Alongside strong financial performance, ongoing product enhancement and key new signings, expansion of its presence in the new US market was highlighted as a key contributor to strong performance in the EveryMatrix Interim Financial Report covering the first nine months of 2021.
The report shows gross profit at €12.6m for Q3 2021, an increase of 46% compared to the same period last year. For the first nine months of 2021, gross profit increased by 35% year-on-year to €37.6m. EBIDTA also developed strongly, up 12% on the same period last year to €4.4m. For the first nine months of 2021, EBITDA increased by 77% year-on-year to €14.8m.
Ebbe Groes, Group CEO of EveryMatrix, commented: “The strong financial performance this quarter confirms our ability to deliver on the growth strategy we have set out. In the Casino sector, we saw a significant impact of the regulatory changes in Germany, where EveryMatrix is particularly strong. But the diversity of our client base as well as our well-balanced product portfolio means that this nine-month period is still strongly up on the year before.”
EveryMatrix has continued to expand its presence in the new US market through multi-state casino content agreements with Resorts Digital Gaming and Kindred Group. EveryMatrix has also increased its payments capabilities by entering partnerships with PXP Financial and Nuvei. “Our expansion plan for the highly attractive US market is progressing very well. We now have an office, an experienced team, a pipeline that is delivering sales and we continue to advance with the licensing process,” continued Mr. Groes.
The Group has also continued to launch new products, amongst them a significant upgrade to its OddsMatrix Sports Betting Data Solution, allowing clients to fully control and define their own odds and payout levels. The new Managed Services division provides 360° marketing and operational support, enabling operators to capitalise on opportunities, improve brand performance and win market share. And in Q3, the Group completed the restructuring of its Platform division, leading to reduced operating costs and increased effectiveness. Finally, on the commercial side, a major milestone was reached when a new Tier-1 client in the regulated Greek market, Winmasters, was migrated to EveryMatrix’s full product suite: Casino, Sports and Platform.
“We continue to expand footprint by attracting Tier-1 clients through our compelling product offering consisting of highly scalable and modular software platforms and solutions. A key part of our growth strategy is to have a well-balanced portfolio comprising our three business segments, Casino, Sports and Platform. This mix enables us to have a healthy split of revenues. The importance of this strategy is clearly demonstrated by this quarter’s results”, Ebbe Groes concluded.