EveryMatrix’s rapid growth trajectory continued in Q3 2024, yet again setting record net revenue and delivering a sixth consecutive profit margin of more than 50%, boosted by two major casino and sports acquisitions in the last five months.
The global tier-1 business, that has seen headcount rise 31% year-on-year following two all-cash acquisitions of FSB Technology and Fantasma Games, has confirmed its status as the fastest growing iGaming technology supplier with another set of stellar financial results.
In Q3 2024, EveryMatrix set a record high quarterly net revenue of €45m across all products, up 66% year-on-year. A sixth consecutive 50%+ quarterly profit margin was driven by new customer launches, continued growth in its core sports and casino business units and strong sports trading margins.
The Group has also significantly bolstered future success with the value-adding acquisitions of FSB Technology and Fantasma Games.
FSB has added approximately 15% additional GGR to the Group’s sportsbook business unit, with customer migration on schedule. This acquisition has also strengthened key areas of the business, including the OddsMatrix sportsbook.
Fantasma was added to the Group in October, bringing strong commercial, technical and creative skills. EveryMatrix customers will benefit from the immediate addition of well-known titles that are already live with 250+ operators and played by millions of players across 50+ countries. Fantasma’s market distribution will also boost EveryMatrix’s presence in markets such as North America where the Group has ambitious plans to build on its established partnerships with tier-1 brands.
Ebbe Groes, Group CEO of EveryMatrix, says: “The last few months have been some of the busiest since we founded the company 16 years ago; continuing to drive record GGR for our customers, launching more tier-1 operators and making two significant acquisitions that have instantly added value to the wider Group and that will futureproof both our sports and games divisions.
“As a result of these deals we expect to see even more growth and profitability as we migrate more FSB customers to our technologies and our Games division accelerates production and distribution to become a significant global studio.
“We are the clear frontrunner when it comes to being the fastest growing iGaming supplier.”
