Better Collective has reported revenue of €56m ($55.5m) for the second quarter of 2022, a 40% increase from the prior-year period.
Quarterly EBITDA was down 3% year-on-year to €12.2m, with an EBITDA margin of 22%. Cash flow from operations more than doubled year-on-year to €22.5m, while new depositing customers grew 93% year-on-year to 387,000.
The group made its second-largest acquisition ever in the period, acquiring Futbin and related domains for a total price of up to €105m. It also established a new media partnership with the Philadelphia Inquirer to deliver “engaging sports betting content, data and statistics to the publication’s readership of approx. 10 million monthly visitors,” with the partnership co-branded with Action Network.
Also taking place in the quarter was the appointment of Mikkel Munch-Jacobsgaard as Director of Investor Relations, with the executive bringing “insight and network in the international capital markets through long experience from a role as Institutional Equity Sales at both Danske Bank and SEB.”