Better Collective Q1 in Line with Expectations, Company Announces Share-Buyback

Better Collective, a digital sports media group, has published its financial report for Q1 2025, highlighting a slight decrease in revenue. Despite the temporary setback, the company’s leaders, who are still looking forward to a favorable 2025, reaffirmed the revenue guidance.

Better Collective Experienced Setbacks

In Q1 2025, Better Collective’s revenue reached EUR 83 million ($94 million), marking a slight but expected decline of 13%. The company also reported recurring revenue of EUR 49 million ($55.4 million).

The company’s operations in Brazil yielded revenue of EUR 10 million ($11.3 million). The company noted that regulatory developments in the region impacted revenue and EBITDA with EUR 7 million ($7.9 million) compared to Q1 2024.

A slowdown in the US, on the other hand, impacted the quarter negatively with approximately EUR 5 million ($5.7 million). At the same time, comparisons from the company’s launch in North Carolina created an EUR 5 million ($5.7 million) headwind.

Luckily for Better Collective, growth in certain business areas and positive currency exchange rates had a positive revenue impact of EUR 7 million ($7.9 million). Conversely, the sports win margin impacted revenue and EBITDA negatively by EUR 2.4 million ($2.7 million).

According to Better Collective’s report, its Q1 EBITDA before special items stood at EUR 22 million ($25 million), representing a margin of 27%. This EBITDA figure outlines a decline of 24% year-on-year.

Cash flow from operations, meanwhile, reached EUR 21 million ($23.8 million) with a cash conversion of 93%. The metric was positively impacted by delayed payments from 2024 and negatively impacted by delayed Q1 payments in Brazil.

As of March 31, Better Collective had bank credit facilities amounting to EUR 319 million ($360.8 million). The company also reported capital reserves of EUR 90 million ($101.8 million), which included EUR 25 million ($28.3 million) in cash and unused bank credit facilities of EUR 65 million ($73.5 million).

The company delivered 316,000 new depositing customers in Q1, down 30% year-on-year due to headwinds in the US and Brazil.

CEO Søgaard: The Results Are in Line with Expectations

Jesper Søgaard, Better Collective’s co-founder & co-CEO, spoke on the results, saying that they are in line with his team’s expectations. He added that the company will continue its growth efforts and thanked his colleagues for making business possible.

As we are now building the “New BC”, we are setting the stage for future growth by focusing on global scalability and streamlining our House of Brands. This marks the beginning of an exciting new chapter for Better Collective. Thanks to all my colleagues for your continued support as we continue navigating market changes.

Jesper Søgaard, co-CEO, Better Collective

The Company Is Undergoing an Organizational Restructuring

Following the conclusion of Q1, Better Collective initiated a transformative journey to align its organizational structure with its long-term strategic objectives. As part of this restructuring, the company added Christian Kirk Rasmussen as co-chief executive. With a leadership duo comprising Rasmussen and Søgaard, the company is prepared to enter a new phase of growth.

In the meantime, the company named Sofie Ejlersen as the company’s new chief operating officer, tasking her with the “successful implementation and integration of the transformation across the organization.”

The restructuring will establish three global business units: Publishing, Paid Media, and Esports. This model will replace the company’s local management structure.

Better Collective Unveiled New Share Buyback

On April 22, 2025, Better Collective completed a share buyback of EUR 10 million ($11.3 million). As of that date, the company held 3.3% of its outstanding share capital.

Now, Better Collective unveiled a new share buyback program that will run from May 22, 2025, to August 26, 2025. Under this program, the company will spend up to EUR 10 million ($11.3 million) to repurchase up to 6,195,887 shares.