Key points:
– Better Collective has posted FY24 revenue of €371m
– This figure meets the affiliate’s adjusted projections; market reacts well with 14% rise in shares
– EBITDA rose to €113m, exceeding company projections for the full-year period
Affiliate Better Collective has published its preliminary FY 2024 financial results, highlighting a revenue figure of €371m ($384.4m) for the period – up 12.6% in comparison to results from 2023.
This revenue figure has met the organisation's €355m- €375m target for the full year. However, this revenue target was, indeed, adjusted in the final quarter of 2024. The downgrading of this target came following reports of lower-than-expected partner activity in the US, alongside an accelerated slowdown in the Brazilian market (combined with regulation for many new entrants).
These factors were revealed as part of Better Collective’s Q3 2024 report, which saw the super affiliate post a revenue rise of 8% year-on-year to €85m.
Elsewhere, reported company EBITDA for the full-year 2024 period settled at €113m, exceeding Better Collective’s EBITDA target of €100m- €110m for the year. Additionally, net debt to EBITDA before special items was below x3 for the year, meeting its target and being driven by the affiliate's revenue figure reaching the high-end of the company’s predictions – alongside the early impact of Better Collective’s €50m cost efficiency program.
This latest news comes in the wake of a number of redundancies made by Better Collective in October 2024, following the drastic drop of its share price, which fell by 36.5% in just five days following the downgrading of its financial targets. Despite this, the affiliate has, evidently, still managed Q4 growth. However, the release of its Q4 2024 results on 19 February will likely shed more light on the organisation’s current standing within the market.
Good to know: In May 2024, Better Collective acquired AceOdds for a sum of €42m
In the company’s home market of Denmark, new licensing requirements for gaming suppliers – which were announced last summer – have now come into effect in the nation as of the new year and are set to become mandatory from 1 July.
Better Collective's share prise has reacted very positively to the update, up 14% to DKK 77 ($10.69).
In other recent affiliate-related news, QMRA introduced its affiliate compliance certification program to the Australian market last month, allowing participants in the market to benefit from a range of compliance-related resources.
