Business Boom for EveryMatrix in Q1 2025: Revenue Jumps by 39% due to Strategic Acquisitions Accelerating Expansion
Pumps and Pounds: EveryMatrix's Record-Setting Q1 2025 Results
2025 has been a stellar year for iGaming behemoth EveryMatrix, who's just knocked it out of the park with their exceptional Q1 results. Surging ahead with a colossal 39% year-on-year increase in net revenue, reaching €54 million, they've crowned themselves as top dogs in the competitive gaming technology industry.
Moolah, Moolah, Moolah
The first quarter financials of EveryMatrix paint a vivid picture of growth and fiscal responsibility. With net revenue climbing to €54 million, the company has showcased a persistent uptrend in the gaming technology sector. The substantial increase in revenue was complemented by an EBITDA of €28 million, marking a 27% hike compared to the same period last year. EveryMatrix's knack for profitability is impressive — they've managed to maintain their EBITDA margin at 52% for eight consecutive quarters, an achievement that's a testament to their financial discipline and operational efficiency.
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A glance at their long-term performance metrics reveals that between 2024 and 2025, EveryMatrix's EBITDA reached €107 million, spiking an extraordinary 50% year-on-year. This robust financial performance is a branching out from the company's landmark 2024 achievement, when they surpassed the €100 million EBITDA hurdle for the first time since their inception.
Score! Sports Segment Scores the Goals
The sports division has proven to be the big-league player in EveryMatrix's portfolio. In Q1 2025, the sports segment had an excellent run, with a notable 60% increase in Gross Gaming Revenue (GGR), hitting €154 million. Turnover also skyrocketed by 30% to €1.7 billion. Their winning strategy revolves around consistently strong trading margins and expanding market coverage.
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One of the major growth drivers for this performance was EveryMatrix's stellar record of increasing live sporting events coverage. They scaled up to nearly 600,000 live events in Q1, a 24% increase from the same period last year. This increased coverage provides operators using EveryMatrix's platform with a wider betting range, boosting turnover and revenue.
The longer-term performance of the sports division is equally sensational, with sports turnover hitting €6.3 billion over the past 12 months, growing 48%, and GGR skyrocketing by 92% to reach €505 million. EveryMatrix is quickly positioning itself as a powerhouse in the sports betting technology market.
Casino with the (Slot) Machine's Edge
While the sports division stole the show, EveryMatrix's casino segment hasn't been left behind. Q1 2025 was, in fact, the strongest quarter for the casino division so far, with net revenue shooting up to €28.6 million and a 44% year-on-year increase. GGR also surged to €753 million, expanding by 22%. These figures demonstrate the escalating popularity of EveryMatrix's casino platform and content with operators and players alike.
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The strong performance of the casino segment can be attributed, in part, to EveryMatrix's strategic acquisition of Stockholm-based game studio Fantasma Games in October 2024. The acquisition broadened their game portfolio, reaching over 250 operators worldwide, and expanded their market reach with the addition of 45 popular slot titles.
Platform Evolution and Other Growth Factors
EveryMatrix's GamMatrix gaming and PAM (Player Account Management) platform also chalked up some growth in Q1 2025. With a net revenue increase of €8.6 million, reflecting a 18% boost year-on-year, the platform has been steadily evolving thanks to strategic initiatives like the successful migration of Bet600, their first full turnkey FSB Technologies client in the UK.
Acquisitions Galore Leading the Charge
EveryMatrix's strategic acquisitions strategy has been instrumental in their continued success. In 2024, they scooped up two significant companies – FSB Technology and Fantasma Games – that are already contributing to their growth.
In July 2024, EveryMatrix acquired FSB Technology for an all-cash deal, funded from their cash flow. This acquisition bolstered EveryMatrix's OddsMatrix sportsbook platform and odds feeds division, instantly adding to their revenue and increasing their presence in key markets like the UK, Ireland, and Africa where FSB had carved out substantial market share.
The FSB Technology acquisition has added approximately 14% more GGR to the Group's sportsbook business unit volumes and has strengthened key areas of EveryMatrix's business, like the OddsMatrix sportsbook by doubling the trading and quantitative analysis team to bolster personalized odds and risk analysis.
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In October 2024, EveryMatrix expanded their offering with the acquisition of Fantasma Games, a Stockholm-based game studio. This deal, worth SEK 209.8 million (approximately €18.5 million), added high-quality slot titles to their repertoire and improved their market reach.
Milestones and Innovations
Early in 2025, EveryMatrix snagged a significant win in the Asia-Pacific region with a landmark deal with SkyCity Entertainment Group, one of New Zealand's largest entertainment companies. Under the agreement, SkyCity will migrate to EveryMatrix's full casino turnkey platform solution.
Additionally, EveryMatrix rolled out their cutting-edge proprietary Horse Racing solution, combining FSB's horse racing prowess with OddsMatrix's technical chops. This new solution delivers comprehensive coverage for horse racing events boasting over 10,000 monthly events, complete with unique features and live-streaming integrations.
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Other highlights from Q1 2025 include launching the company's inaugural dedicated blackjack tables, integrating with SlotMatrix content across five US states, establishing partnerships with 14 new casino vendors, and onboarding 20 new PartnerMatrix clients.
The Wider Market Landscape
EveryMatrix's remarkable performance occurs amidst robust growth in the overall gaming market, which is expected to balloon from $310.97 billion in 2024 to $345.34 billion in 2025, at a CAGR of 11.1%. The growing popularity of crypto gaming and the flourishing online sports betting market bodes well for technology providers such as EveryMatrix that supply the platforms and content that power gaming operations.
Looking Ahead: Eyes on the Horizon
Ebbe Groes, Group CEO of EveryMatrix, expressed enthusiasm for 2025's prospects based on their impressive Q1 performance, stating that he's "very excited for 2025" and that "Q1 was a solid quarter, a great start, and the rest of the year looks just as promising".
With their debt-free status, strong cash flow, and ongoing organic growth, EveryMatrix seems well-prepared to pursue further strategic acquisitions and investments aligned with their growth strategy. Given their ability to maintain high EBITDA margins while scaling rapidly, they seem geared to continue self-funding their growth rather than resorting to debt.
As EveryMatrix continues to grow, innovate, capture market share in critical regions like North America, the UK, and the Asia-Pacific, and integrate acquired companies like FSB Technologies and Fantasma Games, it appears they're set for another stellar year in 2025, building on the strong foundation they've established in Q1.
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EveryMatrix's EBITDA margin remained steady at 52%, reinforcing their financial discipline and operational efficiency in Q1 2025. Their EBITDA of €28 million marks a 27% increase compared to the same period last year, despite the substantial increase in revenue.
The strengths of EveryMatrix's technology are evident in their growth strategies, as seen in their acquisition of FSB Technology in July 2024, which added approximately 14% more GGR to the Group's sportsbook business unit volumes.
With projected growth in the overall gaming market from $310.97 billion in 2024 to $345.34 billion in 2025, EveryMatrix seems poised to capitalize on this growth, continuing to self-fund their expansion through their strong cash flow and ongoing organic growth.
