Better Collective’s Q2 Strong Performance
Better Collective, a leading digital sports media group, has reported an impressive performance for Q2, marked by significant revenue growth, strategic acquisitions, and expansion initiatives.
Financial Highlights
In Q2, Better Collective achieved a remarkable 39% growth in group revenue, reaching 78 million EUR. Notably, this figure marked a record Q2 quarter for the company, surpassing the previous year’s performance of 56 million EUR. The impressive growth was predominantly organic, demonstrating the company’s ability to attract and retain customers.
Recurring revenue played a pivotal role in Better Collective’s success during the quarter, with a notable increase of 67% to reach 46 million EUR. This surge in recurring revenue accounted for 59% of the total group revenue, signifying a substantial boost compared to the 49% reported during the same quarter last year.
The company’s Q2 EBITDA before special items grew by an impressive 135% year over year, reaching 29 million EUR, with an EBITDA margin of 37%. Cash flow from operations before special items also showed a favorable increase to 34 million EUR, further underlining the company’s financial strength.
Operational and Strategic Moves
Better Collective’s strategic decisions further contributed to its Q2 success. The acquisition of Skycon Limited expanded the company’s efforts in digital display advertising, yielding promising results shortly after integration. Similarly, the acquisition of Playmaker HQ aimed at enhancing competitiveness in social media and sports content production, showing positive trends in line with the company’s goals.
The company’s outlook for 2023 has been revised upward due to a strong performance in the initial months of the year. Better Collective now anticipates revenues of 315-325 million EUR and an EBITDA before special items of 105-115 million EUR. Despite the upbeat trajectory, Better Collective’s founder Klaus Holse stepped down after six years of dedicated service, while new appointments were made to bolster the company’s leadership team.
Better Collective’s Q2 achievements underscore its commitment to growth, innovation, and strategic expansion. The company’s financial prowess, successful acquisitions, and expanding footprint demonstrate its resilience and ability to capitalize on opportunities in the dynamic digital sports media landscape. As the company continues its journey toward becoming a leader in the field, its strategic moves and remarkable growth serve as a testament to its vision and execution capabilities.
