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EveryMatrix crosses €100 million EBITDA barrier for 2024

| By iGB content team
EveryMatrix, the igaming industry’s fastest growing technology provider, has achieved historic quarterly and annual financial results with record revenues, its greatest ever growth and soaring profitability.

The global Tier-1 provider’s expansion has hugely accelerated in the last five years, however Q4 2024, combined with full-year results, has seen records smashed with its best ever quarter, all-time high annual net revenue of €181 million, a 59% YoY increase, EBITDA of €101m – up 70% YoY – and a seventh consecutive profit margin of more than 50%.

This was driven by large-scale customer launches and deal wins, continued, rapid growth in its core sports and casino business units, further bolstered by strong sports trading margins.

Fourth quarter 2024 results saw EveryMatrix set a record high net revenue of €55m across all products, up 51% YoY. Q4 EBITDA stood at €30m, up 49% YoY. 

The EveryMatrix Group celebrated its biggest and best year in 2024 with record performance in all product verticals, signing and delivering its biggest ever tier-1 clients including its first omni-channel agreement with Arena Casino.

It closed two accretive M&A transactions in FSB Technology and Fantasma Games, was selected in first place ahead of competitors for multiple, soon-to-be announced, large-scale public procurement processes further futureproofing the business and surpassed the 1,000-employee milestone, now with 1,300 team members.

EveryMatrix was also recognised by its peers with seven major industry awards – its best ever annual tally – including multi-channel supplier, casino supplier and aggregator of the year.

FSB Technology has added approximately 14% additional Gross Gaming Revenue (GGR) to the Group’s sportsbook business unit volumes with customer migration on track.

The acquisition has strengthened key areas of the business, including the OddsMatrix sportsbook, by doubling the trading and quants team to enhance personalisation within managed odds and risk services. The deal has also opened the UK and African markets for EveryMatrix. 

The Fantasma Games acquisition added 45 well-known titles that are already live with more than 250 operators and played by millions of players across 50+ countries. This increased EveryMatrix’s in-house portfolio to 120+ games.

Fantasma Games’ market distribution will also boost EveryMatrix’s presence in rapidly growing markets. North America remains a key focus area. SlotMatrix went live in West Virginia during the quarter and is licensed in all US igaming states. The SlotMatrix commercial team has also been strengthened with the arrival of Björn Sjöberg as CCO, formerly CCO of Evolution Games.

Ebbe Groes, Group CEO of EveryMatrix, said: “The timing of our results at ICE couldn’t be better while the industry gathers at the biggest event of the year.

“I’m proud of all our achievements in 2024 but particularly in sports where OddsMatrix has undergone an incredible period of growth, increasing betting volumes by a factor 14 in just five years.

“The system’s ability to handle this mega growth for bet placement, bet settlement and risk management, while simultaneously adding many features, is proof of just how solid its architecture is. In this quarter alone we launched a completely rewritten Risk Management module, infinitely scalable and with many new features. Several clients have already migrated to it.

“The momentum we’ve set in the last few years shows no signs of slowing down. Most of all, this is a result of our clients growing with us and my heartfelt thanks go to our customers and our staff. Your loyalty and efforts jointly did this. We will keep pushing to improve all products help our clients’ continued growth!”

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