Presenting its initial Q2 2018 trading update, Better Collective has outlined robust growth across its core metrics and KPIs, combined with strong future growth prospects for its services and operations.
Achieving a record +66,000 new depositing customers across its network assets during the trading period, Better Collective records underlying revenues of €9.6 million (Q2 2017: €5 million).
Additionally, the group’s heightened revenue performance allowed it to report a period EBITDA of €3.8 million (Q2 2017: €2 million).
Closing its Q2 2018 trading period, Better Collective governance would account for ‘special items’ related to its IPO and acquisition costs, which would see the company declare a period operating loss of €340,000.
“On June 8, 2018 the company completed an IPO on Nasdaq Stockholm main market. The IPO was completed by mostly selling newly issued shares, bringing net cash proceeds to the company of approximately €65 million net of cash settlement of employee warrants of €2.4 million” details Better Collective in its trading update.”
Moving forward, Better Collective has consolidated its leading position within its home market of Denmark, acquiring legacy sports betting portal SpilXperten.
Furthermore, Better Collective continues its expansion across German language markets, adding wettbasis.com to its Pan-European sports betting affiliate network.
Better Collective’s ongoing ‘Organic-M&A’ strategy is further strengthened by the firm securing access to a €40 million arrangement syndicated through Nordea Bank and Danske Andelskassers Bank.
The firm details that it is actively exploring US market ‘entry point’ opportunities, as its move to launch a new North American asset us-bookies.com.
Updating investors, on Q2 2018 trading Jesper Søgaard, Better Collective CEO & Co-Founder stated: “Sports betting was positively affected by the FIFA World Cup in football. This event, combined with successful acquisitions and a generally solid performance, resulted in the highest revenue and NDCs in the company’s history.”
He added: “Better Collective aims to be the best sports betting affiliate in the World. To strengthen our position, we completed an IPO on Nasdaq Stockholm in June 2018, that allows us to continue our M&A-strategy. Since April 1, 2018, we have completed three acquisitions, including our largest transaction so far, making us the leading sports betting affiliate in the large German-speaking markets.”
