Better Collective Blame Sports Results & Regulation for Q3 Revenue Drop

Digital sports-media group Better Collective disclosed its Q3 2025 interim results, noting a revenue drop of 3.6% and 8% decrease in operating profit. 

The company attributed the loss of revenue to customer-friendly results in September and regulatory impacts in Brazil. 

Recurring income reached €49.96 million ($58.21 million), accounting for 64% of total revenue — up from 59 % a year earlier. Management described this as a “structural shift toward predictability and margin stability.”

Better Collective saw a drop in Q3. Image Credit: Better Collective

HLTV Performing Strongly and FUTBIN Expects EAFC 26 Boost

Earlier this year, the company said it would start reporting esports as a standalone section. The segment, which includes HLTV and FUTBIN, delivered a 53 % EBITDA margin, the highest of any division. Yet, it also saw a revenue decline of 3%, bringing in €4.4 million ($5.13 million). 

Sponsorship revenue increased by 28%, but this was offset by a 14% rise in costs. The additional costs were attributed to investments in HLTV and FUTBIN, with mixed results. 

In the Q3 report, CEO Jesper Søgaard commented, “In our Esports business, HLTV continues to perform strongly, supported by sustained high demand for its premium inventory and audience reach.”

FUTBIN, however, has faced a challenging year, with CPM revenue decreasing by 23%, primarily due to lower player engagement within the community.

The company hopes the release of EAFC 26 will benefit the site. Søgaard said that since the launch in September, it “is showing solid early engagement, providing a positive outlook for FUTBIN heading into the new game cycle.”

FUTBIN has suffered, but Better Collective expects improvements with the launch of EA FC 26. Image Credit: FUTBIN

Player-Friendly September Impacts Revenue

Overall revenue dropped 3.6% from €81 million ($94.37 million) to €78 million ($90.88 million). The company attributed this to player-friendly results in September, noting the month had a record low sports win margin. It said this impacted Q3 revenue by approximately €10 million ($11.65 million). 

Revenue in Brazil also suffered a negative impact of €4 million ($4.65 million), which was attributed to challenges adjusting to the newly regulated market.  

The company said the ability to withstand these negative impacts is “a clear sign of the strength and resilience of our diversified business model.” However, it will continue to look for improvement going forward.

AI Driven Growth A Target Going Forward

In September, Better Collective launched Playbook, an AI-powered betting solution, and said, “Within weeks, it has already driven millions of bets placed and shown exceptional growth.” 

Søgaard said, “This marks one of the most defining milestones in Better Collective’s history,” and added that he is confident the investment in the technology will pay dividends. 

More favorable results and greater engagement on the company’s key sites will also be needed to improve results in the next quarter.