EveryMatrix, a prominent player in the iGaming industry, has announced remarkable financial results for Q3 2023, demonstrating robust growth and performance. The company’s key statistics, including net revenue, revenue, EBITDA, and cash position, reflect its continued success in the market.
Key Financial Stats:
EveryMatrix delivered outstanding financial performance in Q3 2023, with key statistics showcasing impressive growth:
Net Revenue: €27 million, marking a substantial 62% year-over-year (YoY) increase.
Revenue: €60 million, reflecting an impressive 79% YoY increase.
EBITDA: €14 million, demonstrating a remarkable 113% YoY growth.
Cash Position: €24 million, indicating a strong financial position.
EBITDA Margin: 50%, highlighting profitability and efficient operations.
Consistent Performance:
EveryMatrix maintained its strong performance compared to the previous quarter, sustaining a net revenue of €27 million. This achievement underscores the company’s stability and resilience in the dynamic iGaming market.
Expansion and Partnerships:
EveryMatrix’s commitment to growth is evident through its strategic partnerships and initiatives. The company recently entered into an agreement with BetParx for a US multistate content aggregation deal, expanding its reach in the North American market. The deal includes access to Evolution live dealer products and other suppliers.
International Expansion:
EveryMatrix’s global expansion efforts are noteworthy. The company launched its turnkey platform and sportsbook with the Hungarian state lottery, Szerencsejáték Zrt., and successfully entered the highly regulated German market with Bet-at-home, offering a complete turnkey platform and sportsbook solution.
Industry Firsts:
EveryMatrix achieved significant milestones within the iGaming industry, becoming the first provider to attain WLA Safer Gambling certification. This highlights the company’s commitment to responsible gaming practices and player safety.
Share Buyback:
The company conducted a share buyback, repurchasing 5% of its outstanding shares, underscoring its confidence in its own growth and future prospects.
Ongoing Growth Trajectory:
EveryMatrix’s growth is consistent across multiple quarters. In Q2 2023, the company reported strong financial results, including net revenue of €27 million. The year-over-year revenue growth in Q2 2023 amounted to €56 million, an impressive 88% increase.
Segment Performance:
In Q3 2023, EveryMatrix’s casino operations contributed €13.3 million to net revenue, while the sporting division generated €6.3 million, representing a substantial 29% increase in net revenue year-over-year. The platform net revenue also saw remarkable growth, reaching €6.3 million, an 87% increase compared to Q2 2022.
Strong Cash Position:
In Q2 2023, EveryMatrix reported a substantial cash position of €34 million, signifying a 76% increase from the €19.3 million reported in Q1 2023. This strong financial foundation supports the company’s expansion and development efforts.
Portfolio Expansion:
EveryMatrix’s commitment to diversification and innovation is evident through various acquisitions and launches. The company acquired DeepCI, launched its LotteryEngine solution in Malta, and secured a new B2B software license on the Isle of Man, further strengthening its presence in the iGaming sector.
EveryMatrix’s impressive Q3 2023 financial results underscore the company’s consistent growth and performance in the competitive iGaming industry. With a strong financial position, strategic partnerships, and a commitment to responsible gaming, EveryMatrix is well-positioned for sustained success and continued expansion in the global iGaming market.