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Better Collective has published its annual report for the financial year 2022.
The company’s total revenue growth was 52%. It reached EUR269m ($292m). Organic growth was 34%. 46% of total revenue was recurring revenue, which grew 54% to EUR123m.
Better Collective purchased the entire assets of Canada Sports Betting for EUR21m on 23 March 2022. Futbin was also purchased by Better Collective on 19 April, for EUR105m. The company plans to continue partnerships with this brand in the esports industry.
Better Collective reported that it sent 1.7 million new customers to its partners in 2022. 76% of these were revenue share agreements. These 580,000 were sent in Q4 and just over 300,000 during the World Cup.
In the report, it was also stated that Action Network had reached its $100m revenue target in US markets. Financial targets for 2023 include total revenue in the region of EUR300m and an EBITDA in the region of EUR100m.
The company also revealed its long-term financial goals, which will be reached in 2027. These targets include a compound annual rate of growth (CAGR) at 20% and an EBITDA margin excluding any special items of between 30-40%. Better Collective’s long-term goal is to ensure that future acquisitions and mergers can be funded by their cash flow.
Better Collective was founded in 2023 with a reported 40% growth due to the introduction of online sports betting in Ohio.
In early 2023, two partnerships were announced with Wirtualna Poliska and Goal sports media sites.
