Better Collective Sets Sights on Continued Growth and Innovation
Better Collective, a prominent player in the sports betting arena, has outlined its strategy for sustained double-digit revenue growth, reinforcing its trajectory towards investing in future innovations.
The company’s interim report for Q4 2023 highlights a stellar performance, with revenues reaching 85 million EUR, surpassing the year’s targets.
Q4 and Annual Achievements
The final quarter of 2023 underscored Better Collective’s strong financial standing, evidenced by a 15% increase in recurring revenue, which amounted to 47 million EUR. Although there was a slight decrease in EBITDA before special items by 16%, the company successfully maintained a robust EBITDA margin of 35%.
The annual report further underscores the company’s impressive performance, with a 21% increase in revenue to 327 million EUR and a remarkable 47% growth in recurring revenue.
Strategic Ventures and Collaborations
Better Collective’s dedication to innovation is apparent through strategic investments and partnerships, such as the acquisition of Playmaker Capital, significantly enhancing its footprint in the Americas. The company’s partnership with the National Council on Problem Gambling (NCPG) to incorporate safer gambling software underscores its commitment to responsible gaming.
For 2024, Better Collective has set ambitious financial targets, aiming for revenues between 390-420 million EUR and EBITDA of 125-135 million EUR. These objectives reflect the company’s strategic vision, including ongoing investments in its AdTech platform, AI projects, and the transition towards sustainable growth in the North American market.
Our Perspective on Better Collective’s Strategic Outlook
Better Collective’s strategic emphasis on achieving double-digit growth while continuing to invest in future technologies underscores its role as a visionary leader in the sports betting industry.
By harmonizing profitable growth with strategic investments, Better Collective is not only enhancing its current offerings but also establishing a foundation for enduring success. This balanced approach ensures the company remains at the innovation forefront, delivering value to partners and captivating sports content to global audiences.
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