EveryMatrix improved its 2nd quarter global revenue due to its strong international sales, successful acquisition, and good cash balance. The B2B gaming technology provider purchased Leapbit, a sports betting software provider based in Croatia.
EveryMatrix achieved 90 percent of its 2021 total deal value from new clients within the first half of 2022. According to online sports betting experts, the company got 43 new clients in the second quarter of 2022. Also, they included four new top-tier customers, including BetMGM, 888casino, Malta’s National Lottery, and a top operator in Italy.
The company’s balance sheet saw an increase of €30.1 million in revenue. It was 41 percent year-over-year compared to the second year of 2021. Also, the growth came despite Germany’s regulatory changes. According to online gambling South Korea sources, Germany is one of EveryMatrix’s major markets.
2nd Quarter Global Revenue
The company’s gross profit increased 17 percent year-over-year to €14.9 percent. Also, its four-year CAGR is 35 percent. Although the changes in German regulations impacted its casino’s gross profit, the market still improved 11 percent due to the company’s product diversification and broad customer base.
Its gross profit from other parts of the world improved 36 percent year-over-year. Also, it increased 87 percent from the second quarter of 2020 to the same quarter of this year. The firm’s sports division improved 30 percent year-over-year.
Its platform division also improved 16 percent to €3.8 million. CEO Ebbe Groes said that the company’s diverse products and solid customer base helped it attract new clients across all categories.
EveryMatrix acquired Leapbit in May 2022. However, they didn’t disclose the total value of the acquisition. The company said that the purchase would improve its online sports betting offering. Also, it is the company’s first sports gambling product with an advanced retail offering.