Gaming technology provider EveryMatrix has reported another record quarter as net revenue increased by 57 per cent to €42.4 million in the second quarter of 2024.
The strong performance by the privately owned company marks the fifth consecutive quarter of revenue growth of more than 50 per cent, helping Q2 EBITDA increase by 67 per cent to €25.1 million
“It’s difficult to know what to say when our results just keep getting better and better,” said EveryMatrix CEO Ebbe Groes. “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.”
Net Revenue and EBITDA Comparison Q2 2022 to Q2 2024 (€m)
| Net Revenue | EBITDA | |
| Q2 2024 | 42.4 | 25.1 |
| Q1 2024 | 39.0 | 22.3 |
| Q4 2023 | 36.2 | 20.3 |
| Q3 2023 | 27.2 | 13.7 |
| Q2 2023 | 27.1 | 15.0 |
| Q1 2023 | 23.5 | 10.5 |
| Q4 2022 | 19.4 | 6.9 |
| Q3 2022 | 16.8 | 6.4 |
| Q2 2022 | 14.9 | 5.2 |
Gross gaming revenue from the company’s Casino segment rose by 53 per cent to a record €658 million in the second quarter, generating casino net revenue of €21.9m, a rise of 73 per cent year-on-year.
Sportsbook turnover from OddsMatrix was 48 per cent higher at €1.2bn and GGR climbed by 67 per cent to €95m. Reported net revenue for the second quarter of the year was up 44 per cent at €11.3m.
OddsMatrix reached a record 176,000 live events in a single month and a total of 500,000 during the quarter, driven by the addition of premium content, table tennis and new esports events. The average monthly number of bets reached 36.5 million.
Earlier this month, EveryMatrix bolstered its turnkey sportsbook offering with the acquisition of FSB Technology, which will generate immediate additional revenues, cross-company synergies and establish an increased presence in the UK, Ireland and Africa, the company said.
EveryMatrix also reported net revenue of €7.8 million from its Platform division, an increase of 35 per cent versus the second quarter of 2023, with a record 255,000 bets per minute at peak times across its Player Account Management (PAM) system.
The Affiliate Platform division, including PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue grow by 66 per cent to €1.4m in Q2, after signing 26 new customers during the quarter.
Overall, the company set a new quarterly high profit margin of 59 per cent, helping to deliver a 67 per cent increase in second quarter EBITDA to €25.1 million. This includes €14.7 million from Casino, €7.2 million from Sportsbook and €3.4 million from Platform, which offset negative EBITDA of €0.15 million from the Affiliate Platform division.
“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,” continued Groes. “We have enormous momentum, and I can’t wait to see what happens next.”