EveryMatrix, a leading supplier in the iGaming industry, recently unveiled its Q1 2024 financial results, showcasing a remarkable surge in net revenue and profitability. These results not only surpass previous records but also reflect the company’s steadfast commitment to innovation and expansion across its various segments.
Financial Performance Overview:
EveryMatrix achieved a net revenue of €39 million ($42 million) during the first quarter of 2024, marking a substantial 66% increase compared to Q1 2023. Moreover, the company witnessed a commendable growth in adjusted EBITDA, soaring by 111% year-on-year to €22.3 million.
Casino Segment Expansion:
The performance of EveryMatrix’s operator partners in the casino segment surged significantly in Q1 2024, with a staggering €619 million generated, representing a robust 65% rise from the same period in 2023. Net revenue from casino operations also experienced a noteworthy upsurge, reaching €19.9 million, indicating an impressive 83% increase year-on-year.
Sports Division Success:
EveryMatrix’s OddsMatrix sports division showcased a robust growth trajectory, with net revenue escalating by 78% year-on-year to €10.5 million. Additionally, the division’s adjusted EBITDA surged by an impressive 313% to €6.2 million. This substantial growth underscores the division’s resilience and adaptability in the dynamic sports betting landscape.
Gaming Management Platform Contribution:
The Gaming Management Platform emerged as a key contributor to EveryMatrix’s Q1 2024 success, generating quarterly net revenue of €7.3 million. This platform’s performance underscores EveryMatrix’s comprehensive approach to providing innovative solutions tailored to meet the evolving needs of the iGaming industry.
CEO Perspective:
Ebbe Groes, the CEO of EveryMatrix Group, expressed profound satisfaction with the company’s Q1 2024 performance, labeling it as the “best yet.” Groes attributed this success to the combined efforts across EveryMatrix’s diverse segments, including casino, sports, platform, affiliate, payments, and live casino divisions. He emphasized the company’s strong position for sustained growth and future success.
EveryMatrix’s Q1 2024 financial results epitomize its unwavering commitment to excellence and innovation in the iGaming sector. With record-breaking revenue and profitability, coupled with promising growth across its various divisions, EveryMatrix is poised to maintain its position as a frontrunner in the industry for the foreseeable future.