Better Collective has reported year-on-year revenue growth across 2022 of 52 per cent to €269.3m.
The sports betting media group’s EBITDA was €85.1m, translating to growth of 53 per cent year-on-year with a margin of 32 per cent.
As for Q4 2022 results, Better Collective showed growth of 63 per cent with €86.1m in revenue, compared to Q4 2021’s efforts.
And EBITDA on the quarterly front was €35.2m, an increase of 115 per cent year-on-year with a margin of 41 per cent.
Better Collective says its momentum has continued into January, which was a record-breaking month for the company’s revenue. Its revenue of over €37m for the month was fuelled by the US state of Ohio opening up to sports betting, amid competition from the established New York market.
The group’s board of directors have agreed that revenue in the range of €290m-€300m is a key target for 2023.
Jesper Søgaard, co-founder and CEO of Better Collective, said the men’s football World Cup was another massive driver of growth in Q4.
He added: “We will continue our growth efforts in LatAm and keep an eye out for new market opportunities. We remain largely unaffected by the macroeconomic environment but will persistently monitor developments.
“Lastly, we will keep focusing on gearing our business for the future, which - among others - includes investing in a new AdTech platform and moving more US revenue to revenue share contracts - all of which is included in our 2023 guidance.”
