May24
EveryMatrix Promotes Mihnea Dobre to Group Chief Technology Officer
EveryMatrix's Strong Q1 2024 Performance Reflects Industry Leadership
May 15, 2024 Marija D
EveryMatrix, a prominent player in the iGaming technology sphere, has recently made headlines with its exceptional performance in the first quarter of 2024. Let’s delve into the key highlights and insights from their record-breaking quarter.
Impressive Financial Results
In Q1 2024, EveryMatrix achieved a historic quarterly high, suring previous records in net revenue and profitability. The company reported a staggering €39 million in net revenue across all product lines, marking a remarkable 66% Year-on-Year (YoY) growth. Moreover, EveryMatrix set a new record for quarterly profit margin at 57%, showcasing its robust financial health and operational efficiency.
One of the driving forces behind EveryMatrix’s success is its strategic initiatives and focus on client acquisition. The company experienced significant growth in client gs and new client launches across its core business units. This strategic approach has contributed to the overall revenue surge and strengthened EveryMatrix’s market position.
EveryMatrix’s proactive approach towards regulatory compliance and market expansion has also played a pivotal role in its Q1 success. The company secured regulatory accreditation in New Jersey. These regulatory milestones and market expansions have opened up new avenues for revenue generation and market reach.
Global Footprint and Workforce Growth
EveryMatrix’s global footprint has expanded significantly, with the opening of new offices in key locations such as Bucharest, Romania, and Cebu, Philippines. This strategic expansion not only enhances the company’s operational capabilities but also underscores its loyalty to global growth and presence. With a workforce exceeding 1,000 employees across 13 global locations, EveryMatrix is poised for further expansion and innovation.
The casino and sports segments have been major contributors to EveryMatrix’s stellar performance in Q1 2024. The quarterly Gross Gaming Revenue (GGR) in the casino segment reached an impressive €619 million, reflecting a substantial 65% YoY increase. The casino’s net revenue surged to €19.9 million, with an 83% YoY growth, while the EBITDA hit €13.2 million, showcasing a remarkable 132% YoY increase.
In the sports division, EveryMatrix witnessed a 31% YoY rise in turnover, with the GGR soaring by 308% YoY to €96 million. The net revenue for Q1 2024 reached €10.5 million, marking a significant 78% YoY increase, while the EBITDA surged by an impressive 313%.
Platform and Platform Division Performance
EveryMatrix’s platform division also demonstrated robust performance, with quarterly net revenue growing by 28% YoY to €7.3 million. The EBITDA for the platform division reached €3.2 million, representing a remarkable 13% YoY increase. Additionally, the platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.4 million during the quarter, marking a solid 39% YoY increase.
With its strong financial performance, strategic initiatives, and market expansion efforts, EveryMatrix is well-positioned for continued growth and success in the dynamic iGaming industry. The company’s record-breaking quarter underscores its ability to adapt to market trends, capitalize on growth opportunities, and deliver value to its clients and stakeholders. As EveryMatrix continues to innovate and evolve, it remains a key player to watch in the ever-evolving iGaming landscape.
Ebbe Groes, Group CEO of EveryMatrix, said: “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet. It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our , payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond. Watch this space as there is plenty more to come from EveryMatrix this year!”
Source:
”EveryMatrix hits 16-year quarterly high”, realmoneyaction.casinowinning.net, May 13, 2024.
Leave a Reply
Related News
EveryMatrix’s Q1 2024 performance is impressive and demonstrates their continued growth and success in the iGaming industry. I just hope that the company will continue with this successful work.