EveryMatrix hails Q3 results amid landmark tier-1 projects

EveryMatrix, a company that specializes in delivering iGaming and sports betting software and solutions, has revealed the numbers for the third quarter of business in 2023, revealing a long string of tier-one partnerships and achievements that have resulted in commercial success.

EveryMatrix exited the third quarter on a very high note, as confirmed by its Group CEO, Ebbe Groes, who said:

"Everyone’s hard work has paid off this quarter with yet another very strong period of organic growth and profitability that has seen us accomplish some major milestones and launch significant tier-1 projects."

Amongst the company’s most significant milestones are the World Lottery Association Safer Gambling certification, and the company’s close work with bet-at-home, which allowed the operator to transfer to the supplier’s full tech stack in Germany.

Both events have had an impact on the company’s bottom line, strengthened also by an aggregation agreement with betPARX in the United States and the Hungarian national lottery brand, TippmixPro.

Particular attention has been paid to the delivery of the turnkey solution to bet-at-home, which was lauded for its complicated nature, and yet – flawless execution.

"Both clients have recognized the demanding nature of this migration and integration and have been glowing with praise for our work," Groess added talking about bet-at-home and the Hungarian lottery brand in the official statement.

As for actual financial figures, EveryMatrix posted net revenue of €27.2m during the quarter, which was a 62% gain on a year-over-year basis. Gross Gaming Revenue (GGR) for operator partners was also much better in the Casino business unit, the company reported, driving €463m, up 77% on year-over-year basis.

Sports contributed another €35m in GGR, a 26% gain on an annual basis. The company’s platform division drove another €6.3m this time in terms of net revenue, and still a remarkably 87% jump on an annual basis.

The company’s Affiliate Platform division posted modest results in comparison, reaching net revenue of only €1.2m, but still almost doubling its business – up 48% from a year earlier. The Affiliate Platform also includes both DeepCI (which was recently acquired), and PartnerMatrix.

EveryMatrix was able to grow its workforce to more than 850 people across 12 countries during the quarter, and again hailed the significance of the multistate content aggregation partnership with betPARX. The company also remains in a strong cash position with a balance of €24m, the report added.

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