Affiliate Better Collective has released the financial figures for the first quarter of the year. It shows revenue growth of 8% year-on-year to €95 million or $103.12 million. Repeated revenue during the quarter was €53.3 million. This is a rise of 14% from the same period in 2023.
Affiliate Better Collective valued EBITDA at €29 million. It was a decrease of 13% from the figure in the first quarter of 2023. Although, the company has pointed to last year being particularly strong performance-wise. Analysts expected EBITDA to take a dip.
Down from the €20.9 million seen last year, profit after tax was €7.6 million.
Jesper Søgaard, Co-Founder and CEO of Better Collective gave some thoughts on the results. He stated that despite these circumstances, first quarter marked another strong quarter for Better Collective with revenue increasing by 8% to €95 million. It is worth noting that their recurring revenue grew 14% to €53 million. It now includes significant audience-driven revenue from Playmaker Capital. Consequently, it signals another quarter of higher quality. EBITDA for the quarter was €29 million. It reflects an expected 13% decrease due to the extraordinary performance in 2023.
Søgaard added that in Q1, they saw good performance across all markets. Europe & ROW showed outstanding performance with an impressive 20% growth of which 5% was organic. Their widespread impact across markets, facilitated by owned and operated channels and strategic media partnerships, fueled this achievement.
They are delighted with the progress made in the first quarter in the North American market. Their commercial position has never been stronger, with active partnerships established across all major players in the region.
Better Collective confirmed the acquisition of sports betting brand AceOdds for €42 million, a few weeks ago.