Better Collective praises US performance following record September revenues
A strong performance across its US assets has allowed Better Collective to reach a new monthly revenue record in September.
Publishing its interim Q3 report for the three months ended 30 September, Better Collective revealed that group revenue grew by 148% to €45.4 million, up from €18.3 million in Q3 2020.
September’s revenue, which totalled €20.3 million, accounted for 45% of the total quarterly revenue – growth which Better Collective explained has largely been driven by its US business, the opening up of new states as well as the performance of the newly acquired Action Network.
Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q3 was a great quarter closing with an all time high monthly revenue in September. This was partially the result of strong performance across all our US assets, including our recent acquisition, Action Network.
“September was also the beginning of the high season for US sports, which is expected to fully materialise in the Q4 results.”
Group EBITDA before special items increased by 63% to €13.6 million, marking an increase from the €8.3 million recorded in the same period last year.
Newly Depositing Customers arising from media partnerships reached almost 45,000 for the period, with Better Collective highlighting that “more media partnerships are expected to be established in various countries” in due course.
Meanwhile, the total number of NDCs exceeded 200,000 in the quarter, with an implied growth of 110% and a new quarterly record. The Danish sports media publisher pointed out that this record is despite “July and August being the low season for major sports”.
Upon the announcement of these results, Better Collective stated that its full-year financial targets for 2021 remain unchanged.