Revenue growth and profit decline: Better Collective financial analysis for the first quarter of 2024
Date: 2024-05-22 Author: Robert Beloved Categories: PAYMENT SOLUTIONS
Successful start of the year: revenue increased by 8%
Better Collective, a leading affiliate marketing partner, presented its financial report for the first quarter of 2024, noting a significant increase in revenue of 8% to €95 million. This result indicates the company's stable growth in the global gambling market.
Recurring income: 14% increase
Recurring revenue for the quarter was €53.3 million, up 14% year-on-year. This growth reflects the platform's sustained growth and increased audience revenue from Playmaker Capital.
EBITDA was estimated at 29 million euros, down 13% from the first quarter of 2023. This decline was expected given last year's strong performance.
Positive results in all markets
Better Collective's results in the European and North American markets have been encouraging. Europe and Western countries saw impressive revenue growth of 20%, of which 5% was organic growth. In North America, the company has also made significant progress thanks to a strengthened commercial position and active partnerships.
Acquisition of AceOdds
In the final stages of the first quarter, Better Collective confirmed its commitment to growth by acquiring sports betting brand AceOdds for €42 million. The move underscores the company's strategic development and commitment to expanding its offerings in the gaming industry.
