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Better Collective (BETCO) investor relations material
Better Collective Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved full-year guidance and record Q4 EBITDA despite external headwinds such as Brazil regulation, FX movements, and sports win margin volatility.
Strategic transformation included a €50m efficiency program, resulting in a leaner, more scalable platform.
Accelerated innovation with the launch of Playbook (AI betting solution) and FanReach (audience segmentation platform), expanding international reach and engagement.
Positioned for renewed growth in 2026, supported by a strong sports calendar, World Cup tailwinds, and prediction markets.
Financial highlights
Q4 2025 revenue: €94 million, -2% year-over-year, +2% in constant currencies, impacted by sports win margin.
Record Q4 EBITDA before special items: €37 million, 39% margin, +10% year-over-year, driven by cost discipline.
Full-year 2025 revenue: €337 million, -9% year-over-year; EBITDA before special items: €102 million, -10%.
Value of deposits in Q4: €820 million, +6% year-over-year, +13% quarter-over-quarter, reaching an all-time high.
Revenue CAGR since 2018: 35%; EBITDA CAGR: 30%.
Outlook and guidance
2026 organic revenue growth expected at 7%-12%; EBITDA before special items guided at €110-120 million (+8%-18%).
Medium-term (2027-2028) EBITDA margin target: 35%-40%, supported by scalability and recurring revenue.
Annual share buyback of €40 million planned for 2026.
Net debt to EBITDA to remain below 3x, with a new €319 million three-year committed bank facility.
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