Better Collective has reports Q3 revenue of 81 mEUR, up 8% on the previous year. Recurring revenue was 53m EUR, growth of 14%. EBITDA before special items was 22 m EUR up 14% com- pared to Q3 last year.

Cash flow from operations before special items was 32 mEUR. The cash conversion was 131%. By the end of Q3, capital reserves stood at 107 mEUR of which cash of 44 mEUR and unused credit facilities of 61 mEUR.

The group delivered 396.000 New Depositing Custom of which 84% were on revenue share contracts.

Better Collective has experienced a changing landscape in the US market, primarily when it comes to the part of business that relies on performance marketing. The US market stands out from most of the rest of the world be- cause it is young, constantly evolving, and dominated by a few key players.

In the past quarter, Better Collective has experienced overall partner activity has decreased. We have continued to see increased success in our collaborations with partners working on revenue share contracts building a sustainable long-term growth, however deferring revenue and earnings. In response to these market changes, Management has initiated a restructuring of operations to ensure continued sustaina- bility and profitability in North America whilst continuing to build value around revenue share.

Better Collective has been on a strong path of growth for over two decades both financially as well as organi- zationally, expanding the team significantly across many geographies. Our audience across our sports me- dia network has surged from 7 million to over 400 mil- lion visits since 2018, a testament to the impact we’ve made in the digital sports media arena in the pursuit of becoming the leading digital sports media group. How- ever, sometimes, in the pursuit of growth, it’s necessary to pause, reassess, and adapt, to prepare for the next chapter of growth. – Jesper Søgaard Co-founder & CEO.