EveryMatrix, the rapidly expanding provider of iGaming solutions and services for sports betting and casinos, has released its Q3 2023 trading update, revealing an impressive performance for the period between July and September.
Record-Breaking Results
EveryMatrix reported a net revenue of €27.2 million ($29 million) for the third quarter of this year, marking a remarkable 62% increase compared to the same period in 2022. Furthermore, the company's EBITDA for Q3 2023 reached €14 million ($14.9 million), a staggering 113% year-over-year growth. This marks the third consecutive quarter in which EveryMatrix achieved net revenue growth exceeding 50%. The total Q3 2023 revenue for EveryMatrix amounted to €60 million ($64 million), reflecting an impressive 79% increase compared to 2022.
Thriving Casino and Sports Segments
In Q3 2023, EveryMatrix reported a casino gross gaming revenue of €463 million ($493.9 million), a substantial 77% increase compared to the previous year. This achievement is especially remarkable considering the challenges posed by exchange rate effects. On the sports front, the company experienced substantial growth, with a sports turnover of €810 million ($864 million), an 85% year-over-year increase. The gross gaming revenue for the sports segment also rose by a commendable 26%, despite similar exchange rate challenges.
Consistent Growth and Profitability
EveryMatrix's outstanding performance in Q3 reaffirms its position as the fastest-growing provider of iGaming content, technology, and solutions, consistently maintaining profit margins above 50%.
Strategic Collaboration
Earlier in the month, EveryMatrix entered into a partnership with Szerencsejáték Privately Held Company Limited (SZRT), the entity responsible for Hungary's national lottery. Following a competitive selection process, EveryMatrix was chosen to power the lottery's TippmixPro brand with betting services and solutions.
CEO's Perspective
Ebbe Groes, the CEO of EveryMatrix, expressed his enthusiasm for the Q3 results, attributing the company's success to the hard work of its experts. He also highlighted significant milestones achieved during this trading period, including EveryMatrix's certification by the World Lottery Association (WLA) for Safer Gambling, making them the first iGaming supplier to receive this prestigious recognition. Groes concluded by expressing confidence in the company's future growth and expansion prospects for the upcoming year and beyond.