EveryMatrix rides high in Q3, boosted by acquistions

EveryMatrix’s success story is most easily recounted through its financial results. Every three quarters, for six consecutive quarters now, the company has posted a profit margin exceeding 50%, with the company citing major casino and sports acquisitions as one of the reasons why it is enjoying sustained growth.

EveryMatrix is on a tear in a sixth consecutive quarter of strong profit margin

This double-digit growth story would surely come to an end, but nothing in the company’s current performance suggests that this time is even close.

The company bought out both FSB Technology in June and Fantasma Games in October in all-cash transactions, demonstrating its robust financial standing, with net revenue hitting €45m across all of its products in the third quarter, a 66% increase.

In the meantime, the company’s EBITDA also performed better, with a margin of 52%. EBITDA itself was set at €23m by the company in the update, an increase of 71% on annual terms.

The gross gaming revenue in Q3 for the company’s casino business unit reached €709m, which was 53% higher year-over-year. FSB Technology has added 15% of additional GGR to the group’s sportsbook, EveryMatrix said., not least thanks to a partnership with BetGoodwin, a UK operator which has tapped the company’s sports and casino tech.

Similarly, the acquisition of Fantasma Games was also hailed as another performance-enhancing event for the company, which said that thanks to this move, EveryMatrix will be able to secure further reach in the North American iGaming market which is bound to continue growing over the coming months and years.

Casino net revenue hit €23.8m, up 78% year-over-year. OddsMatrix reported a sportsbook turnover of €1.5bn in the third quarter, with the full year’s turnover now sitting at a whopping €5.3bn.

EveryMatrix celebrates a quarter filled with achievements

Platform gave the company’s third largest net revenue rise at €8.1m which was a 30% year-over-year gain. The company had much to be boastful about, having secured a number of important partnerships.

It teamed up with Mbet in Africa following the FSB acquisition post-period. It secured further development capabilities in Stockholm, Sweden and Sofia, Bulgaria thanks to the Fantasma Games acquisition, and it launched its proprietary casino platform tech with Pinnacle, one of the world’s best-known and highly trusted sports and gaming operators.

Not least, EveryMatrix secured a Multi-channel Supplier of theYear at the SBC Awards and Starlet Awards.

Image credit: EveryMatrix