Better Collective reports 88% Q4 revenue rise
Copenhagen-based affiliate boosted by strong sports margins and integration of acquired Atemi business
Better Collective has reported an 88% uptick in year-on-year Q4 2020 revenue to €36.7m (£31.6m) as strong margins boosted the affiliate’s sports betting segment.
The revenue growth, 32% of which was organic, more than doubled from Q3 2020 after the company’s casino offering was also buoyed by the €44m acquisition of paid media affiliate Atemi.
Rev-share sports wagering hit another record high to continue the trend from Q3.
Q4 EBITDA before special items increased by nearly 100% (92%) to €13.7m, up from €7.1m in the prior corresponding period on an EBITDA margin of 37%.
NDCs climbed 30% in Q4 to 153,000.
After the reporting period, January 2021 revenue reached €13m following annual growth of 78%.
This growth was partly driven by the affiliate’s US business, where total revenue in local currency almost doubled with the firm live in 11 states to date.
Looking ahead, Better Collective now expects to report revenue of more than €160m and EBITDA in excess of €50m for full-year 2021.
Better Collective CEO Jesper Søgaard said: “Looking back at an unusual year, I am pleased to see that our business has proven resilient and I am proud that we come out strong on performance.
“We have entered 2021 in great shape and are well-positioned for an eventful 2021. Better Collective will continue the strategy to become the leading sports betting media group.
“We will continue our efforts in leading an industry consolidation through M&A activities and our current pipeline is stronger than ever,” he added.