Better Collective has reported Q3 revenue of €78.3m (£69m), a 4% year-on-year (YoY) decline that bosses said was impacted by customer-friendly results to the tune of €10m.
Revenue for the Danish affiliate slipped from the €81.2m recorded in Q3 2024, with the sports betting results affected being offset by growth elsewhere in the business.
Management said a €4m hit in Brazil and a €2m FX impact had hampered Q3 operations, although there was a €4m uptick from North America revenue share growth.
EBITDA before special items was down 8% YoY from €22.3m to €20.6m and post-tax profit was stable at €1.6m.
New depositing customers (NDCs) amounted to 279,000, a slide versus 396,000 in Q3 last year.
Management attributed this to tough comps against Euro 2024, and the previously documented issues in the regulated Brazilian market. However, value of deposits was up 2% YoY to €726m.
“This performance shows that the company has effectively offset the impact from the Brazilian regulatory transition and indicates a healthy underlying development of the revenue share base,” the firm said.
Breaking revenue down by business segment, publishing accounted for the lion’s share with €46.3m, albeit down against €51.8m in Q3 2024.
Paid revenue increased from €24.8m to €27.6m and esports revenue slipped from €4.5m to €4.4m.
North America revenue was up from €19m to €20.8m, while Europe and the Rest of the World was down from €62.2m to €57.4m.
The affiliate has retained its full-year 2025 guidance, with revenue still expected to hit between €320m and €350m.
Jesper Søgaard, Better Collective co-CEO, remarked: “I’m pleased to see that, when adjusting for the unusually low sports win margin of the quarter, Better Collective is back to organic revenue growth.
“It’s a clear sign of the strength and resilience of our diversified business model and the solid execution across our organisation.
“The launch of Playbook marks the next evolution of Better Collective as the digital home of sports fans – expanding our focus from customer acquisition to retention.
“Playbook is already generating millions of bets with our partners, showing strong early traction and user adoption. Thanks to all my colleagues for your hard work, innovation and commitment to pushing us forward.”
The post Better Collective revenue slips 4% YoY in Q3 first appeared on EGR Intel.
Affiliate says customer-friendly sports results, Brazil and FX impacts took a toll, but an underlying return to growth is a positive sign
The post Better Collective revenue slips 4% YoY in Q3 first appeared on EGR Intel.