Better Collective sees revenue jump 26%
Better Collective has delivered another strong quarter with group revenue up by 26% to €75m.
Recurring revenue was €46m, implying 49% growth. Making up 61% of total group revenue. Group EBITDA before special items was €20m, a growth of 35% (Q3 2022: 15 mEUR). The group EBITDA-margin before special items was 26%. The full-year financial targets remain unchanged.
New depositing customers (NDC) numbered more than 445,000 in the quarter implying growth of 27%. 87% of NDCs were sent on revenue share contracts.
The North American contractual transition towards revenue share has been moving faster than expected. In terms of NDCs, Better Collective grew massively during Q3 and sent approximately 65,000 NDCs, implying growth of 73%. Out of this, 64% were on revenue share agreements implying 42,000 NDCs, which equals 159% growth.
Co-founder & CEO, Jesper Søgaard comments “In Q3 we saw continued strong performance across the group working towards sustainable future growth for Better Collective. I am especially pleased to see that the transition into recurring revenue with our North American partners is moving faster than expected, which will provide strong value in the long run.
Throughout the quarter we continued our global expansion acquiring leading national sports media across four markets and following the close of Q3 we made a transformational acquisition of Playmaker Capital that will further accelerate our journey towards becoming the leading digital sports media group. I am pleased to see that the entire team at Better Collective continues to execute strongly on our strategy.”