Better Collective posts record revenue in Q4
Better Collective has reported a 63 per cent increase in revenue to €86.1m for Q4 and full year of 2022.
Recurring revenue was 41.3 mEUR; growth of 94% YOY. Revenue share income: 30.2 mEUR; growth of 81% YOY. EBITDA before special items: 35.2 mEUR; growth of 115% YOY margin 41%. New depositing customers all time high with 580.000; growth 117% of which 78% were sent on revenue share deals.
After the overwhelmingly good start to January, I look forward even more to 2023. January was boosted by the Ohio launch – giving us our best month ever – with revenues of 37 mEUR – implying growth of 40%, despite tough comparisons to the New York launch in January 2022, where we doubled the revenue from 2021.
This year will expectedly have fewer large single events than 2022, with the main ones being the summer women’s World Cup in Australia and New Zealand, and the launch of sports betting in Massachusetts. We will continue our growth efforts in LATAM and keep an eye out for new market opportunities.
We remain largely unaffected by the macroeconomic environment but will persistently monitor developments. Lastly, we will keep focusing on gearing our business for the future, which – among others – includes investing in a new AdTech platform and moving more US revenue to revenue share contracts – all of which is included in our 2023 guidance. I would like to round off another great year by thanking all my dedicated colleagues and partners – without you we would not be where we are today. Said Jesper Søgaard Co-Founder & CEO.