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EveryMatrix Press Releases

EveryMatrix exceeds 2023 expectations with record annual results

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EveryMatrix has registered the strongest financial results in its 16-year history setting record growth and profitability including 56% quarterly profit margin for Q4 2023 – its third consecutive quarter above 50%.

Announcing its combined Q4/full year 2023 financial results, the industry’s fastest growing iGaming technology provider set record annual net revenue of €114m across all products, up 75% from 2022 (€65m) and more than four times higher than in 2019 (€28m).

The business recorded significant growth in all business segments in Q4 with record quarterly net revenue of €36m, up 87% Year-on-Year (YoY). ​

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Annual EBITDA surged to €60m for the full year, up 155% compared to 2022 and €20m for the quarter, up 194% YoY driven by strong sports trading margins and significant growth across its casino segment.

2023 – YEAR OF TIER-1 DELIVERY

EveryMatrix’s record-breaking 2023 financial performance was driven by continued excellence in technology and service delivery to a rapidly growing roster of 300+ global customers including its two largest turnkey platform launches to date: the Hungarian state lottery, Szerencsejáték Zrt and Bet-at-home in Germany. Both brands went live with the supplier’s turnkey platform and sportsbook solutions at the end of 2023 and are delivering impressive results. ​

The business also amplified its affiliate division with the acquisition of DeepCI, a leading iGaming intelligence platform offering game-changing data tracking across millions of affiliate publisher pages. PartnerMatrix integrated DeepCI in Q4 2023 enabling its customers to source untapped opportunities, enhance their brand’s footprint and maximise efficiencies and earnings.

PLAYMATRIX – NEW PRODUCT VERTICAL LAUNCH

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On December 27th, 2023, the Group launched a new live casino product and business unit entitled PlayMatrix. Its first live Roulette product offers a cutting-edge platform and user interface built from scratch using the most modern technology available, offering 4K digital video signal processing technology with low latency enabling operators to offer next generation gaming to next generation players. The business will announce more details on PlayMatrix in the months to come.

CORE PRODUCTS CONTINUE TO SMASH RECORDS

EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino business unit generated €588m in Q4 2023, an increase of 89% YoY compared to the same period in 2022. Full year GGR stood at €1.9bn, up 83% YoY.

Quarterly casino net revenue rose to €17.9m, up 101% YoY while EBITDA reached €11.4m reflecting a 212% YoY increase. Full year net revenue reached €54.7m, up 86%, with EBITDA soaring 162% to €32.3m.

The OddsMatrix sports division had its best ever year setting record growth, profitability, and a record number of bets for tier-1 customers. Q4 net revenue was up 69% YoY to €9.1m, while EBITDA reached €4.9m, up 178% YoY. Q4 sports GGR climbed to €74m, up 210% YoY, while annual GGR rose 85% to €190m YoY.

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Thanks to a series of major tier-1 launches OddsMatrix saw a 75% YoY rise in total bets from 109 million to 183m from 2022 to 2023, and a 95% QoQ increase in bets in Q4 2023 compared to the same period a year ago.

The business unit set its second highest ever month in GGR for customers in December 2023 at €44.4 million following a record month just four weeks earlier in November 2023 (€48.5m).

Platform saw Q4 2023 net revenue reach €7.9m, up 91% YoY, while EBITDA reached €4.0m, up 283% YoY.

The Affiliate Platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.3m, up 39% YoY with EBITDA down 21% YoY due to accelerated product investment.

Ebbe Groes, Group CEO of EveryMatrix, said: “2022 was phenomenal but this year’s numbers are mind blowing. Every business unit and every one of our employees has contributed to a stellar set of financials proving we really are among, if not, the industry’s fastest growing iGaming technology supplier.

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“Our growth acceleration from 2019 to today is staggering, while crucially we continue to deliver huge returns for our customers. Particularly pleasing has been the development of our OddsMatrix technology where the team’s hard work has paid off in both winning and delivering to some of the largest operators in Europe. The last 12 months have propelled OddsMatrix to joining the ranks of the industry’s largest sportsbook providers.

“Our progress shows no signs of slowing with investment in PlayMatrix; an exciting new live casino product, new technologies, innovations, and new tier-1 customers in the pipeline, while we are closing in on our 1,000th employee at the same time as opening a state-of-the art, purpose-built headquarters in Bucharest. The future is very bright for EveryMatrix in 2024 and beyond.”

 

KEY Q4 & END OF YEAR HIGHLIGHTS

  • Casino – First to launch casino content and aggregation services with WLA-member Veikkaus with more to come across 2024
  • Sports – Live with bet-at-home and Hungarian lottery, two largest and most complex projects company has ever undertaken
  • Platform – developed next generation Player Account Management: GamMatrix v2 using new microservices, can horizontally scale indefinitely and be customised for multiple markets, lowering time to market​
  • Affiliate – PartnerMatrix integrated DeepCI proving end-to-end insights for operators and affiliates sites
  • Gained regulatory approval in Pennsylvania completing licencing process in all regulated US iGaming states
  • Increased headcount to 900+ while growing profitability to record high EBITDA margin
  • Three new senior hires in Q4 including CEO Games, CCO and Head of Lottery
  • Opened purpose-built, eco-friendly HQ in Bucharest; opened new office in Batumi, Georgia to facilitate new product expansion

 

Read the full Q4 and End of Year 2024 Update on EveryMatrix.com

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EveryMatrix Press Releases

EveryMatrix levels up player experiences with new LoyaltyEngine gamification suite

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EveryMatrix has launched LoyaltyEngine, a cross-vertical suite of tools empowering operators to strengthen the bond between players and brands, significantly boosting player engagement, retention and lifetime value.

LoyaltyEngine allows operators to easily configure levels, set earnings rules for experience points (XP) and coins with the ability to configure prizes for any campaign across any gaming vertical, incentivising and motivating players to unlock exciting rewards.

It blends unique gamification elements including clear progression paths with advanced algorithms to incentivise players to climb the ranks and unlock and redeem personalised rewards within a shop-based system. These include bespoke bonuses, tailored promotions, and exclusive VIP perks such as branded merchandise and goods.

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Seamlessly integrating with EveryMatrix’s 30,500+ games and 330+ game studio partnerships, LoyaltyEngine also provides access to real-time player behaviour analytics and insights.

This means customers can immediately understand what drives engagement and brands can instantly identify high value players, enabling them to make rapid, data-driven decisions to optimise loyalty strategies.

Stian Enger Pettersen, CEO Casino, EveryMatrix, said: “LoyaltyEngine will have an instant EveryMatrix effect on our customers’ brands, strengthening the relationship they have with their players by offering richer experiences through gamification and personalised rewards, while equally benefiting operators with seamless integration and real-time data insights and reporting.

“For many years EveryMatrix has pioneered cross-vertical bonusing, loyalty and gamification tools developed to empower our customers and enhance player experiences. LoyaltyEngine will continue this proud tradition by offering a premium loyalty solution with clear progression paths and enticing rewards leading to significant benefits for our customers and their players.”

Join the EveryMatrix team at stand B105 at SBC Lisbon September 24th to 26th to experience LoyaltyEngine’s features and enter a competition with a chance to win amazing prizes.

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EveryMatrix launches ‘Academy for Heroes’ to help Ukraine military veterans develop IT careers

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A new fully EveryMatrix-funded project aimed at helping veterans of the war in Ukraine transition to develop new careers in technology has launched in Lviv.

The NGO, entitled ‘Academy for Heroes’, is spearheaded by EveryMatrix and was inspired by its 300+ employees, based in Lviv in Ukraine, some of whom are fighting in the war.

There are hundreds of thousands of combatants in Ukraine, a number that is rising every day. Following their return from war, sometimes with serious injuries, many need social adaptation and work that can provide a more certain future.

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The Academy will organise courses designed by leading experts in the IT industry, enabling former military personnel to gain the knowledge and skills needed for successful IT careers.

Beyond its primary goal of equipping veterans with IT skills, it also aims to help them successfully integrate into today’s labour market. EveryMatrix and several other local IT companies will be involved in the employment of veterans after they have completed courses.

Ebbe Groes, Group CEO and Co-Founder, EveryMatrix, said: “Our Lviv office is central to our continued success and growth. Ever since the country has experienced conflict we have supported our friends and colleagues, as well as charities, with much needed funds committing more than €2 million to date, and we will continue to help them.

“Now, we’re taking that one step further by setting up our second company NGO to ensure veterans receive the training and skills they need to return to work and develop successful careers in technology.

“The IT industry is one of the strongest parts of the Ukrainian economy, renowned worldwide for technical skills. I hope many will either join us or go on to join other IT companies, giving them hope and a more certain future for themselves and their families.”

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Professor Oleksiy Druhov, CEO, Academy for Heroes, said: “This is the only continuously operating project of its kind in Ukraine for military veterans. Our goal is to teach four groups of veterans every year.

“Each group will have its own specialisation such as Project Management, Quality Assurance and Full stack to name just a few areas. We carefully monitor the Ukrainian IT market and only train the specialisms required.

“All participants will undergo internships at EveryMatrix and other leading Ukrainian IT companies during their studies and they will have the best teachers from the IT Industry. We are also planning to open a specialised, inclusive-friendly training centre at the end of 2024.”

This is the second fully funded NGO that EveryMatrix has initiated. In 2015 the iGaming technology provider established TeachStream supplying much needed funds and resources to disadvantaged children in Romania who might otherwise never have the opportunity to develop IT, computer science, mathematics and English skills.

The post EveryMatrix launches ‘Academy for Heroes’ to help Ukraine military veterans develop IT careers appeared first on European Gaming Industry News.

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EveryMatrix Press Releases

EveryMatrix continues strong revenue growth recording all-time high profit margin 

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EveryMatrix has underlined its credentials as the fastest growing iGaming technology supplier while hitting its highest ever quarterly profit margin.  

Revealing Q2 2024 results, the global tier-1 software provider set a record high quarterly net revenue of €42.4 million across all products, up 57% Year-on-Year (YoY), while simultaneously setting an all-time high profit margin of 59%. This is the fifth consecutive quarter where both growth and profit margin have exceeded 50%.

Q2 2024 EBITDA rose to €25.1m from €22.3m in Q1, up 67% YoY.

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The bumper quarter was driven by significant customer launches, positive sports trading margins and continued growth in its core business units of casino and sportsbook. It comes just six months after EveryMatrix registered the strongest annual financial results in its history.

BUILDING ON A RECORD 12 MONTHS

The 1,000-employee strong business, that significantly bolstered its turnkey sportsbook offering with the acquisition of FSB Technology earlier this month, has experienced accelerated growth for the last six quarters with consistently strong growth across its core products of casino, sports and platform.

The FSB acquisition will further bolster OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues, cross-company synergies and establish a presence in the UK, Ireland and Africa where FSB has developed a strong market share.

Q2 2024 Gross Gaming Revenue (GGR) performance for operator partners within the Casino segment generated an eleventh consecutive record quarterly performance of €658m, up 53% YoY with GGR for the last 12 months at €2.3 billion, a 69% YoY increase.

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Quarterly casino net revenue rose to €21.9m, up 73% YoY while EBITDA reached €14.7m reflecting a 93% YoY increase. The SlotMatrix aggregation product introduced a total of 1,047 unique game titles and integrated six new vendors bringing the total to 163.

OddsMatrix quarterly sportsbook turnover rose 48% YoY to €1.2bn and €4.6bn for the last 12 months reflecting a 56% YoY increase, while GGR was up 67% YoY to €95m. Net revenue for Q2 2024 reached €11.3m, up 44% YoY, while EBITDA hit €7.2m, reflecting a 65% increase.

OddsMatrix reached a record 176k live events in a single month and a total of 500k during the quarter, up 16% YoY driven by the addition of premium content, table tennis and new esports events. The average monthly number of bets placed reached 36.5m.

Platform saw second quarter net revenue rise 35% YoY to €7.8m, with EBITDA at €3.4m, up 26% YoY. The EveryMatrix Player Account Management (PAM) system beat the previous quarter with a new record 255 thousand bets per minute at peak times. The total amount of successful payment transactions reached €3.8bn, an 80% YoY increase.

The Affiliate Platform division, including PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue reach €1.4m during the quarter, up 66% YoY. EBITDA decreased -€0.15m due to continued product and commercial investment. The newly merged business unit signed a very strong 26 new customers during the quarter.

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Ebbe Groes, Group CEO of EveryMatrix, said: “It’s difficult to know what to say when our results just keep getting better and better! 

“What is evident is that it’s been our best ever period of sustained growth and that the EveryMatrix effect is benefiting not just the business, but also crucially our customers, ensuring they continue to break their own records month after month. 

“The acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence to create the most powerful affiliate platform proposition available are just two great examples of how we’re continuing to build on our success and grow our customers even more. We have enormous momentum, and I can’t wait to see what happens next.” 

Q2 2024 HIGHLIGHTS

  • Acquisition of FSB Technology, a full turnkey and specialist sportsbook technology provider with strong presence in the UK & Ireland and Africa
  • PartnerMatrix Intelligence (formerly DeepCI) rebrand to create an all-in-one affiliate management and data tracking powerhouse under PartnerMatrix
  • First US casino content aggregation partner – Live with Supremeland Gaming, Inc on DraftKings via SlotMatrix in New Jersey
  • Named Casino Software Supplier and Aggregator platform at EGR Awards; SlotMatrix named Aggregator of the Year at CasinoBeats Developer Awards
  • Mihnea Dobre promoted to Group Chief Technology Officer
  • CasinoEngine surpasses 6 billion monthly game rounds mark and €6 billion monthly turnover
  • OddsMatrix reached a record 176k live events in a single month

 

Read the full Q2 2024 Update on EveryMatrix.com

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