Better Collective announces 63% revenue increase for Q4 2022
Revenue was reported at $91.6m while new depositing customer levels broke quarterly records.
Better Collective (BC) has announced its Q4 results for 2022, which show a growth of 63%, to reach a total of $91.6m with a revenue share income rise of 81% to reach $32.1m. The sports betting media group reported an impressive 115% leap in EBITDA to $37.5m with a 41% margin.
The amount of new depositing customers reached a new quarterly high, with a 117% growth rate to 500,000 – of which 78% were sent on revenue share contracts.
BC also reported its results for the full financial year, showing an impressive revenue hike of 52% to $286.7m with an organic growth rate of 54%. The revenue share income was $102.6m, which showed a 54% annual incline. Meanwhile, EBITDA for FY2022 stood at $90.6m, another significant double-digit increase of 53%.
New depositing customers for FY2022 hit a record 1.7 million, of which 76% were sent on revenue share contracts. The company’s earnings per share increased by 150% for 2022, when compared to the prior year.
This was a positive round of Q4 results for BC as the sports win margin continued to bounce back with pandemic-impacted European markets normalizing as well as US sports wagering reaching all-time highs.
The company posited in its report that the record-breaking number of new depositing customers could have been caused by several factors. This included the initiation of a share buyback program for up to $5.3m. The purpose of the buyback program was to cover future payments relating to completed acquisitions and long-term investment programs.
BC also emphasized in its report that this generally positive trend had continued into the beginning of 2021, with January posting a record-breaking revenue of $39.7m. The main driver of January 2023’s lucrative results was the Ohio state sports betting launch.
Better Collective recently acquired a position of >5% in rival Catena Media – and what’s interesting is just how much higher its revenue is than its rival. BC’s Q4 revenue alone is not at all far off of Catena’s full-year revenue…
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
