Better Collective reports strong 2024 growth with 371m revenue
Better Collective has published its Q4 and full-year 2024 financial results, reporting a total revenue of 96 million for the final quarter and 371 million for the full year. The figures mark a strong performance, with Q4 revenue rising by 13 percent year-on-year and recurring revenue increasing by 28 percent to reach 63 million.
The firm’s earnings before interest, taxes, depreciation and amortisation (EBITDA) excluding special items also continued to grow steadily, hitting 34 million for Q4, a 14 percent increase compared to the year before. This was supported by a strong EBITDA margin of 35 percent. On a full-year basis, EBITDA excluding special items climbed 2 percent to 113 million, with an EBITDA margin of 31 percent.
Strong year-on-year growth
Better Collectives saw a consistent upward trajectory. Annual revenue rose by 14 percent compared to 2023, with recurring revenue hitting 231 million, reflecting a 21 percent increase year-on-year.
The affiliates full-year EBITDA of 113 million ended just above its recently revised targets, confirming solid financial health and effective business strategies. The companys strong close to the year places revenue at the higher end of its projections.
Financial targets for 2025
In the future, Better Collective also established new financial goals for 2025, predicting revenue between 320 million and 350 million. EBITDA estimates for the year range between 100 million and 120 million and signify a strategic emphasis on long-term growth and profitability.
Brazil and US lead market expansion
The company identified Brazil and the United States as key drivers of its growth, contributing over half of its total revenue in 2024. Despite a 15 percent drop in new depositing customers (NDCs) in Brazil due to market shifts ahead of regulation, Better Collective remains confident in its long-term presence in the country.
Jesper S?gaard, Co-founder & CEO of Better Collective, commented, In just a few years, Brazil and the US have emerged as key growth drivers for our business, now representing more than half of our 2024 Group revenues. We have strategically leveraged our strong organic and inorganic growth performance to secure leading positions in these growing markets for Better Collective. Despite the unforeseen challenges which arose in the second half of 2024 in those markets, our confidence in the long-term potential remains strong.
Strategic growth across markets
Aside from its growth in Brazil and the US, Better Collective experienced development in other core markets, such as Europe, Canada, and South America. The business also deepened its footprint in esports, a field of growing importance in the affiliate space.
