EveryMatrix Reports Strong Financial Performance in Q3 2021
EveryMatrix unveiled its financial report for the first half of 2021. The B2B gaming technology provider revealed its operating outcomes for the initial nine months of 2021 (Q1-Q3).
The organization continued to observe robust revenue expansion during the period, securing several crucial new customers in regulated markets and further broadening its comprehensive product selection.
**Solid Financial Performance**
The newly issued report indicates that gross profit (total revenue minus direct expenses, such as game suppliers) in the third quarter of 2021 was €12.6 million, a 46% increase year-over-year. For the initial nine months of 2021, gross profit rose by 35% year-over-year to €37.6 million.
EBITDA also exhibited robust growth, reaching €4.4 million, a 12% increase year-over-year. For the initial nine months of 2021, EBITDA climbed by 77% year-over-year to €14.8 million.
Ebbe Groes, CEO of EveryMatrix Group, remarked on the outcomes: “The solid financial performance this quarter validates our capacity to execute our declared growth strategy. In the casino sector, we have witnessed a significant impact from the regulatory adjustments in Germany, where EveryMatrix holds a strong position.”
Although this is the case, the variety of our clientele and our well-rounded product offerings indicate that our performance for the initial nine months remains considerably superior to the comparable period in the previous year.
**Growth in the American Market**
During the third quarter of 2021, EveryMatrix broadened its operations into new territories within the United States through multi-state casino content agreements with Resorts Digital Gaming and Kindred Group. EveryMatrix also enhanced its payment capabilities through collaborations with PXP Financial and Nuvei.
“Our expansion plans for the highly appealing US market are progressing smoothly. We currently have offices, a skilled team, channels that are generating revenue, and we continue to advance with the licensing process,” stated Gross.
**Ongoing Product Enhancements and New Key Agreements**
The organization continued to introduce several new product initiatives, including a significant upgrade to its OddsMatrix sports betting data solution, which empowers customers to fully control and define their own odds and payout levels.
To further assist its customers, the company introduced a managed services offering. This new division provides comprehensive marketing and operational support, enabling operators to capitalize on opportunities, enhance their brand performance, and gain market share.
In the third quarter, the organization completed the restructuring of its platform division, resulting in reduced operating costs and improved efficiency.
Within the commercial sphere, Winmasters, a top-tier client in the Greek regulated market, has achieved a notable milestone by transitioning to EveryMatrix’s comprehensive product suite, encompassing casino, sports betting, and platform services.
“Our commitment to providing highly scalable and modular software platforms and solutions has attracted leading clients, steadily expanding our reach. Our growth strategy is underpinned by a balanced portfolio across our three core business divisions: casino, sports, and platform. This diverse mix enables us to achieve a balanced revenue distribution. The results of this quarter serve as a testament to the effectiveness of this strategy,” Groes remarked.
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