US growth yields impressive Q2 results for Better Collective
The period also saw the company complete acquisition of Action Network.
Better collective, a sports betting media group that develops educational platforms in the igaming industry, has today announced its financial results for both Q2 and H1 of 2021. The period, ending June 30, 2021, saw the company report record revenue numbers fuelled by its US business and media partnerships.
Q2 saw the company’s group revenue increase by 162%, coming in at approximately $46.9m and organic revenue growth was 47%. The company has cited strong US performance for these impressive numbers, equalling Q1 revenue despite a lull in sporting events.
Q2 EBITDA before special items increased 90% to around $14m, almost double the number recorded during the same period in 2020. In addition, cash flow came in at $12.9m, a 7% quarterly increase.
“Q2 marks yet a record quarter in terms of revenue and NDCs delivered to our partners,” said Jesper Søgaard (pictured), co-founder and CEO of Better Collective. “At the same time, we continue to record strong profitability and cash flows. The strong performance is especially driven by the US business, and by our media partnerships that saw breakthrough performance during Q2.”
The period also saw Better Collective acquire the US-based sports betting platform, Action Network, in a deal worth $240m.
In regard to the first half of 2021 as a whole, Better Collective saw revenue grow by 118% to approximately $92.8m, a year-on-year increase of around $40m.
Since the end of H1, Better Collective has seen July revenue reach $14.56m, more than double that of July 2020.
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