Better Collective reports $197.3m in revenue for 2021
Both annual and Q4 revenues rose significantly, representing “a year of growth” for the company.
Better Collective has reported its 2021 and fourth quarter financial figures. The company experienced overall growth, with revenue increasing by 44% during the fourth quarter and a 94% rise in revenue during the year.
Fourth quarter revenue reached more than $58.8m. Organic revenue growth reflected a 25% increase.
EBITDA increased during the quarter by 16% compared to the prior quarter, climbing to $18.16m. The EBITDA margin was 31%.
Company cash flow from its operations brought in $15.04m during Q4, a 33% increase from the previous period. Capital reserves held at $37.34m by the end of the quarter.
The company reported substantial gains for 2021 as well. Annual revenue rose by 94% and reached more than $197.3m. The year also yielded a rise in organic growth by 29%.
EBITDA reached more than $62.1m during 2021, an increase of 46% year over year. The EBITDA margin for 2021 was 32%.
Jesper Søgaard, Co-Founder and CEO of Better Collective, said: “An all-time high intake of NDCs and an overall strong performance of our business mark the ending of 2021 – a year of many new opportunities for Better Collective. We managed to deliver growth of 44% over that of last year’s Q4. Our US business delivered prime results following the start of the NFL season and contributed almost 40% to the total quarterly Group revenue.”
Better Collective entered a media partnership with the New York Post in late January. The two will work to bring commercial sports betting content, data, and statistics to the Post’s 92-million-member audience.
This followed New York State’s opening for online sports betting on January 8.
The company also Better Collective also acquired the remaining 40% of shares in the US-based RotoGrinders Network for $36.7m.
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