just two great examples of how we’re continuing to build on our success and grow our customers even more. We have enormous momentum, and I can’t wait to see what happens next.”  

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