EveryMatrix has reported Q1 2025 net revenue of €54m, representing a 39% year-on-year (YoY) increase from the corresponding quarter last year.
The supplier’s top line revenue totalled €101m (£86m), marking a 27% YoY climb, while EBITDA followed a similar trajectory, rising 27% YoY to sit at €28m.
The firm’s EBITDA margin did suffer a marginal decline compared to Q1 2024’s showing of 57%, down to 52%, with management attributing the fall to increased investment in casino content.
Analysing the results by vertical, the company’s casino segment experienced its strongest quarterly results to date, including a 44% YoY rise in net revenue to €28.6m.
Adjusted EBITDA within the division came in at €16.8m, highlighting growth of 29% compared to Q1 2024.
Meanwhile, casino gross gaming revenue (GGR) for EveryMatrix’s operator partners reached €753m, increasing 22% YoY.
The first quarter of the year saw what bosses described as “exceptional growth” in its sports arm, including a 50% YoY net revenue rise to €15.8m and a similar sized 51% jump in adjusted EBITDA, coming in at €9.7m.
Within the sports segment, the firm’s operator partners produced turnover of €1.7bn, marking a YoY rise of 30%.
The EveryMatrix sportsbook platform also reported a record number of live events within a quarter at just shy of 600,000, while the total number of bets placed within the reporting period increased 35% YoY to 160 million.
According to EveryMatrix management, the growth within its sports sector was inspired by a “focus on expanding coverage”, with the supplier now catering to an additional 10,000 events across several sports.
Aided by the recent acquisition of FSB Technologies, EveryMatrix launched its own “leading-edge proprietary horseracing solution” within the reporting period.
Platform, the EveryMatrix player account management system, processed 475,00 bets placed per minute during peak times, which aided an 18% YoY rise in net revenue to €8.6m, though EBITDA slumped 23% to land at €2.4m.
The supplier’s affiliate platform division, PartnerMatrix, delivered “unsatisfactory development of revenue and profit”, with net revenue falling by 4% YoY to €1.3m, while the segment posted a €700,000 EBITDA loss.
Reflecting on the start to the year, EveryMatrix CEO Ebbe Groes said: “I’m very excited for 2025. Q1 was a solid quarter, a great start, and the rest of the year looks just as promising.
“We had a phenomenal year in 2024, which will be hard to beat, but thanks to the momentum we’ve set in motion during the last few years, I’m sure we’ll be able to do it.
“Our sports division never ceases to amaze me, breaking record after record. This quarter, we managed to reach 600,000 live events, all thanks to our ability to expand our coverage and add new products and features even while experiencing this much continuous growth.”
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CEO Ebbe Groes issues optimistic outlook for the remainder of the year after “solid” Q1 display, with weaker affiliate platform performance offset by sports and casino gains
The post EveryMatrix posts 39% Q1 revenue rise as sports segment “breaks record after record” first appeared on EGR Intel.