Better Collective hits US target as FY22 group revenue set to reach €269m
Strong World Cup and solid Maryland launch sees affiliate giant achieve “record breaking” Q4 as it champions shift to revenue share model
Better Collective is expecting to post €269.3m (£241m) in full-year 2022 revenue following a “record breaking” Q4 and meeting its US-based targets.
Delivering a preliminary update to the markets, the affiliate noted it is anticipating Q4 revenue of €86.1m, representing year on year (YoY) growth of 63%.
Q4 EBITDA is estimated to soar 115% YOY to €35.2m.
The Danish firm highlighted a strong winter World Cup and its launch in Maryland as key drivers for growth in the final quarter of 2022.
In fact, Q4 US revenue is expected to grow by 71% YoY to €33.9m, which helped Better Collective hit its target of exceeding $100m in US revenue in 2022.
After acquiring Action Network in 2021, Better Collective indicated it would achieve revenue of more than $100m for full-year 2022 in the market.
The target had been questioned after a disappointing Q3 performance and a series of redundancies, but a strong end to the year has abated those fears.
Better Collective has indicated that revenue generated in the US for the year stands at $100.3m, representing a 102% YoY increase.
The affiliate also touched on its transition in the US from a CPA to revenue share model, which despite resulting in financial impact, is expected to ensure the long-term sustainability of the business.
Management noted the push to a revenue share model in the US had seen full-year impact of €14.7m, up from the €10m+ guide from its Q3 results.
At the time of writing, Better Collective’s share price was up 4.2% to SEK178.10.
Earlier this month, Better Collective acquired a minority stake of at least 5% in long-time rival Catena Media.