EveryMatrix, the prominent iGaming technology provider, has achieved a remarkable feat by reaching a record quarterly high in Q1 2024. The company demonstrated substantial revenue growth and profitability, with net revenue totaling €39 million, marking a staggering 66% Year-on-Year increase. Furthermore, EveryMatrix recorded a quarterly profit margin of 57%, setting a new milestone for the organization. This remarkable performance marks the fourth consecutive quarter where both growth and profit margin have exceeded 50%.
Starting the year on a high note, EveryMatrix’s financial success stems from various key factors. The company has secured significant client signings, launched new clients across all core business units, observed robust growth in sports trading and innovation, and continued to expand in the casino sector. Moreover, EveryMatrix attained regulatory accreditation in Peru early in the year, making significant strides in the US market by launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey.
The company’s Casino and Sports divisions have been particularly noteworthy, with the quarterly Gross Gaming Revenue for the Casino segment reaching €619 million in Q1 2024, showcasing a remarkable 65% Year-on-Year increase. The performance for the last 12 months was equally impressive, with GGR totaling €2.1 billion, reflecting a substantial 78% Year-on-Year growth. Additionally, the OddsMatrix sports division witnessed a 31% Year-on-Year increase in turnover, reaching €1.3 billion, with a noteworthy climb in GGR to €96 million.
The platform segment also demonstrated positive growth, with quarterly net revenue surging to €7.3 million, marking a 28% Year-on-Year increase. The EveryMatrix Player Account Management (PAM) system achieved a significant milestone of 230k bets per minute at peak times, underscoring the company’s technological prowess and market reach. Additionally, the Affiliate Platform division, inclusive of PartnerMatrix and DeepCI, experienced impressive growth, with net revenue rising to €1.4 million and signing several new clients.
Ebbe Groes, the Group CEO of EveryMatrix, expressed utmost satisfaction with the company’s performance, highlighting the relentless pursuit of innovation and growth across all business verticals. The CEO emphasized the positive trajectory of EveryMatrix and predicted a promising future for the organization in 2024 and beyond.
In conclusion, EveryMatrix’s Q1 2024 results reflect a period of exceptional growth and achievement for the company. With a strong focus on technology, innovation, and customer-centric solutions, EveryMatrix continues to set new benchmarks in the iGaming industry, positioning itself as a leader in the market. Watch out for more groundbreaking developments from EveryMatrix in the coming months!