Better Collective Q2 revenues increase 162%
Better Collective grew revenue by 162% to €40m for the second quarter 2021, organic revenue growth was up 47%.
The US business performed strongly, even before inclusion of Action Network, by recording NDC performance and revenue on par with a strong Q1 2021, despite Q2 being low season. July revenue reached €12.4 m more than double of July 2020, with an organic growth of 14%.
July 2021 revenue was negatively impacted by an extraordinarily low sports win margin, especially in connection with the finalisation of EURO2020. This should be seen in the light of a comparison month of July 2020, which was positively impacted by the rescheduling of sports events due to COVID-19 and an above average sports win margin.
Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q2 marks yet a record quarter in terms of revenue and NDCs delivered to our partners. At the same time, we continue to record strong profitability and cash flows. The strong performance is especially driven by the US business, and by our media partnerships that saw breakthrough performance during Q2. The peak of the quarter was the closing of our largest acquisition to date, Action Network, which is a game changer and consolidates our leading sports betting media position in the US”.