Digital sports media group Better Collective released its latest interim report, revealing details regarding its performance for the three months ended June 30, 2023. In Q2, the company posted a strong increase in revenue, complemented by growth of EBITDA and a surge of new depositing customers.
Overall, Better Collective reported group revenue of €78 million ($84.4 million) for the second quarter of this year. A year-over-year comparison showed an increase of 39% when compared to the €56 million ($60.6 million) result from Q2 last year. On the other hand, organic revenue growth for the second quarter this year was 29%, reveals Better Collective.
Not unexpectedly, cash flow from operations in Q2 this year grew as well. For the second quarter of 2022, cash flow from operations halted at €22 million ($23.8 million). In contrast, this year, it increased to €34 million ($36.8 million), up by 112%.
The recent interim report reveals that recurring revenue reported by the company in Q2 this year hit €46 million ($49.8 million). This result, when compared to the figure posted in Q2 last year, shows an increase of 67%.
Better Collective’s recent financial report reveals that group EBITDA before special items for the second quarter of this year was €29 million ($31.4 million). A year-over-year comparison to the €12 million ($13 million) reported for the same segment in Q2 2022 shows that in Q2 this year, an increase of 135% is observed.
Additionally, the recent report highlights a significant increase in new depositing customers (NDCs) for the recent trading period. NDCs in Q2 this year surpassed 500,000, representing 32% growth year-over-year. Recently, Better Collective strengthened its C-suite with the addition of Rene Schroder to the role of Editor in Chief.
The Company Enjoys Exceptional Q2 Results, Says CEO
Jesper Sogaard, Better Collective’s co-founder and CEO, was delighted about the company’s latest results. He explained that the recent figures point to strong growth and positive momentum. According to Sogaard, Better Collective’s operations in the Americas impacted the recent figures positively. “Driven by successful acquisitions and a strong team to execute on our strategy, I am pleased with the progress we are making towards our vision to become the leading digital sports media group,” he added.
“Q2 turned out to be an exceptional quarter with strong growth building on the momentum generated in previous quarters.“
Jesper Sogaard, co-founder and CEO of Better Collective
Sogaard added that the company remains focused on growing and capturing new opportunities in markets such as South America. At the same time, he revealed that Better Collective seeks to bring unrivaled experiences for customers in the region by delivering engaging and unique content. Finally, Sogaard said that he is delighted to see the company’s ongoing growth in North America.