Q1 2023: EveryMatrix reports net revenue of €23.5m

Key milestones include signing 35 new contracts in eight distinct jurisdictions and the signing of 14 new affiliate platform partnerships.

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EveryMatrix's first quarter sales increased 21% quarter-on-quarter and 69% year-on-year, totaling €23.5m ($25.9m). This is the sixth consecutive quarterly rise in a row.

The increase in Q1 revenue led to record earnings. EBITDA increased by 119% to €10.5m, with a three-year compound annual growth rate of 39%. Additionally, EBITDA, or net revenue margin, increased to 45% because of cost control and growth.

EveryMatrix's casino business unit produced record quarterly gross gaming revenue (GGR) performance for operator partners, producing €374m, up 77% from the same time in 2022. 

Ebbe Groes, Group CEO of EveryMatrix, said: “This year is all about delivering and going above and beyond for our global customers. We have several large-scale projects underway including a platform migration and new look sportsbook for bet-at-home, with Germany to come shortly and the launch of the Hungarian lottery’s new digital sports offering later this year.” 

EveryMatrix reported net casino revenue of €10.8m, up 84%, and 52% higher than the previous quarter's record.

Sports net revenue increased 29% to €5.9m compared to the same period last year. The platform segment, which supports both the casino and sports business units, recorded a net revenue rise of 97% over the prior year and a record EBITDA contribution of €3.4m.

Earlier this week, international finance expert and gaming executive Gonzalo De Osma Bucero was appointed CFO of EveryMatrix.

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