Better Collective Q2 2025 revenue falls 18% to $95.6m

Better Collective has published the company’s financial performance throughout the second quarter of 2025, including a total revenue decrease of 18% year-over-year to $95.6m, as well as an adjusted EBITDA fall of 21% for a total of $26.8m. 

The company stated its July 2025 revenue fell in line with expectations, as North American operations were impacted by lower marketing spend as well as the company’s debut in North Carolina, declining by approximately $9.3m year-over-year.

“I’m pleased that our Q2 results were in line with expectations. The first half of the year was a transition period mainly driven by structural changes in key markets such as Brazil,” Better Collective Co-Founder and Co-CEO Jesper Søgaard said. 

“We have completed the restructuring of our business and are ready to capture the opportunities of a sports-rich second half of the year, with preparations for the FIFA World Cup 2026 already underway. I would like to extend my sincere appreciation to all colleagues for your dedication and efforts during this transition phase.”

Recurring revenue throughout July 2025 decreased 15% from the prior year period, while Brazilian market revenue share also fell by $9.3m year-over-year. Sponsorship and subscription revenue fell 5% and 8% from the prior year period, respectively, with CPA revenue declining by 31% throughout the month. 

Good to know: After the American Gaming Association reported $1.5bn in wagers were placed in the US for Super Bowl LIX, Better Collective stated that it helped bettors place more than 8m wagers on the big game

The company’s cash flow was negatively impacted by “continued delayed payments” from customers in Brazil due to new regulations, including “establishing new commercial and administrative frameworks.”

Better Collective also announced plans to buy back up to $11.7m of shares, set to be carried forth prior to August 26. 

Kirk Geller

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