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.
