Better Collective reports 9% revenue growth for Q2

Better Collective reported revenue of €89m for the second quarter of 2026, up 9% from €82m a year earlier.

Growth across North America and talent-led media offset regulatory headwinds in the UK and Brazil.

EBITDA before special items increased 20% to €27m, with the margin widening by 2 percentage points to 30%. Cash flow from operations before special items rose 59% to €30m, corresponding to a cash conversion rate of 111%.

North America was the main growth driver, with revenue share income up 49% to €6m and the regional EBITDA margin before special items climbing from 5% to 26%. 

CPA revenue in North America grew 50% to €5m, primarily driven by prediction markets. Sponsorship revenue across the group rose 39%, supported by commercial momentum at Playmaker HQ and HLTV.

Jesper Søgaard, Co-Founder and Co-CEO of Better Collective, said: "Q2 was a strong quarter for Better Collective, with organic revenue growth of 9% translating into 20% growth in EBITDA before special items to 27 mEUR. We are particularly encouraged by the progress in North America, where growth was driven by revenue share income, talent-led media and prediction markets, while the EBITDA margin before special items improved significantly from 5% to 26%. The FIFA World Cup provided the expected boost to the quarter. 

"With full-year guidance maintained, we remain focused on profitable growth, continued operating leverage and building an increasingly scalable and efficient Better Collective."

The company said the World Cup provided a boost to activity, with new depositing customers growing 24% and Value of Deposits reaching an all-time high of €836m.

The increase in UK Remote Gaming Duty, effective from April 1, and regulatory changes in Brazil each had an estimated €2m negative impact on EBITDA before special items during the quarter.

Better Collective maintained its full-year guidance of 7% to 12% organic revenue growth and 8% to 18% EBITDA growth before special items, both in constant currencies. The company also maintained its target of €40m in annual share buybacks and net debt to EBITDA below 3x.