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EveryMatrix reports strong 2021 results, EBITDA growing 65% to €19.7million

| By Laura Gumbrell
B2B igaming technology provider EveryMatrix has released its 2021 financial results covering the company’s performance for Q4 and the full year of 2021


EveryMatrix shows strong growth in 2021 powered by past product investments. The company has successfully launched new client brands, expanded its footprint with tier 1 operators and made key progress in the U.S. market. Continued hiring and investment in development have taken place throughout the pandemic.

The newly released report shows gross profit, gross revenue less direct costs to e.g., game suppliers, at €13.9 million in Q4 2021, an increase of 26% compared to the same period last year. For the full year of 2021, gross profit increased by 32% YoY to €51.5 million.

The EBIDTA also shows strong development and amounted to €4.4 million, an increase of 23% compared to the same period last year. For the full year of 2021, EBITDA increased by 65% YoY to €19.7 million.

Ebbe Groes, group CEO of EveryMatrix, says: “I am delighted to report excellent results for the fourth quarter and 2021 as a whole in terms of strong gross profit and EBIDTA growth, onboarding of new clients, and deals signed. We delivered this result despite the regulatory changes in Germany which have impacted the casino segment significantly. This achievement proves the positive effect of the bold leap EveryMatrix took when investing heavily in product and technology. It has given us a strong, diverse and competitive product offering and the ability to attract new clients.”

EveryMatrix continues to invest in the highly attractive regulated U.S market and has made key progress in Q4. After fulfilling the license requirements in New Jersey, license applications were submitted in Q4 in West Virginia and Michigan, with more fillings to happen soon in the U.S. and in Canada. Several new distribution and partner agreements were signed, including a games contract with Golden Nugget Online Gaming.

Key milestones in Q4

  • OddsMatrix surpassed EUR 100 million total placed bets in each month of the quarter, almost double compared to Q4 2020.
  • 10 game vendors integrations with CasinoEngine completed.
  • SlotMatrix RGS live with 9 partners end of Q4, including EveryMatrix’s own Spearhead and Armadillo Studios.
  • SlotMatrix RGS available in 15 regulated markets by the end of Q4.
  • 18 games launched on SlotMatrix RGS, including three by Spearhead Studios.
  • 13 payment integrations resulting in 80+ payment integrations in total.

EveryMatrix’s footprint with tier 1 operators is expanding at a good pace and in Q4 agreements were signed with four new clients, all of them in markets outside Europe: the U.S., Latin America, and Africa, leading to a total of eight new tier 1 operators in 2021.

Eight turnkey projects with new client brands were launched in the quarter. This adds up to 19 turnkey launches for the full year, including launches with brands in the regulated markets in Denmark, Cyprus, Greece, Malta, Romania, Mexico and Africa.