B2B iGaming technology provider EveryMatrix has released its Interim Financial Report covering its performance in the first nine months of 2021 (Q1 to Q3).
During the reporting period, the Group has continued its strong top-line growth while winning several key new customers in regulated markets and further developing its comprehensive product portfolio.
STRONG FINANCIAL PERFORMANCE
The newly released report shows gross profit (gross revenue less direct costs to e.g., game suppliers) at €12.6 million in Q3 2021, an increase of 46% compared to the same period last year. For the first nine months of 2021, gross profit increased by 35% YoY to €37.6 million.
EBIDTA also shows strong development and amounted to €4.4 million, an increase of 12% compared to the same period last year. For the first nine months of 2021, EBITDA increased by 77% YoY to €14.8 million.
Ebbe Groes, Group CEO of EveryMatrix, says: “The strong financial performance this quarter confirms our ability to deliver on the growth strategy we have set out. In the Casino segment, we saw a significant impact of the regulatory changes in Germany, where EveryMatrix is particularly strong. But the diversity of our client base as well as our well-balanced product portfolio means that this nine-month period is still strongly up on the year before.”
US MARKET EXPANSION
In Q3 2021, EveryMatrix continued to expand its presence in the new US market through multi-state casino content agreements with Resorts Digital Gaming and Kindred Group. EveryMatrix has also increased its payments capabilities by entering partnerships with PXP Financial and Nuvei.
“Our expansion plan for the highly attractive US market is progressing very well. We now have an office, an experienced team, a pipeline that is delivering sales, and we continue to advance with the licensing process.” continues Ebbe Groes.
ONGOING PRODUCT ENHANCEMENT AND NEW KEY SIGNINGS
The Group has continued to launch several new product initiatives, amongst them a significant upgrade to its OddsMatrix Sports Betting Data Solution, allowing clients to fully control and define their own odds and payout levels.
To further support its customers, the company has launched Managed Services. This new division provides 360° marketing and operational support, enabling operators to capitalise on opportunities, improve their brand performance and win market share.
In the third quarter, the Group completed the restructuring of its Platform division, leading to reduced operating costs and increased effectiveness.
On the commercial side, a major milestone was reached when a new Tier-1 client in the regulated Greek market, winmasters, was migrated to EveryMatrix’s full product suite: Casino, Sports, and Platform.
“We continue to expand footprint by attracting Tier-1 clients through our compelling product offering consisting of highly scalable and modular software platforms and solutions. A key part of our growth strategy is to have a well-balanced portfolio comprising our three business segments, Casino, Sports, and Platform. This mix enables us to have a healthy split of revenues. The importance of this strategy is clearly demonstrated by this quarter’s results”, concludes Ebbe Groes.