Better Collective, a leading name in the sports betting and gaming industry, has reported an outstanding 27% year-on-year surge in its Q2 2024 revenue, hitting an impressive €99 million. This stellar performance underscores the company’s robust growth strategies and operational excellence.
Recurring revenue rises by 26%
In addition to the overall revenue growth, Better Collective has also recorded a significant uptick in recurring revenue, which rose by 26% to reach €62 million. This increase highlights the company’s successful efforts in building sustainable revenue streams and strengthening its market position.
Strategic acquisition fuels updated financial targets
Following the acquisition of AceOdds, Better Collective has updated its financial targets for 2024. This strategic move is expected to further boost the company’s revenue trajectory and enhance its competitive edge in the industry. The acquisition is anticipated to drive synergies and operational efficiencies, contributing to long-term value creation for shareholders.
CEO statement: Jesper Søgaard applauds team for robust Q2 performance
Co-Founder and CEO Jesper Søgaard commends the relentless efforts of the team that resulted in remarkable Q2 outcomes despite fluctuating market conditions. The business has rebounded to organic growth, and the diversified strategy is yielding the expected results.
In his statement, Søgaard highlighted the dedication and strategic prowess of the team that navigated challenges seamlessly. “Our success in Q2 is a testament to the hard work and resilience of our team. We have returned to organic growth, and our diversified approach is functioning as anticipated,” he said.
The CEO’s statement encapsulated the company’s journey through a volatile market environment, emphasizing the importance of strategic agility and team collaboration in achieving business goals. He noted that the ability to adapt and perform under pressure is a core strength of the organization.
Key highlights of Q2 performance
- Organic growth rebound;
- Successful execution of diversified strategy;
- Strong team collaboration;
Jesper Søgaard’s remarks reflect the broader narrative of resilience and strategic execution. As the company continues to adapt to market shifts, the focus remains on sustaining growth and expanding through diversification.
As part of the Q2 performance review, the team analyzed several key metrics:
| Metric | Q2 2022 | Q2 2023 |
|---|---|---|
| Revenue Growth | 5% | 8% |
| Customer Acquisition | 3,000 | 4,500 |
| Market Share | 15% | 20% |
In conclusion, Søgaard reiterated the company’s commitment to its strategic objectives. “We are on the right path, and our Q2 results are proof of our robust strategy and exceptional team effort,” he stated.
