Q4 of 2025 in the iGaming industry closed out a very busy year. Betsson, BetMGM, Flutter, Entain, Wynn Resorts, and DraftKings all had a fair share of wins and challenges,...
Better Collective generates €94M in Q4 revenue
Better Collective reported its 2025 Q4 results, generating €94 million in revenue, which was a 2% year-on-year decrease.
On the other hand, Q4 EBITDA before special items reached €37 million, which was the highest EBITDA ever recorded in a single quarter. The adjusted EBITDA margin stood at 39.1%.
Better Collective wrote:
“It is important to note that the fourth quarter marked a return to growth in constant currencies. When adjusting for the unusually low profit margins in sports during both the third and fourth quarters, which were due to customer-friendly sports results, the underlying business showed growth for two consecutive quarters and reported operational profit growth in the fourth quarter.”
Jesper Søgaard, co-founder & co-CEO of Better Collective, added:
“2025 was a transformational year for Better Collective. Despite some significant external headwinds, we stayed disciplined and structurally strengthened our business while investing in key AI innovations such as Playbook and FanReach that will help drive our future growth. I am pleased to report that we ended the year with our highest EBITDA ever, a milestone that speaks directly to the hard work of my colleagues across the globe.”
Adjusted operating profit for Q4 was €25.7 million, with an adjusted operating margin of 27.3%. Profit before tax comprised €19.3 million, while profit after tax stood at €13 million, a 13.3% decrease compared to 2024.
Lastly, cash flow from operating activities generated €17.8 million.
Our newest iGaming Q4 2025 affiliate report is here, breaking down how the industry’s top players, Catena Media, Better Collective, Gentoo Media, and Raketech, handled the...
