EveryMatrix records 188% annual increase in EBITDA for Q2 2023

EveryMatrix has posted its Q2 results, showing that it made overall revenue of €56m – an 88% increase year-on-year – leading to net revenue of €27m.

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Key stats

- Revenue up annually to €56m

- Net revenue of €27m

- EBITDA up 188% year-on-year

EveryMatrix has recorded a sum of €56m ($60.7m) in Q2 revenue – up 88% from Q2 2022’s €30.1m figure. Broken down, this translated to €27m in net revenue.

The company made €12.6m in net revenue from its casino operations, while net revenue for its sporting division totalled €7.8m – 79% up annually. Furthermore, platform net revenue reached €6.7m, 85% up on Q2 2022.

The graph below shows its revenue performance over the last four quarters.

Moving on to its overall net revenue, EveryMatrix saw this increase by 82% annually – totalling €27m – with Q1 2023 recording net revenue of €23.5m.

Meanwhile, EBITDA saw an even larger increase year-on-year, with its figure of €15m representing a 188% rise.

EBITDA margin has also seen a steady increase, with Q2 2023 posting a 55% sum against Q2 2022’s 35%.

Overall, EveryMatrix's EBITDA sum is the largest the company has seen, with its Q1 2023 report recording a figure of €10.5m in EBITDA.

The graph below (supplied by EveryMatrix) shows its net revenue and EBITDA margin growth since Q2 2021.

Source: EveryMatrix

Furthermore, its cash position has also improved quarter-on-quarter, with EveryMatrix now recording €34m against a Q1 2023 total of €19.3m.

During Q2 2023, EveryMatrix acquired DeepCI and launched its LotteryEngine solution in Malta, while being granted a new B2B software licence on the Isle of Man. 

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