The business-to-business (B2B) iGaming technology provider, EveryMatrix, released its second quarter results, posting the seventh consecutive record quarter with an increase in profit margin and revenue. The latest financial update reveals that the company’s net revenue in Q2 this year hit €27 million ($29.4 million), marking a year-over-year growth of 82%.
Similarly, EveryMatrix’s EBITDA for the second quarter of this year soared. Judging by the recent trading update, the company posted an EBITDA of €15 million ($16.3 million). This result, when compared to the corresponding period in 2022 marked an increase of 188%.
The results represented not only an increase year-over-year but quarter-on-quarter as well. The revenue posted for the latest trading period was up 15% quarter-on-quarter while EBITDA for the second quarter increased by 42% when compared to Q1 2023.
EveryMatrix revealed that during the record-breaking quarter, all of its business segments saw exceptional results and growth. This includes its Casino, Sports and Platform, reaffirming their success, potential and growing position within the global gambling sector.
A breakdown provided by EveryMatrix revealed that its Casino net revenue in Q2 this year hit €12.6 million ($13.7 million), up by 83% when compared to the same period last year. Similarly, the company’s Platform business saw a year-over-year net revenue increase of 85%. Additionally, EveryMatrix’s Sports business arm posted gross gaming revenue of €57 million ($62.1 million), an increase of 137% year-over-year.
The Latest Results Bring Excitement to EveryMatrix
Besides the financial results, the company highlighted multiple important achievements completed in Q2 2023. During the latest trading period, EveryMatrix signed 26 new contracts within eight regulated gambling markets. Its LotteryEngine solution has gone live with its first partner, the Malta National Lottery.
Moreover, EveryMatrix expanded its portfolio of partners with more than 50 new clients under the acquisition of DeepCI. During the second quarter of this year, the company has also gone live with WynnBet and DraftKings in the United States, among other important achievements and milestones.
“This business, and our team of more than 750 people across 12 countries, continue to amaze me every day generating consistent, record growth and profitability for our customers who continue to benefit from the industry’s best casino, sports, and platform products.“
Ebbe Groes, Group CEO of EveryMatrix
Ebbe Groes, EveryMatrix’s Group CEO, spoke about the dedication and consistent efforts of the company’s growing team of experts that helped it achieve another record quarter. He highlighted the importance of EveryMatrix’s partners that leverage its engaging betting, casino and platform products.
Groes added that an important goal for the company is to deliver quality services and solutions, powering the growth of its partners. Finally, he predicted further growth and expansion for EveryMatrix.