The subsidiary Better Collective has released its preliminary financial results for the fiscal year 2024, showing a revenue of 371 million euros ($384.4 million), a 12.6% increase from the performance in 2023.
This revenue figure has reached the organization's annual target of 355 million euros to 375 million euros. However, this revenue target was indeed adjusted in the last quarter of 2024. The downward adjustment of this target was due to reports that activities of the US partners were below expectations, while the growth acceleration in the Brazilian market slowed down (along with regulations on many new entrants).
These factors were disclosed in the Better Collective Q3 2024 report, which showed that the super affiliate's revenue grew by 8% year-over-year, reaching 85 million euros.
Furthermore, the company reported that the full-year EBITDA for 2024 was 113 million euros, exceeding Better Collective's annual EBITDA target of 100 million euros to 110 million euros. Additionally, the full-year net debt to EBITDA ratio before special items was below 3 times, achieving the target, thanks to the affiliate's revenue figures reaching the upper limit of the company's forecast, and the early impact of Better Collective's 50 million euros cost efficiency plan.
This latest news was released after Better Collective's layoffs in October 2024, following a significant drop in the company's stock price, which fell 36.5% just five days after the financial targets were lowered. Nevertheless, the subsidiary apparently still achieved growth in the fourth quarter. However, the Q4 2024 results released on February 19 might further reveal the organization's current position in the market.
Worth noting: In May 2024, Better Collective acquired AceOdds for 42 million euros
In its domestic market of Denmark, new licensing requirements for gaming providers (announced last summer) have taken effect in the new year and will be enforced starting July 1.
Better Collective's stock price reacted very positively to this update, rising 14%, to 77 Danish kroner ($10.69).
In other recent news related to the subsidiary, QMRA last month launched its affiliate compliance certification program to the Australian market, enabling market participants to benefit from a range of compliance-related resources.
