Q2 2024 Better Collective A/S Earnings Call Transcript
Key Points
- Better Collective AS (BTRCF) achieved a strong revenue growth of 27% in Q2, with 5% organic growth, despite challenging market conditions.
- The company successfully integrated three major acquisitions: Playmaker Capital, Playmaker HQ, and AceOdds, which have enriched its foundation and provided a stronger base for future growth.
- Better Collective AS (BTRCF) maintained a low debt ratio and improved capital reserves, ensuring a robust financial position.
- The in-house adtech platform, AdVantage, has shown proof of concept and initial operational success, indicating potential for future revenue growth.
- Recurring revenue grew by 26% to EUR 62 million, making up 62% of total group revenue, signaling sustainable future growth.
- The performance of Playmaker HQ fell short of expectations, impacting North American operations and leading to a reduced acquisition price.
- The transition to revenue share in North America resulted in a decrease in revenue share earnings compared to Q2 2023.
- The company's North American sales were down 18% organically, with a 44% decrease in revenue share in the US.
- Google's policy revisions in early Q2 affected some media partnerships, impacting content rankings and audience scale.
- The integration of Playmaker Capital is still in progress, with limited contribution to Q2 earnings and margin dilution.
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Good morning, everyone, and thank you for joining us today for our Q2 webcast. My name is Mikkel Jacobsgaard and I'm the Vice President of Investor Relations, Group Strategy and Corporate Communications here at Better Collective. And as always, I'm joined by our Co-Founder and CEO, Jesper Sogaard; and CFO, Flemming Pedersen, who will help me walk you through our Q2 performance. Please follow me to the next slide.
We ask you to pay attention to this slide where we display our disclaimer regarding any forward-looking statements in today's webcast. Please turn to the next slide.
Here, you see today's agenda. Jesper will start by taking you through the highlights of Q2. Thereafter, Flemming will take you through the financial performance before handing the word back to Jesper for a business review and then we'll of course end the call with a Q&A session. Let's get going. Please turn to the next page as I hand over the word to Jesper.
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