EveryMatrix, a prominent B2B iGaming provider, has delivered impressive financial results for the second quarter of 2023. The company reported a substantial year-on-year increase in revenue, reaching €56 million, representing an 88% growth compared to Q2 2022’s figure of €30.1 million. Net revenue for the quarter stood at €27 million.
Breakdown of Revenue Streams:
EveryMatrix’s casino operations contributed significantly to its net revenue, generating €12.6 million.
The sports division also posted robust performance, with net revenue totaling €7.8 million, marking a substantial 79% increase year-on-year.
Platform net revenue reached €6.7 million, showing an impressive 85% growth compared to Q2 2022.
Net Revenue and EBITDA Growth:
The company’s overall net revenue surged by 82% annually, totaling €27 million, compared to €23.5 million reported in Q1 2023.
EveryMatrix recorded a remarkable year-on-year increase of 188% in EBITDA, reaching €15 million.
The EBITDA margin exhibited steady growth, with Q2 2023 registering a 55% margin compared to Q2 2022’s 35%.
The Q1 2023 report marked a significant milestone as it recorded the highest EBITDA figure of €10.5 million in the company’s history.
Improving Cash Position:
EveryMatrix’s cash position improved significantly in Q2 2023, with a total of €34 million, compared to €19.3 million reported in Q1 2023.
Notable Achievements:
During Q2 2023, EveryMatrix achieved several significant milestones, including the acquisition of DeepCI and the launch of its LotteryEngine solution in Malta.
The company was granted a new B2B software license on the Isle of Man, further expanding its market presence and capabilities.
EveryMatrix’s robust financial performance in Q2 2023 underscores its position as a leading B2B iGaming provider. The substantial revenue growth, impressive EBITDA figures, and strengthened cash position reflect the company’s dedication to delivering innovative solutions and expanding its global presence. With notable achievements and a positive outlook, EveryMatrix continues to thrive in the competitive iGaming industry.