EveryMatrix‘s Q1 numbers were up 21% quarterly and 69% year-on-year to €23.5 million ($25.9 million).
The increase in Q1 revenue led to record profits. EBITDA increased by 119% to €10.5 million, with a three-year compound annual growth rate of 39%. Additionally, EBITDA, or net income margin, increased to 45% due to cost control and growth.
EveryMatrix’s casino business unit produced a record quarterly gross gaming revenue (GGR) performance for partner operators, producing €374 million, a 77% increase from the same period in 2022.
Ebbe Groes, CEO of EveryMatrix Group, said: “This year is all about delivering and going above and beyond for our global customers. We have several large-scale projects underway, including a platform migration and a new sportsbook for the Bet-at-Home, with Germany coming soon and the launch of the Hungarian lottery’s new digital sports offering later this year.”
EveryMatrix reported net income of €10.8 million, up 84% and 52% higher than the previous quarter’s record.
Net income in sports increased by 29% to €5.9 million compared to last year. The platforms segment, which supports the casino and sports betting business units, registered a net revenue increase of 97% compared to the previous year and a record EBITDA contribution of 3.4 million euros.
About EveryMatrix
Established in 2008, EveryMatrix is one of the world’s most recognized B2B technology providers to the industry. The company employs more than 530 people in nine countries: Malta, Romania, Ukraine, Spain, Armenia, Norway, China, Thailand and now also in the United States.