Better Collective has highlighted its expansion across the US as well as its key breakthroughs in media partnerships as two key drivers of growth, as revealed in its H1 results.
Releasing its 2021 interim results for the period ending June 30, the company’s Q2 revenues stood at $40m, an increase of 162 per cent compared to the same period in 2020 ($15.2m),
The company maintained growth across its publishing network, registering Q2 revenues of $26m – up 79 per cent – and period EBITDA outcome of $11.2m – up 68 per cent compared to 2020 – as its platforms and media partnerships benefitted from a strong Euro 2020 performance.
“Q2 marks yet a record quarter in terms of revenue and NDCs delivered to our partners,” commented Jesper Søgaard, co-founder and CEO of Better Collective. “At the same time, we continue to record strong profitability and cash flows. The strong performance is especially driven by the US business, and by our media partnerships that saw breakthrough performance during Q2.
“The peak of the quarter was the closing of our largest acquisition to date, Action Network, which is a game-changer and consolidates our leading sports betting media position in the US.”
Furthermore, the company also provided a year-to-date overview with its targets remaining unaltered as it registered an H1 revenue growth of 118 per cent to $79m (YTD2020: €36m).
Better Collective also provided an initial performance breakdown of its newly established Atemi Paid Media unit – as the expansion of its offering accounted for revenues of €13.9m and EBITDA of €1.3m.
Entering H2 trading, Better Collective YTD EBITDA stands at €25.8m, up 64 per cent on corresponding YTD results of €15.7m.
“For the remainder of 2021 we will continue pursuing our strategy to become the leading sports betting media group in the world,” Søgaard concluded. “We are well prepared for an exciting and profitable future for Better Collective, and I look forward to further knowledge sharing and joint effort with our new colleagues from Action Network.”