EveryMatrix ends previous fiscal year with record results

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Gaming software and solutions provider EveryMatrix reported record results in 2023.

The Malta-based company posted $122.7 million in net revenue across all products in FY2023, a 75% increase compared to the year prior. The results in FY2023 were bolstered by record quarterly net revenue in Q4 which reached $38.6 million, an 87% uptick compared to Q4 2022.

EveryMatrix, which reported growth across all business segments, also reported a jump in annual EBITDA. In FY2023, the company posted an EBITDA of $64.4 million, a 155% increase year-over-year. Its EBITDA in Q4 2023 reached $21.4 million, up 194% compared to Q4 2022.

“2022 was phenomenal but this year’s numbers are mind-blowing,” said Group CEO Ebbe Groes. “Every business unit and every one of our employees has contributed to a stellar set of financials proving we really are among, if not, the industry’s fastest growing iGaming technology supplier.”

EveryMatrix reported substantial growth behind two platform launches in Hungary and Germany. The company added to its portfolio with Szerencsejáték Zrt, the Hungarian state lottery, and German Bet-at-home, which offers sports betting and virtual casino products.

It also launched PlayMatrix, a live casino product and business unit. In Q4 2023, EveryMatrix saw gross gaming revenue for operator partners within the casino business unit reach $631.8 million during the quarter, up 89% compared to the same period the year prior.

In FY2023, full-year gross gaming revenue for operator partners closed at $2 billion.

EveryMatrix maintaining momentum in the new year

Last month, the company announced that co-founder Stian Hornsletten will take over as CEO of the company’s games division. The former CCO will lead EveryMatrix in landing third-party content partnerships while maintaining his position on the company’s board.

EveryMatrix also entered a new online casino market after the Pennsylvania Gaming Control Board granted the company “interim authorization” to offer its services to licensed operators.

The interim authorization provides EveryMatrix with access to every regulated iGaming market in the U.S. The markets also include Michigan, New Jersey, West Virginia, and Connecticut.  

In 2024, EveryMatrix is also poised to benefit from new partnerships with Caesars Digital and Rush Street Interactive. Last fall the company secured a deal with Caesars to supply iGaming content from its in-house studios.

EveryMatrix will also be integrating its in-house content in Michigan after reaching an agreement with Rush Street Interactive (RSI). EveryMatrix and RSI have previously collaborated on iGaming content on the RushBet platform in Latin America.