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Better Collective reports 63% Q4 revenue increase

Better Collective has reported revenue of €86.1m ($91.7m) for the fourth quarter of 2022, a 63% increase from the prior-year period.

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Recurring revenue climbed 94% year-on-year to €41.3m, with a revenue share income for the period of €30.2m, representing 81% year-on-year growth.

EBITDA for Q4 2022 climbed 115% year-on-year to €35.2m at a margin of 41%, with New Depositing Customers at an all-time high of more than 580,000, representing growth of 117%.

Better Collective added that, outside Q4, January 2023 was a record-breaking month with revenue of over €37m, more than a 40% year-over-year increase.

The group also reported its financial results for the full-year 2022, with revenue growing 52% year-over-year to €269.3m. Recurring revenue climbed 54% to €123.3m, with a revenue share income of €96.4m, growth of 42% year-over-year.

EBITDA increased by 53% to €85.1m, with New Depositing Customers again at an all-time high of over 1.68 million, growth of 96% year-over-year.

“Q4 was a record-breaking quarter during which we benefited from our strong diversification, while we also cemented the synergies that can be achieved when combining efforts across the group,” said Better Collective Co-Founder & CEO Jesper Søgaard.

“During the year, it has been exciting to see how efforts to become the Leading Digital Sports Media Group are starting to materialise. Our sport communities have proved to be attractive “go-to-places” for millions of sports fans while also being strategically attractive for our business partners.

“Furthermore, I am humbled by the spirit of our employees, who delivered an amazing performance - a performance that resulted in an upgrade of our financial targets, which we set out in the beginning of 2022.”

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