Better Collective has invested in multiple of these smaller cap companies and with a better than expected Q3 2025, it appears the company will continue to take its place as an important player within esports hotshots.
Better Collective Q3 2025 Financial Report
The company’s core esports assets including HLTV and FUTBIN brought in €4.4m ($4.8m) during the period, down 3% from the same period in 2019. Nonetheless, strong attendance and sponsorship drove the esports division to an impressive 53% EBITDA margin, which is testament to its operating leverage.
HLTV continues to hold a monopoly over the Counter-Strike 2 community with unrivaled matches, player rankings, and data analysis. Meanwhile, on the football simulation front, FUTBIN is simply the place to be for EA SPORTS FC fans, three million plus visit the site every day in order to utilise its tools for squad building and tracking transfer markets.
Better Collective has reported esports as a separate, standalone reporting segment on a separate line starting in Q2 2025 and defining it Force Post Split shows its importance to the future of the company.
In a statement, CEO Jesper Søgaard positioned esports as a cornerstone for sustained expansion, even as recent periods have shown tempered overall progress.
The segment faced headwinds from subdued engagement ahead of the EA FC 26 launch and a global slump in cost per mile (CPM) ad pricing. Still, the team is ramping up advanced revenue strategies to counter these pressures.
Key Metrics and Forward Momentum
That resulted in total revenue of €78 million ($85 million) for the quarter a 4% decrease from €81 million, although much of that decline was driven by an atypically low sports betting win margin that stripped away around €10 million.
On an adjusted basis, EBITDA before one-off items fell 8% to €21 million, including €4 million of costs related to the regulatory reform in Brazil and a €2 million currency headwind.
Nevertheless, Better Collective reiterated its guidance for the full year 2025 with revenue expected in the range of €320–350m and EBITDA forecast between €100-120m. Key milestones to take away include that the firm’s recurring revenue reached €50 million, representing 64% of its total a sign of the health of its underlying business.
Søgaard commented, “Excluding the atypical low win margin in sports betting, we’re seeing a return to organic revenue expansion. This reflects the robustness and adaptability of our multifaceted portfolio.”
Notable progress included the September launch of Playbook, Better Collective’s pioneering AI based betting companion. Having already enabled millions of bets via key agreements, the tool is a significant step-change. Søgaard called that “a game changing accomplishment,” shifting focus from adding users to their app, to keeping them engaged on the platform, and opening up possibilities for AI driven enhancements in 2026.
