EveryMatrix unveiled its financial report for the first half of 2021. The B2B gaming technology provider revealed its operational outcomes for the initial nine months of 2021 (Q1-Q3).
The organization continued to experience robust revenue expansion during the period, while securing several significant new customers in regulated markets and further enhancing its comprehensive product offerings.
The most recent report indicates that gross profit (revenue minus direct expenses, such as game providers) for the third quarter of 2021 was €12.6 million, representing a 46% increase year-over-year. For the initial nine months of 2021, gross profit experienced a 35% year-over-year rise to €37.6 million.
EBITDA also exhibited strong growth, reaching €4.4 million, a 12% year-over-year increase. For the first nine months of 2021, EBITDA surged by 77% year-over-year to €14.8 million.
Providing commentary on the results, EveryMatrix Group CEO Ebbe Groes stated: “The robust financial performance this quarter validates our capacity to execute our declared growth strategy. In the casino sector, we have observed a substantial impact from the regulatory adjustments in Germany, where EveryMatrix holds a particularly strong position.”
Despite the wide variety of our clientele and our well-rounded product offerings, the performance for these nine months is still notably higher than the same period last year.
**Expansion into the American Market**
In the third quarter of 2021, EveryMatrix broadened its operations into new territories in the US by signing multi-state casino content agreements with Resorts Digital Gaming and Kindred Group. EveryMatrix also fortified its payment capabilities by forming partnerships with PXP Financial and Nuvei.
“We are making substantial progress with our expansion strategies in the highly appealing US market. We now have offices, experienced teams, channels that are generating revenue, and we are moving forward with the licensing process,” said Groes.
**Ongoing Product Improvements and New Key Agreements**
The group continued to introduce several new product initiatives, including a significant upgrade to its OddsMatrix sports betting data solution, allowing clients to completely control and define their own odds and payout levels.
To further assist its customers, the company established a managed services department. This new department provides comprehensive marketing and operational support, allowing operators to seize opportunities, enhance their brand performance, and gain market share.
In the third quarter, the group completed the reorganization of its platform division, leading to lower operating costs and improved efficiency.
A major landmark was reached in the business sector when Winmasters, a top player in the Greek regulated marketplace, transitioned to EveryMatrix’s complete range of offerings (casino, sports, and platform).
“We keep expanding our presence by drawing in top-tier clients through our attractive products, including highly adaptable and modular software platforms and solutions. The foundation of our growth strategy is having a balanced collection encompassing our three business units (casino, sports, and platform). This combination allows us to attain a balanced revenue distribution. This quarter’s outcomes clearly show the significance of this approach,” stated Groes.
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