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...
