Better Collective sports betting media company has released its Q4 and full-year results for 2020, showing sales ahead of $78.4m year-on-year by 35 percent to $110.7m. The company also suggested a good start to 2021, announcing during January a near doubling of US sales.
As a ‘record high’ sports betting success saw it reach Q4 sales of $45m (Q4 2019: $23.7m), the performance of the group was boosted by a good close to year-end trading.
The company explained, whilst updating investors, that it was able to adjust its entire sports publishing network to take full advantage of the reprogrammed sports calendar at the end of the year, delivering a 30 percent rise in new depositing customers to 153,000 during the Q4 period.
In addition, the successful acquisition and integration of paid media specialist Atemi Group for $53.5 million (deal closed October 2020) improved Q4 commercial operations, an asset that will serve as the new pay-per-click unit of Better Collective.
92 percent rise in Q4 EBITDA
The firm achieved a 92 percent rise in Q4 EBITDA to $16.5m (Q4 2019: $8.6m) excluding Atemi M&A special products. It also stressed that its future financial statements would be divided into two divisions that account for the properties of ‘organic’ (legacy domains) and ‘paid media’ (Atemi + PPC activities).
Jesper Søgaard, Better Collective Co-founder and CEO, commented: “Looking back at an unusual year, I am pleased to see that our business has proven resilient and I am proud that we come out strong on performance. We have entered 2021 in great shape and are well-positioned for an eventful 2021.”
Addressing the performance of the company so far this year, the statement noted: “January revenue reached 13 mEUR ($15.8m), a growth of 78 percent versus 2020, of which 16 percent was organic growth. The organic growth was recorded despite a strong comparison towards January 2020 and was partly driven by the US business where total revenue in local currency almost doubled.”