Interactive
Malta – EveryMatrix reports strong 2021 results with EBITDA growing 65 per cent to €19.7m
By Phil - 23 February 2022
EveryMatrix has shown strong growth in 2021 powered by past product investments. The company has successfully launched new client brands, expanded its footprint with tier 1 operators and made key progress in the US market. Continued hiring and investment in development have taken place throughout the pandemic.
The newly released report shows gross profit, gross revenue less direct costs to e.g., game suppliers, at €13.9m in Q4 2021, an increase of 26 per cent compared to the same period last year. For the full year of 2021, gross profit increased by 32 per cent YoY to €51.5m.
The EBIDTA also shows strong development and amounted to €4.4m, an increase of 23 per cent compared to the same period last year. For the full year of 2021, EBITDA increased by 65 per cent YoY to €19.7m.
Ebbe Groes, Group CEO of EveryMatrix, said: “I am delighted to report excellent results for the fourth quarter and 2021 as a whole in terms of strong gross profit and EBIDTA growth, onboarding of new clients, and deals signed. We delivered this result despite the regulatory changes in Germany which have impacted the Casino segment significantly. This achievement proves the positive effect of the bold leap EveryMatrix took when investing heavily in product and technology. It has given us a strong, diverse and competitive product offering and the ability to attract new clients.”
EveryMatrix continues to invest in the highly attractive regulated U.S market and has made key progress in Q4. After fulfilling the license requirements in New Jersey, license applications were submitted in Q4 in West Virginia and Michigan, with more fillings to happen soon in the U.S. and in Canada. Several new distribution and partner agreements were signed, including a games contract with Golden Nugget Online Gaming.
OddsMatrix surpassed 100m total placed bets in each month of the quarter, almost double compared to Q4 2020 whilst 10 game vendors integrations with CasinoEngine were completed.
SlotMatrix RGS went live with nine partners by the end of Q4, including EveryMatrix’s own Spearhead and Armadillo Studios. SlotMatrix RGS is available in 15 regulated markets by the end of Q4. EveryMatrix saw 18 games launched on SlotMatrix RGS, including three by Spearhead Studios whilst13 payment integrations resulted in 80+ payment integrations in total.
EveryMatrix’s footprint with tier 1 operators is expanding at a good pace and in Q4 agreements were signed with four new clients, all of them in markets outside Europe: the US, Latin America, and Africa, leading to a total of eight new tier one operators in 2021.
Eight turnkey projects with new client brands were launched in the quarter. This adds up to 19 turnkey launches for the full year, including launches with brands in the regulated markets in Denmark, Cyprus, Greece, Malta, Romania, Mexico and Africa.
“The number of active leads, client launches, and new product launches makes me confident about our prospects and further demonstrates the momentum with EveryMatrix’s innovative product offering and highly scalable and modular software platform,” concluded Mr. Groes.
