The year 2023 has proven to be a landmark period for EveryMatrix, a technology supplier renowned for its iGaming solutions, as the company announced an overwhelming surge in net revenue, climbing a striking 75% year-on-year and culminating in a record-breaking €114 million. The remarkable financial trajectory saw the firm’s EBITDA leap by an astonishing 155%, arriving at €60 million for the year ending December 31, 2023.
Powering this financial ascent was the robust growth experienced across all of EveryMatrix’s core business segments. The performance of the casino vertical notably stood out as the main revenue engine, though significant advances were also seen in the sports betting arena, as well as through platform services and affiliate operations.
Ebbe Groes, CEO of EveryMatrix, did not hold back his enthusiasm over the annual results, celebrating the momentum built upon what he referred to as the “phenomenal” achievements of 2022. The sense of accomplishment was evident as he emphasized the collective efforts of each business unit in delivering an unquestionably stellar financial performance. Groes underscored the company’s remarkable growth from 2019, reiterating their commitment to not only expanding but also to returning substantial value to customers.
A special highlight was placed on the development of OddsMatrix technology, which, according to Groes, through dedicated work, has now positioned itself as a significant contender among Europe’s premier sportsbook providers.
A detailed breakdown of the full-year figures revealed that casino activities constituted a generous €54.7 million of the annual revenue, marking an 86% increase. The corresponding EBITDA for the casino segment also saw an impressive leap of 162% year-on-year, amounting to €32.3 million.
This notable financial success was aided by an expanded role-out of new games and an uptick in casino vendor integrations. Impressively, casino content launched with 98 new operators over the course of 2023.
When examining sports betting, the revenue saw a healthy 51% increment to €29.1 million, with EBITDA following suit, bolstering by 103% to €13.5 million. The volume of bets spiked by 96%, live event availability heightened by 31%, and the average sports bets per day crystalized at 234,000.
Looking at platform revenue, a near doubling was observed, leading to €25.7 million, while EBITDA experienced a meteoric 344% rise, reaching €12.5 million. Platform transactions per day likewise were on an upsurge year-on-year.
Affiliate revenue, while less dramatic, did witness a 39% growth, settling at €4.4 million. Contrarily, the EBITDA in this sector dipped by 21%, reflecting €1.2 million, which was offset by the PartnerMatrix net gaming revenue posting a remarkable 77% upturn to €326 million.
A key contributor to EveryMatrix’s opulent year-end results was the stellar performance seen in the fourth quarter. Q4 escalated revenue rates by 87%, amassing an impressive €36 million, while EBITDA for the same quarter rocketed by 194% to an historic peak of €20 million.
Within that quarter, casino revenue and EBITDA surged to 101% and 212%, respectively. Sports betting was not far behind with revenue and EBITDA growing to 69% and 178%. Platform growth for Q4 emerged as 91% higher in revenue and EBITDA astonishingly swelled by 283%.
Groes expressed unbridled optimism for the future, citing ongoing investments in new products such as PlayMatrix, continued technological innovation, and the acquisition of new tier-one customers. Not to mention EveryMatrix approaching its 1000th employee and the inauguration of its state-of-the-art headquarters in Bucharest, signaling a bright horizon for 2024 and the years to come.
Reflecting on this epoch of growth, iGB, in collaboration with EveryMatrix, has chronicled the journey through the Slot Trumps series, offering insights into the various markets navigated and conquered by the iGaming giant.
