Better Collective's Q1 2025 Revenue Down 13% Amidst Regulatory Challenges
Better Collective, a leading sports betting media group, has reported a 13% decrease in revenue and a 24% drop in EBITDA for Q1 2025. The company attributed these changes to regulatory developments in Brazil and a slowdown in the US stock market.
The company's revenue for the quarter was EUR 83 million ($94 million), with recurring revenue accounting for EUR 49 million ($55.4 million). EBITDA before special items stood at EUR 22 million ($25 million), a significant decline from the previous year. Better Collective added 316,000 new depositing customers, a 30% decrease from the previous year.
Regulatory changes in Brazil impacted the company's revenue and EBITDA by EUR 7 million ($7.9 million) in Q1 2025. The US stock market slowdown further affected revenue by approximately EUR 5 million ($5.7 million).
In response to these changes, Better Collective completed a share buyback of EUR 10 million ($11.3 million) on April 22, 2025, and announced a new share buyback program worth up to EUR 10 million ($11.3 million) from May 22, 2025, to August 26, 2025. This program allowed rights to be acquired by employees and management participants between May and August 2025.
Better Collective's Q1 2025 results reflect the challenges posed by regulatory changes and stock market slowdowns. Despite these setbacks, the company has taken steps to strengthen its financial position and has appointed new leadership, including Christian Kirk Rasmussen as co-chief executive officer and Sofie Ejlersen as chief operating officer, to navigate these changes.
