EveryMatrix, a technology supplier in the iGaming industry, has reported a strong performance in its latest trading period. The company saw a 79% year-on-year increase in revenue, reaching €60m ($64.2m/£52.1m) in the three months to 30 September. Net revenue also hit a record high of €27.2m, representing a 62% increase and showcasing a three-year compound annual growth rate (CAGR) of 47%.

The impressive results were driven by significant growth across all of EveryMatrix’s business segments. The casino vertical, in particular, had another record-breaking quarter, with operator clients generating €463m in gross gaming revenue (GGR), up 77% from the previous year. Similarly, the sports vertical experienced a surge in turnover, rising by 85% to reach €810m, with GGR increasing by 26%. This momentum was achieved despite challenges posed by exchange rate effects, sports results, and increased odds promotions from major clients.

The strong growth in revenue marks the third consecutive quarter in which EveryMatrix has achieved organic net revenue growth above 50%.

In terms of specific verticals, the casino segment set a successive quarterly record with net revenue of €13.3m, representing a 74% increase from the previous year and a 6% increase on a quarter-by-quarter basis. EveryMatrix expanded its casino offerings by introducing 890 games from casino vendors and integrating over 250 games from four new vendors.

In the sports vertical, net revenue reached €6.3m, a 29% increase from the previous year, although it was down 19% compared to the previous quarter. The growth in revenue was attributed to a 65% increase in the number of bets placed, as well as a 43% surge in the average monthly count of live events.

EveryMatrix’s platform also experienced significant growth, with net revenue reaching €6.3m, an 87% increase from the previous year and an 8% increase from the previous quarter. MoneyMatrix, the company’s payment processing platform, saw a 59% increase in the number of successful transactions, while GamMatrix, the gaming and player account management platform, processed 110,000 bets per minute during peak hours, representing a 22% increase from the previous quarter.

Furthermore, EveryMatrix highlighted the growing importance of its affiliate segment, reporting net revenue of €1.2m, a 48% increase from the previous year and a 44% increase from the previous quarter. This growth was largely driven by the addition of DeepCI, which expanded the company’s coverage to over 65 jurisdictions.

Despite adverse exchange rate effects, EveryMatrix’s EBITDA increased by 11% year-on-year to €13.7m, demonstrating the company’s ability to convert growth into profitability. However, the EBITDA margin decreased slightly to 50% due to headwinds from exchange rate effects and low sports trading margins.

Ebbe Groes, Group CEO of EveryMatrix, expressed his satisfaction with the company’s performance, describing it as a period of “very strong organic growth and profitability.” He also emphasized EveryMatrix’s commitment to responsible gambling practices, as the company became the first supplier to achieve WLA Safer Gambling Certification.

Looking ahead, Groes highlighted recent post-period events, including partnerships with Bet-at-home in Germany, TippmixPro in Hungary, and BetPARX in the US regulated market. He praised the team’s success in delivering complex projects and expressed optimism for future growth.

The impressive financial results and strategic achievements indicate EveryMatrix’s position as a leading technology supplier in the iGaming industry. With consistent organic growth and a commitment to responsible gambling, the company is well-positioned for continued success in the future.

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