Better Collective reports 93% revenue increase
Danish power affiliate sees EBITDA rise 90% in Q2 but reports losses of €1.26m following IPO
Danish affiliate giant Better Collective has reported revenue of €9.7m during the second quarter of 2018, up 93% from the same period last year.
EBITDA in Q2 also increased by 90% to €3.8m, up from €2m in 2017 as new depositing customers exceeded 66,000, a company record.
Better Collective did post a Q2 loss of €1.26m in contrast to last year’s €1.47m profit as a result of IPO costs and M&A costs that were expensed over profit and loss.
Revenue for the first half of the year hit €17.2m, up 68% from the same period last year.
Better Collective CEO, Jesper Søgaard, said: “Q2 2018 not only turned out to be the best performing quarter in the company’s history, but it also saw Better Collective’s entry on the Nasdaq Stockholm stock exchange, our largest M&A deal to date, and a breakthrough in sports betting legislation in the US.”
Looking ahead, Søgaard said Better Collective would pursue “growth in established markets, but also explore the new opportunities that have opened in the U.S.”
Better Collective completed its record acquisition in 2018 after purchasing Austrian-based sports betting affiliate firm, Bola Webinformation GmbH for €36m.