EveryMatrix Q1 2025 Nets €54M Revenue, Up 39%

A Strong Financial Kickoff

EveryMatrix started 2025 with a bang, posting €54 million in net revenue for Q1, a 39% jump from the previous year. The growth held steady at 39% including acquisitions, while organic growth reached an impressive 32%.

EBITDA climbed 27% to €28 million, maintaining a robust 52% margin, though slightly down from 57% in Q1 2024 due to investments in casino content and internal revenue allocation shifts in the Platform segment.

“I’m very excited for 2025,” said CEO Ebbe Groes. “Q1 was a solid quarter, a great start, and the rest of the year looks just as promising.”

The company’s gross revenue hit €101 million, up 27% year-on-year, and cash conversion stood at 74%. Over the last twelve months, EBITDA soared 50% to €107 million.

These results stemmed from strong existing client performance, innovative product rollouts, and tight financial discipline. Groes noted that 2024 was a phenomenal year, tough to top, but the momentum from recent years gives EveryMatrix confidence to surpass it in 2025.

Casino and Platform Innovations

EveryMatrix’s casino division shone, with PlayMatrix launching three dedicated live blackjack tables and its in-house studios debuting two new games, Zar and 1001 Nights of Riches.

The SlotMatrix platform added a new PrizeEngine mini-game and two gamification features in the Boosters overlay. A major win came from securing Norsk Tipping’s Casino and eInstant RFP, the largest deal in SlotMatrix history, covering aggregation, proprietary content, and custom solutions.

The company also integrated 14 new casino game providers, bringing its total to over 185 providers and 345 content suppliers, strengthening its casino offerings.

The Platform segment saw a landmark achievement with the successful migration of Bet600, the first FSB Technologies client to transition to EveryMatrix’s full turnkey solution in the UK following the FSB acquisition in Q3 2024.

EveryMatrix aims to complete all FSB client migrations by year-end, unlocking significant cost synergies. The GamMatrix platform rolled out a turnkey solution fully compliant with UK regulations, ensuring operators can operate seamlessly in this key market.

Sports Betting and Horse Racing Breakthroughs

The sports division set a new benchmark, handling nearly 600,000 live events, a 24% year-on-year increase. “Our sports division never ceases to amaze me, breaking record after record,” Groes said.

OddsMatrix launched a proprietary horse racing product, blending FSB’s expertise with EveryMatrix’s innovation. This solution covers over 10,000 monthly races globally, offering derivative bets, territory-specific customization, proprietary pricing models, margin control, system betting with bonusing, and a dedicated interface with rich content and live streaming integrations, tailored for the demanding UK market.

OddsMatrix also introduced new odds models for soccer and handball, upgraded self-service betting terminals for new markets, and launched a mobile app for terminal and over-the-counter services. The division rolled out OddsMatrix feeds for LeoVegas Group, too.

Strategic Partnerships and Growth

EveryMatrix signed a deal with SkyCity Entertainment Group, a leading New Zealand entertainment firm with five land-based casinos and the online brand SkyCitycasino.com.

The agreement covers a full turnkey casino platform, including GamMatrix, CasinoEngine, BonusEngine, MoneyMatrix, and PartnerMatrix, with migration planned for 2025 to prepare SkyCity for New Zealand’s upcoming regulated market. SkyCity will build a custom front-end, while EveryMatrix provides the technological backbone.

The PartnerMatrix affiliate platform launched PartnerMatrix Intelligence with FanDuel in the US, introducing enhanced features and integrated insights.

LoyaltyEngine debuted real-time Rakeback, boosting player retention. EveryMatrix added 20 new PartnerMatrix clients and launched a new Intelligence client portal.

Corporate and Social Momentum

EveryMatrix grew its workforce to 1,311 employees, up 36% year-on-year, partly due to FSB and Fantasma acquisitions. Samoil Dolejan took leadership of MoneyMatrix and DataMatrix alongside GamMatrix, while Teodor Coman will head the new UxMatrix front-end unit.

The company opened new offices in Cebu, Chiang Mai, London, and Copenhagen, with the London office reinforcing its UK presence. On the ESG front, EveryMatrix donated €153,000 to Ukrainian staff and charities, totaling €2.6 million, and supported initiatives like Academy for Heroes and robotics competitions.