Better Collective, a well-known digital sports media business, reported strong performance throughout the company in its most recent interim report for Q3. CEO Jesper Søgaard emphasized the smart acquisitions undertaken during the quarter while highlighting the company’s consistent worldwide expansion. The purchase of Playmaker Capital was particularly noteworthy and was seen as “transformational,” establishing Better Collective as a preeminent digital sports media organization.
Jesper Søgaard, CEO, expressed delight with the quick switch to recurring revenue, especially in the US market. This change is seen to be occurring more quickly than expected, which offers the corporation significant long-term value. The shift to regular income is consistent with Better Collective’s overarching plan and its dedication to forging long-lasting alliances.
The outstanding trajectory of Better Collective was further highlighted by the Q3 financial results. From €60 million ($65 million) in the same period last year to €75 million ($81.5 million) this quarter, the firm recorded a 26% increase in sales. Notable organic growth of sixteen percent provided the foundation for this expansion. Significant growth was also seen in recurring revenue, which came in at €46 million ($50 million), or 61% of total revenue and a whopping 49% more than the same period in 2022.
Furthermore, from €15 million ($16 million) in Q3 2022 to €20 million ($21.7 million) in Q3 2023, the group’s EBITDA before exceptional items saw a 35% increase. Impressively, the EBITDA margin before special items was 26%.
Better Collective had strong financial standing, with a cash flow from operations of €14 million ($15 million) prior to exceptional items. At the conclusion of the quarter, the capital reserves were a healthy €123 million ($133 million). The company’s market presence was reinforced by its varied portfolio, which included well-known brands including Action Network, VegasInsider.com, and HLTV.org.
Better Collective is well-positioned for long-term growth and further strategic developments in the field of digital sports media as it gets ready for November 17, 2023, which marks the company’s first official day of listing on the Nasdaq Copenhagen stock market.
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