Better Collective issues update on forthcoming FY and Q4 results

Better Collective has updated its financial targets for FY 2022 following its Q4 performance.

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For the prior quarter (Q3), Better Collective reported revenue of €59.7m ($61.9m), a 32% increase from the prior-year period.

In Q4, the company now expects to report €86.1m in revenue, 63% up from the same period last year. Meanwhile, its EBITDA has increased 115%, totalling €35.2m.

As a result of its Q4, Better Collective expects its full-year revenue to total €269m – representing 52% growth. Additionally, its EBITDA will reach circa €85.1m, rising by 53% annually.

Initially, Better Collective estimated that its yearly organic growth revenue would sit at around 20-30%; however, that is now estimated to be 34%.

Furthermore, its EBITDA for the period was €14.6m, representing a 7% annual increase. Revenue share income was at an all-time high of €25m, a 73% year-on-year rise.

Better Collective Co-Founder & CEO Jesper Søgaard said of the Q3 results: “Q3 delivered strong growth for the group, where we continued our good developments despite the turbulent macroeconomic environment.

“The most exciting trends for the quarter were the move to revenue share in the US, which has been fast-forwarded, and the group revenue share income continuing to break all-time highs.”

The news comes shortly after the news that Better Collective has acquired a position of greater than 5% in rival affiliate Catena Media.

Both companies have become what is considered a 'super affiliate' within the iGaming sector, with both acquiring a series of other affiliates while taking up strong positions within the burgeoning US online market.

Better Collective said it is "satisfied with the position and will not comment any further on the matter."

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