Q1 2025 Better Collective A/S Earnings Call Transcript
Key Points
- Better Collective AS (BTRCF) successfully navigated regulatory changes in Brazil, with player migration and post-regulation activity exceeding expectations.
- The company achieved significant cost savings, reducing expenses by approximately EUR9 million year over year in Q1, with a EUR50 million cost efficiency program on track.
- A strategic shift to a global management structure with three core business units (publishing, paid media, and eSports) aims to enhance scalability and operational efficiency.
- The company launched a new EUR10 million share buyback program, following a previous EUR10 million buyback earlier in the year.
- Better Collective AS (BTRCF) reported a record 450 million monthly visits across its platforms, indicating strong audience engagement and potential for alternative monetization strategies.
- Revenue declined by 14% compared to the previous quarter and 13% year over year, primarily due to regulatory changes in Brazil and tough comparables in the US.
- The absence of welcome bonuses in Brazil's new regulated environment slowed new customer acquisition, impacting NDC volumes.
- Lower marketing activity from US partners contributed to a EUR5 million revenue impact, reflecting challenges in the US market.
- EBITDA decreased by EUR7 million in the quarter, influenced by revenue-related impacts from Brazil and the US.
- The ongoing ban on welcome bonuses in Brazil poses a challenge for customer acquisition and market competitiveness.
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Good morning, everyone. My name is Mikkel Jacobsgaard and thank you for joining us today for our Q1 2025 webcast. I'm joined as always, by our Co-Founder and now Co-CEO, Jesper Soegaard and CFO, Flemming Pedersen, who will provide today's business update in connection with our Q1 report that was disclosed yesterday. 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 as I hand over the word to Jesper for the first quarter highlights.
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Thank you, Mikkel. Good morning, all. And thank you for joining today's webcast. Let's dive into the Q1 highlights. Please follow me to the next slide. Before we dive into the numbers, I want to
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