Revenue alone hit an impressive €80 million, marking another 66% increase compared to Q1 2023. EBITDA also reached a new pinnacle, soaring by 111% to €22.3 million. The EBITDA margin for the quarter was 57%, a significant rise from 45% in Q1 2023, setting yet another record. EveryMatrix attributed this success to new client launches, improved sports trading margins, and continued growth in its casino segment.
Ebbe Groes, Group CEO of EveryMatrix, emphasized the stellar performance across all segments. “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet,” said Groes. “From casino, sports, and platform showing extremely positive signs of sustained growth and expansion, to our affiliate, payments, and live casino divisions pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond.”
During the quarter, EveryMatrix launched gaming content in Michigan with DraftKings’ Golden Nugget and BetMGM through Entain. The company also expanded its portfolio by adding 886 new games to its platform, bringing the total to 27,825 on its B2B aggregator SlotMatrix. Additionally, EveryMatrix received B2B technology provider accreditation from Peru’s Ministry of Foreign Trade and Tourism (MINCETUR).
EveryMatrix also made a significant move by going live in New Jersey with Supremeland Gaming, its first exclusive US aggregation partner. This partnership makes Supremeland Gaming’s content available on DraftKings through SlotMatrix. In collaboration with iGB, EveryMatrix released the Colombia, Germany, and Peru editions of the Slot Trumps Player Behaviour Report during Q1.
Gross Gaming Revenue (GGR) from EveryMatrix’s Casino segment reached €619 million for the quarter, marking a 5% increase from Q4 2023 and a substantial 65.5% year-on-year growth. Casino net revenue was €19.9 million, up 82.5% yearly, while EBITDA for this segment soared 132% year-on-year to €13.2 million. The EBITDA margin edged up 3% from the previous quarter to 67%.
The OddsMatrix sports segment saw its GGR quadruple from Q1 2023 to €96 million, with sports turnover hitting €1.29 billion. Although this turnover marked a 1% quarterly decline, it represented a 30.9% annual increase. Sports net revenue rose 77.9% to €10.5 million. Notably, OddsMatrix recorded 173 live events in a single month during Q1, with the average monthly number of bets placed reaching 39 million.
Platform net revenue rose 28% to €7.3 million, with EBITDA for this segment increasing by 13% to €3.2 million. The player account management system also set a new record, handling 230,000 bets per minute at peak times. On the affiliate side, which includes PartnerMatrix and DeepCI, net revenue grew by 39% to €1.4 million. However, EBITDA for this segment fell sharply by 179% to a loss of €400,000, attributed to ongoing product and commercial investments.
Over the previous twelve months, EveryMatrix’s total EBITDA reached €71 million, reflecting a 145% year-on-year increase. The company’s continued investment in product and commercial growth, alongside its strategic acquisitions and technological advancements, positions EveryMatrix strongly for sustained success and expansion in the coming years.
