Better Collective published its Q1 2023 report, which showed the affiliate earned €88m ($95m) in group revenue – with a net profit of €20.9m, up from €13.7m .
Meanwhile, its EBITDA totaled 33 million euros – 44% more than the previous year, when it reached 23 million euros. Furthermore, its recurring revenue was 75% higher than in the first quarter of 2022, ending at €41 million.
Better Collective also highlighted its performance after Q1 2023, with the affiliate claiming it made €27m in April – indicating 40% year-on-year growth.
Below is a breakdown of Better Collective’s EBITDA performance in 2022 and 2023 so far, which posted its second-highest figure in Q1 2023.
He also stated that he believes the UK government’s review of legislation on the gaming industry will have ‘zero to limited’ financial impact on the group.
CEO celebrates result achieved by Better Collective
Commenting on the results, CEO and co-founder Jesper Søgaard said: “In the first quarter, we maintained last year’s strong momentum. Revenue grew 30%, while operating leverage proved its worth with EBITDA growing 44%.”
“In itself, this growth is impressive, even more impressive when considering the strong growth we saw last year. Additionally, last year’s US revenue was positively impacted by one-off payments (CPA), while this year we continued the transition for recurring revenue sharing”.
“At our Capital Markets Day (CMD), it was highlighted that 63% of all NDCs submitted during the month of February were about revenue sharing. I am happy to report that this trend has continued. I am especially proud that we once again delivered a record quarter with the North American market contributing 19% growth as we absorb the revenue share transition.”, concluded the CEO of Better Collective.
