Better Collective reported fourth-quarter revenue of €94.3 million, down 2% YoY but in line with analyst expectations, as the digital sports media company navigated regulatory headwinds while delivering its highest quarterly EBITDA on record.

On Thursday, the company posted fourth-quarter EBITDA before special items of €37 million, representing a 39% margin and exceeding the analyst consensus of €35.8 million.

Revenue declined 2% YoY but grew 2% in constant currencies, with underlying growth of 7% offset by unfavorable sports margins, Brazil regulation impacts, and foreign exchange headwinds.

For the full year 2025, revenue fell 9% to €337 million, while EBITDA before special items declined 10% to €102 million, slightly ahead of consensus at €101 million.

“2025 was a transformational year for Better Collective. Despite some significant external headwinds, we stayed disciplined and structurally strengthened our business while investing in key AI innovations such as Playbook and FanReach that will help drive our future growth,” said Jesper Søgaard, Co-founder & Co-CEO.

For 2026, Better Collective guided to organic revenue growth of 7-12%, implying €360 million to €377 million, with the midpoint of €368.5 million approximately 2% above the analyst consensus of €363 million.

The company projected EBITDA before special items growth of 8-18%, or €110 million to €120 million, with the midpoint of €115 million about 3% below consensus expectations of €118 million after accounting for €8 million in new tax headwinds from Brazil and the UK.