EveryMatrix has recently published its financial analysis detailing the second quarter of the year.
The iGaming provider EveryMatrix has recently published its financial report detailing the second quarter of the year, which showed strong results. Headline figures include a 17% growth of gross profit and an EBITDA margin of 35%.
Starting off with the statistics, the previously mentioned gross profit grew to just under 15 million euros from over 12.5 recorded the year prior, a 17% increase year on year. EBITDA, however, was recorded at over 5 million euros, the same number as the same period last year.
The company reported a strong position in terms of liquidity as well, as net cash was accounted at over 15 million euros, up from last year’s 11 million. Lastly, the EBITDA margin was measured at 35%, as stated before.
The firm is experiencing strong growth and is reinvesting in itself, as they have invested heavily into growing markets, such as the United States. Additionally, they have expanded their operations massively by the hugely important acquisition of the Croatian wagering provider Leapbit.
The acquisition has greatly strengthened the sports betting capabilities of the conglomerate, namely their OddsMatrix subsidiary. It will allow the latter to incorporate Leapbit’s retail-first products among their other offerings, and diversify their online-first approach as a result.
We are delighted to have shown such a strong performance as we continue to expand and enhance our offerings. We are proud of our 17% growth, as it will allow us to continue to invest into ourselves and grow even further.
stated the group’s chief executive officer Ebbe Groes. They also commented on EveryMatrix’s largest purchase to date, saying:
As OddsMatrix is one of our most important subsidiaries, we are constantly looking to expand it and its offerings. Adding retail capabilities was an important goal that we had in mind when making the decision to acquire Leapbit.
Lastly, the company continues to invest and manage their finances wisely, as they are still free of any debt.
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