B2B iGaming technology provider EveryMatrix reported gross profit growth across its Casino, Sports and Platform business segments in the first quarter of 2022, with a strong cash position and sustained business momentum.
Gross Profit increased by 14 percent year-on-year in 1Q22 to EUR13.9 million (US$12.3 million, driven by substantial growth around the world and the stabilization of German revenues.
EBITDA was down 14 percent year-on-year.
EveryMatrix said it has continued to invest in its game studios (Spearhead Studios, Armadillo Studios and SlotMatrix RGS) and the U.S. 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.”