EveryMatrix’s Q1 update shows gross profit growth across all business segments (casino, sports and platform), a strong cash position and sustained business momentum.
The group has reinvested the positive cash flow in its in-house game studios and expansion into the US market, both set to support the company’s future growth.
Gross profit increased by 14 per cent year-on-year in Q1 2021 to €13.9m (€12.3m) with a four-year CAGR of 35 per cent. Gross profit was driven by substantial growth around the world and the stabilisation of German revenues after the regulatory changes there.
EBITDA was down by 14 per cent to €4.8m (€5.6m) versus a strong comparative in the first quarter of last year. €4.8m is on par with the 2021 average. The company has continued to invest in its game studios (Spearhead Studios, Armadillo Studios and SlotMatrix RGS) and the US market during the period.
Ebbe Groes, group CEO of EveryMatrix, says: “We have started the year with a strong financial performance across all three business segments, driven by our well-balanced and innovative product offering and broad client base. We saw a record number of new client wins in the quarter with 40 deals signed across all products.
“We continue to invest organically for our next level of growth, mainly in our game studios and the North American markets. On top of the organic investments, we are also looking at M&A opportunities.”
