Sweden · Delayed Price · Currency is SEK Better Collective Earnings Call Transcripts
Fiscal Year 2025
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Delivered record Q4 EBITDA and maintained high profitability despite regulatory and FX headwinds. Innovation with Playbook and FanReach, plus a strong sports calendar and World Cup, support a return to growth in 2026. Annual share buyback and robust cash conversion reinforce financial strength.
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Q3 saw revenue of EUR 78 million and EBITDA of EUR 21 million, both impacted by a low sports win margin, but underlying growth was strong, especially in North America. The launch of Playbook drove rapid user adoption, and cost efficiency measures reduced expenses by 18% year-over-year.
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Q2 2025 revenue was EUR 82 million with EBITDA at EUR 23 million, reflecting market transitions in Brazil and a lighter sports calendar. Cost efficiencies were achieved, eSports became a standalone segment, and guidance remains unchanged for 2025 and 2027.
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Q1 2025 revenue and EBITDA met expectations amid regulatory headwinds, with cost savings on track and a new share buyback program launched. Brazil showed strong player retention but slower new customer growth, while the U.S. business remained stable with growing recurring revenue.
Fiscal Year 2024
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2024 saw strong growth in Europe, Canada, and eSports, but regulatory headwinds in Brazil and flat U.S. performance led to a cost-efficiency program and a shift to organic growth. 2025 guidance anticipates lower revenue and flat EBITDA, with recovery expected from 2026.
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Q3 2024 delivered 8% revenue growth but saw organic decline and the first guidance downgrade since IPO, driven by U.S. and Brazil headwinds. A €50 million cost reduction program was launched, but long-term growth and M&A ambitions remain intact.
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Q2 2024 saw 27% revenue growth and strong recurring revenue, driven by organic gains and major acquisitions. North America faced headwinds, but the group maintained high margins and upgraded 2024 guidance, with new tech investments and a resilient, diversified strategy.