EveryMatrix posts 46% gross profit increase for Q3 2021
EveryMatrix has reported €12.6m ($14.2m) in gross profit for the third quarter of 2021, a 46% increase when compared to the same period last year.
The B2B iGaming provider has released its interim financial report, covering the first nine months of 2021. For the period ended 30 September, EveryMatrix saw its gross profit rise by 35% year-on-year to €37.6m, driven in part by expansion in the US market.
Through multi-state casino content agreements with Resorts Digital Gaming and Kindred Group, the provider was able to grow its North American footprint during Q3. EveryMatrix also received a boost to its payment capabilities via partnerships with PXP Financial and Nuvei.
Its EBITDA meanwhile for Q3 increased by 12% to €4.4m, and by 77% to €14.8m for the first nine months of 2021.
“The strong financial performance this quarter confirms our ability to deliver on the growth strategy we have set out,” remarked Ebbe Groes, Group CEO of EveryMatrix.
“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.”
In addition to its US growth, the group launched several new product initiatives, including an upgrade to its OddsMatrix sports betting data solution. EveryMatrix also added a new division, Managed Services, to provide marketing and operational support.
Groes concluded: “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.”
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