EveryMatrix Achieves Historic Financial Milestones in 2023

With a staggering 56% quarterly profit margin for Q4 2023 and a series of successful Tier-1 platform launches, the company has set new records in growth and profitability.

Unprecedented Growth Across All Segments

The company reported an annual net revenue of €114m for 2023, a 75% increase from €65m in 2022, and a remarkable growth from €28m in 2019. This surge was propelled by significant advancements in all business segments, particularly in the fourth quarter, which saw a quarterly net revenue of €36m, up 87% year-on-year (YoY).

EBITDA for 2023 reached €60m, up 155% compared to the previous year, with Q4 alone contributing €20m, up 194% YoY. This growth was largely driven by strong sports trading margins and substantial expansion in the casino segment.

Major Achievements and Launches

EveryMatrix’s exceptional financial performance in 2023 was fueled by its excellence in technology and service delivery to over 300 global customers. Notable achievements include the largest turnkey platform launches for the Hungarian state lottery, Szerencsejáték Zrt, and Bet-at-home in Germany. Additionally, the acquisition of DeepCI and the integration of its iGaming intelligence platform into PartnerMatrix have further enhanced EveryMatrix’s affiliate division.

In a significant development, EveryMatrix launched a new live casino product and business unit, PlayMatrix, on December 27th, 2023. This venture introduces a state-of-the-art live Roulette product, featuring 4K digital video signal processing technology and a modern user interface, promising to deliver unparalleled gaming experiences.

Record-Breaking Performance in Core Products

The Casino business unit saw a quarterly Gross Gaming Revenue (GGR) of €588m in Q4 2023, an 89% increase YoY, with full-year GGR reaching €1.9bn. The OddsMatrix sports division also celebrated its best year, with record growth and profitability, achieving a 75% YoY increase in total bets.

Ebbe Groes, Group CEO of EveryMatrix, expressed excitement about the company’s trajectory, highlighting the staggering growth since 2019 and the continued delivery of substantial returns for customers. “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.

“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.”

Our Comment on the Article

EveryMatrix’s record-breaking financial results for 2023 underscore its position as one of the fastest-growing iGaming technology suppliers in the industry.

The company’s strategic investments in new products like PlayMatrix, alongside its continued focus on innovation and customer delivery, have set a high standard for excellence. As EveryMatrix continues to expand its global footprint and enhance its product offerings, it remains a key player in shaping the future of the iGaming landscape.