written and last updated by
Sam Smith at
19 Sep 2022
Journalist, Editorial Department
EveryMatrix has reported "strong results" for the second quarter of 2022, with revenue reaching €30.1 million ($30 million), a 41% increase compared to the previous year. Gross profit rose by 17% to €14.9 million, while the average growth rate over the past four years stands at 35%.
The company's management noted that regulatory changes in Germany impacted gross profit in the casino segment. Even accounting for these changes, this division still experienced an 11% year-on-year growth. Officials attribute this success to the company's diverse product offerings and broad client base.
EBITDA remained steady at €5.2 million, as the group "continues to reinvest positive cash flow into future growth." Net income increased from €11.1 million at the end of Q1 2022 to €15.2 million in Q2 2022.
EveryMatrix Group CEO Ebbe Groes stated, "Thanks to our diverse product offerings and extensive client base, we achieved another record number of new clients this quarter. We signed 43 deals across all sectors."
Groes also highlighted the 17% increase in gross profit, which he described as a strong reflection of the group's core operations. The consistent growth enables the company to continue investing in further development.
During the reporting period, the group attracted four new top-tier clients, including 888casino and BetMGM in the U.S. Additionally, two of its key clients in Germany and Romania have begun utilizing CasinoEngine. Meanwhile, 54 new brands have launched the company's SlotMatrix solution.
In May 2022, the group completed the acquisition of sports betting developer Leapbit. Commenting on the acquisition, Groes noted that the new company, OddsMatrix, is one of the three pillars of the consortium and is already experiencing rapid growth.
In related news, BGaming and Stake have launched a slot game based on player preferences.
