Strong initial financial results reported by EveryMatrix.
Hoo-boy, EveryMatrix Shows off Impressive Q1 in 2025!
Flame on! EveryMatrix, the iGaming platform powerhouse, kicks off 2025 with some serious momentum—reporting an outstanding Q1 of revenue growth and profitability that would put even the coolest of cats to shame.
In the first quarter alone, the company's net revenue skyrocketed to a whopping €54 million, a 39% Year-on-Year (YoY) boost. EBITDA followed suit, soaring to €28 million, up 27% YoY. This stellar performance was fueled by growth from existing clients and innovative product launches. The EBITDA margin even reached 52%, marking the eighth consecutive quarter surpassing the 50% mark, demonstrating the company's financial discipline as it scales its platform and casino content technologies.
For those tracking the numbers, last twelve months' EBITDA clocked in at €107 million, up 50% YoY, and 2024 saw EveryMatrix cruising past the €100 million annual EBITDA milestone.
Q1 Proving a Year of Powerhouse Growth
The first quarter was nothing short of sensational, with some major milestones setting the tone for a year packed with fireworks. Highlights include the successful migration of Bet600—the first full turnkey FSB Technologies customer in the UK—to EveryMatrix's platform. The end goal? Complete migration of all clients across 2025 to unlock mighty cost synergies from that key acquisition.
Speaking of acquisitions, EveryMatrix showed off its cutting-edge proprietary Horse Racing solution, combining FSB's proven expertise with OddsMatrix's innovative development teams. This puppy offers global horse racing coverage, full system bets offering with bonusing capabilities, and a slick Horse Racing front end with rich Racecard content and live streaming integrations.
In another coup, EveryMatrix scored a landmark deal to deliver a full casino turnkey platform solution to SkyCity Entertainment Group, one of New Zealand's largest entertainment companies. SkyCity operates five land-based casinos across both NZ and Australia and the online casino brand SkyCitycasino.com—they'll migrate from their current provider to EveryMatrix later this year.
The Sports Division Keeps Winning, and Casino and Platform Shine
Q1 2025 saw EveryMatrix's sports division continue its winning streak, with quarterly sports turnover surging 30% YoY to €1.7 billion, while GGR climbed 60% YoY to €154 million. The last twelve months (LTM) turnover hit €6.3 billion, reflecting a 48% YoY increase, with GGR rising by 92% YoY to €505 million. The surge came from a record-breaking 24% YoY increase in events, with just shy of 600,000 live events under their belt.
The casino sector experienced the most profitable quarter in history, with net revenue jumping 44% YoY to €28.6 million, EBITDA hitting €16.8 million, and GGR climbing 22% YoY to €753 million. The LTM net revenue reached €2.9 billion, a hefty 38% YoY increase.
GamMatrix: A Little Dip, but Still on Top
GamMatrix, the company's Gaming and Player Account Management Platform, saw a net revenue increase of €8.6 million, up 18% YoY, with EBITDA landing at €2.4 million, a 23% decrease YoY. But don't fret—the dip in EBITDA margin is due to a change in internal revenue allocation.
Ebbe Groes, EveryMatrix's Group CEO, dropped a bomb: "I'm super stoked for 2025. Q1 was an amazing quarter and the rest of the year looks just as promising. We had a fantastic year in 2024, which'll be hard to beat, but thanks to the momentum we've built up over the last few years, I'm confident we'll do it.
"Our sports division never fails to amaze me, breaking records left and right. This quarter, we hit nearly 600k live events—all thanks to our ability to expand coverage and add new products even while experiencing this much continuous growth.""
Q1 2025 Highlights
- Reached net revenue of €54 million, up 39% YoY, with EBITDA at €28 million, up 27% YoY, mainly driven by strong growth from existing clients.
- Migrated Bet600 from FSB to EveryMatrix's platform—the company's first such migration.
- Launched OddsMatrix's brand-new Horse Racing product.
- Signed New Zealand's SkyCity Entertainment Group for a full casino turnkey platform solution.
- First three dedicated blackjack tables went live, a major step forward for the PlayMatrix live dealer product.
- Launched OddsMatrix feeds for LeoVegas Group to boost their global sportsbook offering.
- Won Norsk Tipping's Casino and eInstant RFP—the largest-ever SlotMatrix deal—delivering aggregation, in-house and bespoke content.
- Introduced SlotMatrix casino content with Caesars Entertainment for Americas expansion (post-quarter).
- Unveiled new Odds Models for Football and Handball, plus enhanced retail Self Service Betting Terminals (SSBTs).
- Introduced real-time Rakeback through LoyalityEngine, the company's newly launched Cross-Vertical Loyalty Program.
- Integrated 14 new casino vendors, now boasting over 180 providers.
- Signed 20 new PartnerMatrix clients.
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- In the process of migrating Bet600, a significant client acquisition, to EveryMatrix's platform, stemming from the UK, the aim is to accomplish a complete migration of all clients by the end of 2025 to capitalize on cost synergies.
- EveryMatrix announced a strategic partnership with SkyCity Entertainment Group, one of New Zealand's most prominent entertainment companies, to deliver a full casino turnkey platform solution, facilitating their transition from their existing provider later this year.
- The sports division maintained its profitability, with quarterly sports turnover increasing by 30% YoY to €1.7 billion, EBITDA for the last twelve months surging by 50% YoY to €107 million, and the company crossing the €100 million annual EBITDA milestone in 2024.
- EveryMatrix's business expansion into technological sectors, such as iGaming and sportsbook, showcased impressive EBITDA growth, with a 27% YoY rise in Q1 2025 and the anticipation of continued success and profitability throughout the year.
