Better Collective reports $99.9m in revenue for Q4 2024, $386.1m during FY2024
The company’s Co-Founder and CEO Jesper Søgaard stated that the Brazil and US markets have become ‘key growth drivers’ for Better Collective in just a few years.
Key Points
- The revenue figures for Q4 2024 and FY2024 represent increases of 13% and 14%, respectively, while Better Collective also adjusted its 2025 revenue guidance to $333.1m-$364.3m
- Adjusted EBITDA during Q4 2024 grew by 14% for a total of $35.4m, while the company’s adjusted EBITDA during FY2024 was $117.6m, representing an increase of 2% year-over-year
Better Collective has reported the company’s financial results for the fourth quarter of 2024 and full year (FY), including €371m (US$386.1m) in FY2024 revenue, representing an increase of 14% year-over-year.
“In just a few years, Brazil and the US have emerged as key growth drivers for our business, now representing more than half of our 2024 Group revenues. We have strategically leveraged our strong organic and inorganic growth performance to secure leading positions in these growing markets for Better Collective. Despite the unforeseen challenges which arose in the second half of 2024 in those markets, our confidence in the long-term potential remains strong,” Better Collective Co-Founder and CEO Jesper Søgaard said.
“I am pleased with the growth we saw over the year in key areas, including our Europe, Canada and South American businesses, as well as the advancements we made in our esports business. As we have progressed into 2025, our focus is on commercial execution, business development and capital allocation. Supported by our exceptional team and our leading House of Brands, we are well-positioned to seize the many opportunities ahead.”
Better Collective’s recurring revenue throughout FY2024 was reported to be $240.4m, representing an increase of 21% from the prior year period. The company also managed to increase its adjusted EBITDA by 2% year-over-year during FY2024, reporting a total of $117.6m for the period.
Good to know: Better Collective stated on February 12 that the media company helped bettors place more than 8m wagers on Super Bowl LIX, which took place on February 9
As a result of the positive financial performance reported during FY2024, Better Collective also raised its 2025 revenue guidance to between $333.1m and $364.3m, while adjusted EBITDA is now expected to generate between $104.1m and $124.9m.
During the fourth quarter of 2024, Better Collective increased its revenue by 13% year-over-year for a reported total of $99.9m. The company’s recurring revenue throughout Q4 2024 was reported to be nearly $65.6m, representing an increase of 28% from the prior year period. Better Collective’s adjusted EBITDA during Q4 2024 grew by 14% year-over-year for a total of $35.4m.
The company also stated that nearly $72.9m of its FY2024 revenue was generated by its operations in Brazil, representing 19% of the total revenue reported throughout the period. Better Collective stated that it “expects Brazil to become a highly profitable and high growth market for the group in the mid-to-long-term, which will outweigh the short-term impact.”
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