Better Collective posts record revenue in Q3
Published 8th November 2019
The figure represents a 53.9% year-on-year increase, which the business said was largely attributable to acquisitions in the US and Sweden.
In December of last year, Better Collective agreed to acquire Swedish affiliate marketing firm the Ribacka Group, which runs a number of sports betting and casino marketing sites in Sweden, for €30m.
In May, Better Collective also bolstered its US presence with the purchase of Rical LLC, operator of the RotoGrinders and SportsHandle portals, for $21m.
Better Collective also noted strong growth of new depositing customers (NDCs) to more than 85,000, up 27%, saying this help with revenue growth.
Revenue share income made up 69% of revenue, or €11.8m. Cost per acquisition (CPA) revenue brought in €2.4m, while subscription sales in the US contributed €1.4m of revenue. Other sources contributed €1.5m of revenue.
However, direct costs relating to revenue rose 40.4% year-on-year to €1.7m, while staff costs rose 70.2% to €5.5m.
This did not stop Better Collective posting an overall profit of €3.3m for Q3, 32.2% more than in 2018.
“Q3 is normally a seasonally weak quarter with lower player activity and with most major sports leagues pausing in July and part of August,” Better Collective chief executive Jesper Søgaard said.
“With that in mind, I am happy to see such strong business performance with the highest quarterly revenue in the company’s history.”
“I am very proud of Better Collective being the chosen partner of such prominent media brands. I have high expectations that these partnerships will become an important part of our business in the future.”