EveryMatrix has confirmed its status as the fastest growing iGaming technology supplier recording consecutive quarterly profit margin figures above 50%. 

EveryMatrix’s Q3 2023 update shows consistently strong growth and profitability with Net Revenue of €27.2 million and EBITDA of €14m, up 62% and 113% respectively Year-on-Year (YoY). This is the third consecutive quarter with organic Net Revenue growth above 50%.

EBITDA/Net Revenue was at 50% compared to 38% for the same period in 2022 – the second consecutive quarter above 50%.

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MULTIPLE MAJOR MILESTONES

EveryMatrix has achieved multiple milestones both this quarter and post-period including in September becoming the first iGaming supplier to receive World Lottery Association Safer Gambling certification, pledging an organisation-wide commitment to integrating and raising safer gambling standards across its business, culture, products, and partners.

Post-period in October key tier-1 turnkey projects went live with bet-at-home.de and the Hungarian national lottery’s online brand TippmixPro, plus a first multistate content aggregation agreement in the US regulated market with operator betPARX.

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BUSINESS UNITS CONTINUE TO ACCELERATE

EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino business unit continued to grow generating €463m, an increase of 77% YoY compared to the same period in 2022.

Casino Net Revenue set a successive quarterly record, rising to €13.3m, 74% higher YoY.

Sports generated €35m in GGR, a YoY rise of 26%, while quarterly Net Revenue reached €6.3m, up 29% YoY.

Platform saw Net Revenue reach €6.3m, up 87% YoY, while the Affiliate Platform division, that includes PartnerMatrix and new acquisition DeepCI, saw Net Revenue grow to €1.2m, up 48% YoY.

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From this quarter onwards EveryMatrix will report the Affiliate product segment separately from Platform, which consists mainly of the GamMatrix PAM and the MoneyMatrix payments platform products.

DeepCI currently services more than 280 brands across 65 iGaming companies and is one of the fastest growing technology businesses in the iGaming affiliate sector enabling brands and affiliates to significantly boost and optimise their day-to-day operations.

Ebbe Groes, Group CEO of EveryMatrix, said: “Everyone’s hard work has paid off this quarter with yet another very strong period of organic growth and profitability that has seen us accomplish some major milestones and launch significant tier-1 projects.

“bet-at-home.de and SZRT have arguably been the most complex technical and regulatory undertakings we have ever achieved in the 15 years since we began, but we have delivered extensive turnkey projects with flying colours and the involvement of almost every EveryMatrix business unit. More importantly, both clients have recognised the demanding nature of this migration and integration and have been glowing with praise for our work. This fills me with pride and confidence for our future growth.

“Positive and social impact, however, is also proven to drive a sustainable and profitable business so I was particularly proud in September when the business became the first supplier to achieve WLA Safer Gambling Certification. This sees us commit to consistently implementing high standards of safer gambling and player protection across the entire business in everything we do, and I look forward to building on this as we head towards 2024.”

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KEY Q3 2023 & POST-PERIOD MILESTONES

• EveryMatrix became the first iGaming supplier to receive World Lottery Association (WLA) Safer Gambling Certification (Q3)
• Maintained a strong cash position with a balance of €24m at period end (Q3)
• Total employee count rose to 850 across 12 countries (Q3)
• Bet-at-home.de live in Germany, completing the migration of 5.7m players across its global business and the integration of EveryMatrix full tech stack (post-period)
• Live with the Hungarian Lottery with OddsMatrix-powered sportsbook and services enabling its players to safely enjoy advanced digital betting experiences (post-period)
• First US multistate content aggregation deal with betPARX presenting the operator with the largest library of casino games in the country (post-period)

The Hungarian national lottery company, Szerencsejáték Privately Held Company Limited (SZRT), has gone live with OddsMatrix-powered sportsbook and platform services enabling the country’s residents to safely and responsibly enjoy 21^st century digital betting experiences.

EveryMatrix was awarded the public tender in January 2023 to provide the Hungarian state-owned gaming and lottery operator with an end-to-end suite of advanced digital sports betting software solutions and services for its online brand TippmixPro.

Designed to create the ultimate online sports betting experience in the newly regulated market, the multi-year agreement was awarded to EveryMatrix after a 15-month competitive procurement process with more than 25 bidders.

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SZRT is a member of the World Lottery Association (WLA) and the sports betting market leader in Hungary. Its new OddsMatrix-powered sportsbook will drive the brand to new levels, giving both new and existing customers the opportunity to experience features including Cash Out and Bet Builder, alongside promotions such as Stake-Back Special, for the first time.

This was one of the company’s most complex integrations to date involving multiple teams including GamMatrix, EveryMatrix’s platform unit. GamMatrix purpose-built a range of project-critical operational and safer gambling features including rapid, multi-step registration and a comprehensive array of self-exclusion functionality in line with specific SZRT and regulatory requirements.

SZRT will benefit from decades of experience within EveryMatrix’s trading, product, and account management teams as well as harness the power of its PartnerMatrix affiliate system.

At the core of the new sportsbook lies the highest standards of responsible gambling. Accessible through desktop and mobile web browsers, in addition to native Android and iOS apps, it features proprietary models that generate industry-leading market uptime, an AI-driven content concierge that curates and serves tailored recommendations, and a revolutionary promotions engine designed to enhance player retention and reactivation.

In September 2023 EveryMatrix became the first iGaming supplier to receive WLA Safer Gambling Certification.

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Ebbe Groes, CEO, EveryMatrix, said: “We are delighted to have gone live in Hungary with our valued partners SZRT. This is just the beginning of a relationship filled with endless possibilities with both sets of dedicated teams sharing a vision that extends far beyond a single milestone.

“Our mission is to craft not just a sportsbook, but a never-ending story of innovation. Just as athletes persistently train to refine their abilities, we are equally determined to create new plays, redefine the game, and develop groundbreaking products that propels SZRT as the benchmark for sports betting excellence.”

“Winning SZRT earlier this year and now going live with a complex and comprehensive offering in such an exciting, newly regulated market underlines the quality of our solutions, services, and expertise across multiple disciplines and we look forward to delivering exceptional results and driving consistent growth in the months and years ahead.”

Andrea Mager, President & CEO, Szerencsejáték Privately Held Company Limited, said: “We launched our online sports betting platform 10 years ago and have always strived to offer the best to our customers. The relaunch of tippmixpro.hu is a milestone for the company and our players. The new site offers a much broader range of world-class sports betting opportunities without losing sight of our responsible gaming principles. In addition to new features that improve the player experience, we also offer betting opportunities and markets that players can only legally access on tippmixpro.hu.

“We were delighted to partner with an international supplier such as EveryMatrix in January. During the following months of development, it became clear to us that beyond the business partnership the company offers professional knowledge that ensures the long-term development of TippmixPro, providing our players with a world-class online sports betting platform.”

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Tier-1 operator bet-at-home is live with the full EveryMatrix tech stack in Germany.

The complex Germany integration follows the earlier migration in February this year of millions of players within bet-at-home’s MGA-licensed business. The Frankfurt-listed Group replaced its previous platform with a comprehensive range of EveryMatrix back- and front-end solutions and products.

EveryMatrix’s products and integration processes were custom-built and delivered for bet-at-home.de with almost every EveryMatrix team joining forces to ensure the successful launch of its OddsMatrix sportsbook and wide-ranging turnkey solution. This also includes its casino platform, player management, payments module, and affiliate software – all designed to further enhance the bet-at-home.de operation driving both revenues and efficiencies.

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Key to the project’s success was GamMatrix, EveryMatrix’s platform unit, that purpose-built multiple new micro services for bet-at-home in line with Germany’s complex technical compliance requirements. This included external and responsible gambling limits, multi wallet, taxation and legislation services that enabled integrations and delivered compliance requirements.

Bet-at-home is one of EveryMatrix’s largest sports clients in both revenue and brand value with the long-term agreement covering all markets where bet-at-home is currently present, including Germany.

Ebbe Groes, Group CEO of EveryMatrix, said: “This has been a big effort from hundreds of our experts across multiple global teams. The initial bet-at-home .com launch in February was a major milestone, but today is arguably more significant due to the complexity involved, and proves we truly belong in the top tier of the world’s most respected and trusted iGaming suppliers.

“I’d like to thank Marco and his team for putting their continued faith in EveryMatrix. We remain fully committed to delivering the highest possible performance standards in the months and years ahead.”

Marco Falchetto, CEO of bet-at-home .com AG, said: “I would like to extend my huge thanks to Ebbe and EveryMatrix’s extraordinary teamwork with months of dedication that has led to the accomplishment of this complex and challenging migration.

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“We are very pleased and proud with the results of our joint efforts with a new, intuitive, and extremely appealing bet-at-home.de website powered by EveryMatrix.

“The work between both teams in the last few months has been a real pleasure to be part of for everyone involved. This has been a highly demanding project and EveryMatrix have proven to be a very flexible, reliable, and resilient partner and we are excited to enter this new phase of growth together.”