EveryMatrix reports 33% increase in Q3 gross profit
EveryMatrix has reported gross profit of €16.8m ($16.7m) for the third quarter of 2022, a 33% increase from the prior-year period, with a 4% CAGR of 35%.
The supplier noted that it is now “lapping the full Germany effect”, with the strong comparable figures reflecting the core business’ continuous growth.
EBITDA for the quarter increased to €6.4m, with EveryMatrix continuing to reinvest positive cash flow into future growth. The group noted that key investments remain US expansion and the games segment of the business.
EveryMatrix noted record gross profit for its casino segment in the quarter, with 31% year-on-year growth.
The company also highlighted several key milestones in Q3, including record traffic from clients on all products, surpassing a total of €100m GGR in September, and the launch of its first-ever Crypto Casino project.
Also in the quarter, EveryMatrix launched with Morocco state lottery, MDJS, and signed 14 new casino deals, with 22 new client launches. The supplier also secured market entry in the Canadian province of Ontario.
“I am pleased to see a fantastic third quarter, with global sales performance and very good financial results,” said EveryMatrix Group CEO Ebbe Groes.
“Even more important, we won two new Tier-1 clients in the quarter, Veikkaus in Finland and bet-at-home in Germany and international markets.
“EveryMatrix launched with BetMGM in the US and Morroco’s state-owned lottery MDJS. The group’s record gross profit across all business segments clearly underlines our strong market position.”
EveryMatrix added: “In Q1 2022, the company initiated a determined welfare support programme for its Ukrainian staff. During Q2 and Q3 2022, the company offered continuous support to Ukrainian staff relocating abroad and large donations to supporting causes.
“At the period end, operations remain unaffected, and staff are now largely returning to Ukraine.”
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