EveryMatrix set a new record in its 2023 financial year, reporting a net revenue of €114m, up 75% from the previous year. The company’s EBITDA also more than doubled, reaching €60m for the 12 months to 31 December 2023.
The primary contributor to EveryMatrix’s revenue was its casino division, which saw an 86% increase in revenue to €54.7m. The EBITDA for the casino division also soared by 162% to €32.3m. This growth was attributed to the integration of new casino vendors and the launch of new games, which resulted in content going live with 98 new operators during the year.
Meanwhile, the sports betting segment also experienced significant growth, with revenue jumping 51% to €29.1m and EBITDA increasing by 103% to €13.5m. The number of bets placed increased by 96% year-on-year, and the number of available live events grew by 31% with an average of 234,000 sports bets per day.
Platform revenue almost doubled to €25.7m, with EBITDA surging by 344% to €12.5m, and affiliate revenue increased by 39% to €4.4m. However, EBITDA for the affiliate segment declined by 21% to €1.2m.
The company’s CEO, Ebbe Groes, expressed his delight with the annual results, highlighting the impressive growth and the strong contributions from every business unit and employee. He specifically praised the development of the OddsMatrix technology, which has led to partnerships with some of the largest operators in Europe.
The company’s record-breaking performance in the fourth quarter was attributed to a revenue increase of 87% to €36m and an EBITDA increase of 194% to an all-time high of €20m. EveryMatrix’s future outlook is optimistic, with plans to invest in new products, technologies, and innovations, as well as expecting to hire its 1,000th employee and open a new headquarters in Bucharest.
Overall, EveryMatrix’s impressive financial results for 2023 have positioned the company as one of the industry’s fastest-growing iGaming technology suppliers, with significant growth across all of its core business areas.