Official Press Release: Impressive 115% Surge in EBITDA and Revenue for Better Collective in Q2 2023
Better Collective, a leading affiliate in the industry, has reported impressive financial results for Q2 2023. The company’s revenue during the quarter reached €78.1m, showing a significant 39% increase compared to Q2 2022’s figure of €56m.
Furthermore, Better Collective’s recurring revenue for Q2 2023 also saw substantial growth, reaching €45.8m compared to the previous year’s €27.6m.
The company’s EBITDA for Q2 2023 experienced remarkable growth as well, totaling €27.5m, which is a 115% increase compared to the previous year’s sum of €12.8m. This follows the consistent trend of Better Collective’s rapid EBITDA growth quarter after quarter.
While the company experienced an overall positive performance, it did see a slight downturn in its net interest-bearing debt, which rose to €257.4m from €219.1m in Q2 2022.
In light of these results, Better Collective CEO, Jesper Søgaard, expressed concerns about the rising influence of AI in search engines. He emphasized that as AI technology becomes more sophisticated, search engines are adapting to provide more accurate and personalized search results. These developments may lead to changes in algorithms and ranking criteria, potentially impacting the future search landscape.
Better Collective remains committed to its global expansion strategy and will continue to navigate the evolving digital landscape while staying at the forefront of industry trends.
Better Collective’s Q2 results indicate significant growth and updated targets for 2023. The company now expects revenue of €315-€325m and an EBITDA of €105-€115m. In contrast, Catena Media has experienced a decline in revenue and adjusted EBITDA. Better Collective’s shares have been steadily rising, with a market cap of SEK 12.43bn. Additionally, the company has successfully completed a €10m share buyback program. As artificial intelligence advances, search engines might undergo algorithm and ranking changes, potentially impacting the future of search.