Slide 1: Q2 2025 Webcast presentation
Q2 2025 Webcast presentation
Slide 2: Forward-looking statement
Forward-looking statement This presentation contains certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, contain wording such as “beli
Slide 3: Q2 highlights and business update
Q2 highlights and business update By Jesper Søgaard Co-CEO & co-founder
Slide 4: Better Collective’s Q2 results in line with expectations following a strong Q2 2024
Better Collective’s Q2 results in line with expectations following a strong Q2 2024 2025 Q2 highlights Group revenue of 82 mEUR and EBITDA of 23 mEUR as expected, with cost savings of 12 mEUR, finalizing the 50 mEUR cost efficiency program Esports reported as standalone, high-margin segment due to audi
Slide 5: Brazil: Solid performance amid regulatory uncertainty, long-term potential intact
Brazil: Solid performance amid regulatory uncertainty, long-term potential intact Market update: Brazil Solid first half performance post-market regulation, with strong adaptation from local teams Player migration and wagering activity still better than expected NDCs below expectations driven by unch
Slide 6: Esports: High-margin, scalable growth pillar driven by HLTV & FUTBIN
Esports: High-margin, scalable growth pillar driven by HLTV & FUTBIN Standalone business segment: Esports Esports ◆ World-leading CS2 platform, engaging fans with matches, ◆ Daily companion for EA FC players, with real-time databases, news, statistics, and rankings squad builders, market insights, a
Slide 7: YoY comparison is affected by Brazilian and North American market conditions
YoY comparison is affected by Brazilian and North American market conditions, major football tournaments, and a weaker US dollar Revenue and EBITDA1 impacts, Q2 2025 Revenue EBITDA1 1. Before special items 7
Slide 8: Our 2025 and long-term guidance remains unchanged
Our 2025 and long-term guidance remains unchanged 2025 and 2027 guidance 2025 2027 • Revenue: €320m-€350m • Revenue: Positive organic 1 • EBITDA : €100m-€120m growth from 2026 • Free cash flow: €55-€75m • EBITDA1 margin: 35-40% • Net debt to EBITDA: <3x • Net debt to EBITDA: <3x 1. Before special ite
Slide 9: Financial performance
Financial performance By Flemming Pedersen EVP & CFO
Slide 10: Revenue and EBITDA before special items were as expected
Revenue and EBITDA before special items were as expected Revenue & EBITDA before special items development, quarterly, 2022-2025 (mEUR) -18% -1%pt. Revenue EBITDA before special items margin 10
Slide 11: Revenue share income accounts for more than 3/4 of recurring revenue
Revenue share income accounts for more than 3/4 of Better Collective’s recurring revenue Recurring revenue development, quarterly, 2022-2025 (mEUR) Revenue share Other recurring revenue 11
Slide 12: Revenue share reached 180 mEUR in 2024, continuing its long-term growth trend
Revenue share reached 180 mEUR in 2024, continuing its long-term growth trend, while Brazilian regulation has impacted development in the last 12 months Revenue share development, yearly, 2018-LTM1 (mEUR) 1. As of end of Q2 2025 12
Slide 13: Group costs declined 16% YoY, driven by cost efficiency programme
Group costs declined 16% YoY, driven by cost efficiency programme Cost development (mEUR), quarterly, Q1 2020-Q2 2025 -16% Staff cost Direct cost related to revenue Other external expenses 13
Slide 14: NDC decline mainly isolated to Brazil; value of deposit confirms database strength
NDC decline mainly isolated to Brazil; value of deposit confirms database strength Quarterly # of NDC (‘000) and value of deposit development (mEUR), global, Q1 2020-Q2 2025 Decline origin: Brazil # of NDCs (‘000) Value of deposits (mEUR) Group (excl. Brazil) Brazil 14
Slide 15: Key takeaways
Key takeaways By Jesper Søgaard Co-CEO & co-founder
Slide 16: Q2 in line with expectations; strong platform for momentum into H2 and 2026
Q2 in line with expectations; strong platform for momentum into H2 and 2026 Key takeaways Group revenue of 82 mEUR and EBITDA of 23 mEUR as expected, with cost savings of 12 mEUR, finalizing the 50 mEUR cost efficiency program Esports reported as standalone, high-margin segment due to audit requirement
Slide 17: Q&A
Q&A Contact: Mikkel Munch-Jacobsgaard VP Investor Relations & Corporate Communication investor@bettercollective.com www.bettercollective.com