Reported Earnings • May 22
First quarter 2026 earnings released: EPS: €0.12 (vs €0.058 in 1Q 2025) First quarter 2026 results: EPS: €0.12 (up from €0.058 in 1Q 2025). Revenue: €86.3m (up 4.5% from 1Q 2025). Net income: €7.32m (up 101% from 1Q 2025). Profit margin: 8.5% (up from 4.4% in 1Q 2025). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to kr173, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr341 per share. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr309 per share. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to kr173, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr173, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 1.9% over the past three years. Anuncio • Mar 07
Bolero Holdings SARL acquired 5.24% stake in Better Collective A/S (OM:BETCO). Bolero Holdings SARL acquired 5.24% stake in Better Collective A/S (OM:BETCO) on March 6, 2026. As a result of the acquisition, Triton Administration (Jersey) Limited has exceeded the 5% threshold of the share capital and voting rights in Better Collective A/S.
Bolero Holdings SARL completed the acquisition of 5.24% stake in Better Collective A/S (OM:BETCO) on March 6, 2026. Anuncio • Mar 05
Better Collective A/S (OM:BETCO) announces an Equity Buyback for 10% of its issued share capital, for €40 million. Better Collective A/S (OM:BETCO) announces a share repurchase program. Under the program, the company will repurchase up to €40 million worth of it's shares. The maximum number of shares that can be bought under the program cannot exceed 10% of the Company’s total outstanding share capital. The purpose of the program is to cover future obligations of the Company relating to acquisitions, cover share delivery obligations relating to long-term incentive (LTI) programs, and potentially optimizing and improving the capital structure of the Company by reducing the capital. During the program, no shares will be purchased at a price exceeding the higher of the price of the latest independent trade and the highest current independent bid on the trading venue where the purchase is carried out. The program will be funded via cash. The program is valid till March 3, 2027. As of March 5, 2026, the company had 451,449 shares in treasury. Anuncio • Mar 03
Better Collective A/S, Annual General Meeting, Mar 24, 2026 Better Collective A/S, Annual General Meeting, Mar 24, 2026, at 12:00 W. Europe Standard Time. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: €0.38 (vs €0.55 in FY 2024) Full year 2025 results: EPS: €0.38 (down from €0.55 in FY 2024). Revenue: €336.7m (down 9.4% from FY 2024). Net income: €23.6m (down 31% from FY 2024). Profit margin: 7.0% (down from 9.2% in FY 2024). Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to kr173, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 8.9% over the past three years. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr123, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 31% over the past three years. Anuncio • Nov 23
Better Collective A/S to Report Fiscal Year 2026 Results on Feb 24, 2027 Better Collective A/S announced that they will report fiscal year 2026 results on Feb 24, 2027 Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: €0.03 (vs €0.018 in 3Q 2024) Third quarter 2025 results: EPS: €0.03 (up from €0.018 in 3Q 2024). Revenue: €78.3m (down 3.6% from 3Q 2024). Net income: €1.64m (up 47% from 3Q 2024). Profit margin: 2.1% (up from 1.4% in 3Q 2024). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Interactive Media and Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to kr173, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 24x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to kr173, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to kr173, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to kr173, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 29x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to kr173, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 30x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 20% over the past three years. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: €0.09 (vs €0.16 in 2Q 2024) Second quarter 2025 results: EPS: €0.09 (down from €0.16 in 2Q 2024). Revenue: €81.5m (down 18% from 2Q 2024). Net income: €5.28m (down 49% from 2Q 2024). Profit margin: 6.5% (down from 10% in 2Q 2024). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Interactive Media and Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr173, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 30x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr173, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 31x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to kr173, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 29x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 22% over the past three years. Anuncio • May 29
Better Collective A/S (OM:BETCO) commences an Equity Buyback Plan for 6,195,887 shares, representing 9.82% of its issued share capital, under the authorization approved on April 22, 2025. Better Collective A/S (OM:BETCO) commences share repurchases on May 22, 2025, under the program mandated by the shareholders in the Annual General Meeting held on April 22, 2025. As per the mandate, the company is authorized to repurchase up to 6,195,887 shares, representing 9.82% of its issued share capital. The shares will be repurchased at a price per share within the band of prices (spread) applying on the Exchange. The program is valid until the annual general meeting to be held in 2026. As of March 28, 2025, the company had 63,076,627 shares in issue.
On May 21, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to 6,195,887 shares for €10 million. The purpose of the program is to improve the capital structure of the Company by reducing the capital and partially cover the share delivery obligations relating to long-term incentive (LTI) programs. The repurchases will take place from May 22, 2025, to August 26, 2025. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: €0.058 (vs €0.13 in 1Q 2024) First quarter 2025 results: EPS: €0.058 (down from €0.13 in 1Q 2024). Revenue: €82.6m (down 13% from 1Q 2024). Net income: €3.64m (down 52% from 1Q 2024). Profit margin: 4.4% (down from 7.9% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Interactive Media and Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to kr173, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr270 per share. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to kr173, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 26x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr279 per share. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr118, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr205 per share. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 31x in the Interactive Media and Services industry in the United Kingdom. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at kr289 per share. Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: €0.55 (vs €0.72 in FY 2023) Full year 2024 results: EPS: €0.55 (down from €0.72 in FY 2023). Revenue: €371.5m (up 14% from FY 2023). Net income: €34.0m (down 15% from FY 2023). Profit margin: 9.2% (down from 12% in FY 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Interactive Media and Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to kr173, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 24x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 2.7% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 42% After last week's 42% share price gain to kr173, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 25x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 4.1% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to kr173, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 2.6% over the past three years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: €0.018 (vs €0.056 in 3Q 2023) Third quarter 2024 results: EPS: €0.018 (down from €0.056 in 3Q 2023). Revenue: €81.2m (up 7.6% from 3Q 2023). Net income: €1.12m (down 64% from 3Q 2023). Profit margin: 1.4% (down from 4.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Interactive Media and Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr173, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 39% After last week's 39% share price decline to kr136, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 27% over the past three years. Anuncio • Oct 25
Better Collective A/S Updates Earnings Guidance for the Full Year 2024 Better Collective A/S updated earnings guidance for the full year 2024. For the year, the company expects revenue of EUR 355 million - EUR 375 million (previously EUR 395 million - EUR 425 million). Anuncio • Oct 11
Better Collective Announces Nomination Committee Appointments Better Collective has appointed its nomination committee, based on ownership data as per August 31, 2024. Better Collective’s Nomination Committee shall consist of four members, representing the three largest shareholders as per the end of August each year, together with the Chair of the Board of Directors. In accordance with the shareholders’ decision, the nomination committee has been appointed and is composed by four members in total: Søren Jørgensen, appointed by Chr. Dam Holding. Troels Bisgaard Vig, appointed by J. Søgaard Holding. Anders Lund, appointed by BLS Capital Aondsmæglerselskab A/S. Jens Bager, Chair of the Board of Directors, Better Collective. Recent Insider Transactions • Sep 01
Independent Chairman recently sold kr35m worth of stock On the 28th of August, Jens Bager sold around 150k shares on-market at roughly kr231 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jens' only on-market trade for the last 12 months. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: €0.16 (vs €0.15 in 2Q 2023) Second quarter 2024 results: EPS: €0.16 (up from €0.15 in 2Q 2023). Revenue: €99.1m (up 27% from 2Q 2023). Net income: €10.3m (up 24% from 2Q 2023). Profit margin: 10% (in line with 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Interactive Media and Services industry in the United Kingdom. Anuncio • May 30
Better Collective A/S (OM:BETCO) commences an Equity Buyback for 6,289,950 shares, representing 10% of its issued share capital, under the authorization approved on April 22, 2024. Better Collective A/S (OM:BETCO) commences share repurchases on May 22, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 22, 2024. As per the mandate, the company is authorized to repurchase up to 6,289,950 shares, representing 10% of its issued share capital. The shares will be repurchased at a price per share within the band of prices (spread) applying on the Exchange. The program is valid until the annual general meeting to be held in 2025. As of March 25, 2024, the company had 62,899,505 shares in issue.
On May 21, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to 6,289,950 shares for €2.4 million. The purpose of the program is to partially cover the share delivery obligations relating to the acquisition of Ace Odds. The repurchases will take place from May 22, 2024, to July 3, 2024. New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (7.9% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr250, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 11% over the past year. Simply Wall St's valuation model estimates the intrinsic value at kr376 per share. Reported Earnings • May 22
First quarter 2024 earnings released: EPS: €0.13 (vs €0.38 in 1Q 2023) First quarter 2024 results: EPS: €0.13 (down from €0.38 in 1Q 2023). Revenue: €95.0m (up 8.1% from 1Q 2023). Net income: €7.55m (down 64% from 1Q 2023). Profit margin: 7.9% (down from 24% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Interactive Media and Services industry in the United Kingdom. Buy Or Sell Opportunity • May 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to kr290. The fair value is estimated to be kr366, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to kr173, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 18x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 19% over the past year. Simply Wall St's valuation model estimates the intrinsic value at kr215 per share. Buy Or Sell Opportunity • Apr 25
Now 21% undervalued Over the last 90 days, the stock has risen 1.7% to kr285. The fair value is estimated to be kr362, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Buy Or Sell Opportunity • Apr 11
Now 20% undervalued Over the last 90 days, the stock has risen 15% to kr285. The fair value is estimated to be kr358, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Anuncio • Mar 26
Better Collective A/S to Report Q3, 2024 Results on Nov 13, 2024 Better Collective A/S announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: €0.72 (vs €0.88 in FY 2022) Full year 2023 results: EPS: €0.72 (down from €0.88 in FY 2022). Revenue: €326.7m (up 21% from FY 2022). Net income: €39.8m (down 17% from FY 2022). Profit margin: 12% (down from 18% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Interactive Media and Services industry in the United Kingdom. Buy Or Sell Opportunity • Mar 11
Now 21% undervalued Over the last 90 days, the stock has risen 17% to kr269. The fair value is estimated to be kr340, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to kr173, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Interactive Media and Services industry in the United Kingdom. Total loss to shareholders of 7.9% over the past year. Simply Wall St's valuation model estimates the intrinsic value at kr214 per share. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: €0.72 (vs €0.88 in FY 2022) Full year 2023 results: EPS: €0.72 (down from €0.88 in FY 2022). Revenue: €326.7m (up 21% from FY 2022). Net income: €39.8m (down 17% from FY 2022). Profit margin: 12% (down from 18% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Interactive Media and Services industry in the United Kingdom. Buy Or Sell Opportunity • Feb 09
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to kr173. The fair value is estimated to be kr257, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. New Risk • Feb 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Anuncio • Feb 08
Better Collective A/S (OM:BETCO) completed the acquisition of Playmaker Capital Inc. (TSXV:PMKR) from a group of shareholders. Better Collective A/S (OM:BETCO) entered into a definitive agreement to acquire Playmaker Capital Inc. (TSXV:PMKR) from a group of shareholders for approximately CAD 170 million on November 6, 2023. Under the transaction, the holders of Playmaker Capital common shares will receive consideration of CAD 0.7 per share. The consideration comprises cash and shares of Better Collective. Playmaker Capital’s shareholders will be able to elect either CAD 0.70 in cash or 0.0206 shares of Better Collective per Playmaker Capital common share, subject to proration and an aggregate cap of 65% shares in Better Collective and 35% in cash. Playmaker Capital shareholders who do not elect cash or shares of Better Collective (subject to proration) will receive a default consideration of CAD 0.245 in cash (35%) and 0.0134 shares of Better Collective (65%) per Playmaker Capital common share. The cash consideration will be paid by existing cash on the balance sheet and already established bank credit facilities. Following the closing of the transaction, Playmaker Capital will be a wholly owned subsidiary of Better Collective. In case of temination under certain circumstances, either party will pay a termination fee of CAD 5 million to other party.The Transaction is to be effected by way of a court-approved plan of arrangement and is expected to close in the first quarter of 2024, subject to receipt of 66 2/3% of the votes cast by Playmaker shareholders and court approvals, a required regulatory approval and customary closing conditions. Completion of the Transaction is not subject to any financing condition. Playmaker’s board of directors has unanimously concluded that the Transaction is in the best interests of Playmaker and recommends that Playmaker shareholders vote in favor of the Transaction. Playmaker shareholders representing approximately 50% of Playmaker’s issued and outstanding common shares, including several of Playmaker’s largest shareholders and each of the Company’s directors and named executive officers, have entered into a voting support agreement pursuant to which each has committed to vote in favour of the Transaction. The transaction is subject to other customary closing conditions, including the approval of certain U.S. gaming authorities and approval under the Investment Canada Act. As of January 22, 2024, Playmaker Capital shareholders approved the transaction. The transaction is expected to close in early February. As of January 31, 2024, Playmaker Capital has received approval from the Minister of Canadian Heritage under the Investment Canada Act. Playmaker is also pleased to announce that the Ontario Superior Court (Commercial List) issued a final order approving the Arrangement on January 24, 2024. Following receipt of Heritage Approval and the Final Order, all conditions to closing of the Arrangement have been satisfied or waived, save for those conditions to be satisfied as part of the closing process. The Arrangement is expected to close on February 6, 2024.Canaccord Genuity Corp. acted as independent financial advisor to Playmaker’s board of directors and also delivered a fairness opinion to Playmaker’s board of directors. Oakvale Capital LLP is acting as financial advisor and Brandon Hoffman of Goodmans LLP is acting as legal advisor to Playmaker in connection with the Transaction. Moelis & Company LLC are acting as exclusive financial advisor, Mario Nigro and John Lee of Stikeman Elliott LLP, BechBruun Law Firm P/S and Greenberg Traurig LLP are acting as legal advisors and PriceWaterhouseCoopers acted as accounting and tax advisor to Better Collective in connection with the transaction. Odyssey Trust Company acted as depositary to Better Collective.Better Collective A/S (OM:BETCO) completed the acquisition of Playmaker Capital Inc. (TSXV:PMKR) from a group of shareholders on February 6, 2024. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to kr173, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 28% over the past year. Simply Wall St's valuation model estimates the intrinsic value at kr269 per share. Buying Opportunity • Dec 15
Now 37% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be kr277, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings is also forecast to grow by 23% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to kr173, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 20x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 25% over the past year. Recent Insider Transactions • Nov 24
CFO & Executive VP recently bought kr1.6m worth of stock On the 20th of November, Flemming Pedersen bought around 7k shares on-market at roughly kr238 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Flemming's only on-market trade for the last 12 months. New Risk • Nov 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: €0.056 (vs €0.13 in 3Q 2022) Third quarter 2023 results: EPS: €0.056 (down from €0.13 in 3Q 2022). Revenue: €75.4m (up 26% from 3Q 2022). Net income: €3.11m (down 55% from 3Q 2022). Profit margin: 4.1% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Interactive Media and Services industry in the United Kingdom. Anuncio • Nov 17
Better Collective A/S to Report Q1, 2024 Results on May 21, 2024 Better Collective A/S announced that they will report Q1, 2024 results on May 21, 2024 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 37% After last week's 37% share price decline to kr173, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 20% over the past year. Anuncio • Nov 08
Better Collective A/S (OM:BETCO) entered into a definitive agreement to acquire Playmaker Capital Inc. (TSXV:PMKR) from Jordan Gnat, Relay Ventures Parallel Fund III L.P. managed by Relay Ventures and others for approximately CAD 170 million. Better Collective A/S (OM:BETCO) entered into a definitive agreement to acquire Playmaker Capital Inc. (TSXV:PMKR) from Jordan Gnat, Relay Ventures Parallel Fund III L.P. managed by Relay Ventures and others for approximately CAD 170 million on November 6, 2023. Under the transaction, the holders of Playmaker Capital common shares will receive consideration of CAD 0.7 per share. The consideration comprises cash and shares of Better Collective. Playmaker Capital’s shareholders will be able to elect either CAD 0.70 in cash or 0.0206 shares of Better Collective per Playmaker Capital common share, subject to proration and an aggregate cap of 65% shares in Better Collective and 35% in cash. Playmaker Capital shareholders who do not elect cash or shares of Better Collective (subject to proration) will receive a default consideration of CAD 0.245 in cash (35%) and 0.0134 shares of Better Collective (65%) per Playmaker Capital common share. The cash consideration will be paid by existing cash on the balance sheet and already established bank credit facilities. Following the closing of the transaction, Playmaker Capital will be a wholly owned subsidiary of Better Collective.
The Transaction is to be effected by way of a court-approved plan of arrangement and is expected to close in the first quarter of 2024, subject to receipt of 66 2/3% of the votes cast by Playmaker shareholders and court approvals, a required regulatory approval and customary closing conditions. Completion of the Transaction is not subject to any financing condition. Playmaker’s board of directors has unanimously concluded that the Transaction is in the best interests of Playmaker and recommends that Playmaker shareholders vote in favor of the Transaction. Playmaker shareholders representing approximately 50% of Playmaker’s issued and outstanding common shares, including several of Playmaker’s largest shareholders and each of the Company’s directors and named executive officers, have entered into a voting support agreement pursuant to which each has committed to vote in favour of the Transaction. The Transaction is subject to other customary closing conditions, including the approval of certain U.S. gaming authorities and approval under the Investment Canada Act.
Canaccord Genuity Corp. acted as independent financial advisor to Playmaker’s board of directors and also delivered a fairness opinion to Playmaker’s board of directors. Oakvale Capital LLP is acting as financial advisor and Goodmans LLP is acting as legal advisor to Playmaker in connection with the Transaction. Moelis & Company LLC are acting as exclusive financial advisor, Stikeman Elliott LLP, BechBruun Law Firm P/S and Greenberg Traurig LLP are acting as legal advisors and PriceWaterhouseCoopers acted as accounting and tax advisor to Better Collective in connection with the transaction. New Risk • Nov 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk High level of debt (58% net debt to equity). Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment deteriorates as stock falls 35% After last week's 35% share price decline to kr173, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 23% over the past year. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to kr173, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 20x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 30% over the past year. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 21x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 29% over the past year. Anuncio • Sep 19
Better Collective A/S (OM:BETCO) agreed to acquire TIPS-bladet A/S from Henrik Stegger Nielsen for €6.5 million. Better Collective A/S (OM:BETCO) agreed to acquire TIPS-bladet A/S from Henrik Stegger Nielsen for €6.5 million on September 18, 2023. The total purchase price will be €6.5 million on a cash and debt free basis paid in three installments and will be financed with cash. Henrik Stegger Nielsen joins Better Collective together with all current employees at Tipsbladet. The transaction is expected to close by October 2, 2023. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to kr173, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 19% over the past year. Anuncio • Sep 06
Better Collective A/S (OM:BETCO) acquired Goalmedia Tecnologia E Marketing Digital LTDA. Better Collective A/S (OM:BETCO) acquired Goalmedia Tecnologia E Marketing Digital LTDA. on September 4, 2023. The consideration will be paid through cash. The deal includes other smaller assets in the Torcedores.com portfolio, and Better Collective will be taking over all operations.
Better Collective A/S (OM:BETCO) completed the acquisition of Goalmedia Tecnologia E Marketing Digital LTDA. on September 4, 2023. Anuncio • Sep 01
Better Collective A/S (OM:BETCO) completed the acquisition of Media portfolio of Everysport Group from Everysport Group AB (publ) (NGM:EVERY). Better Collective A/S (OM:BETCO) entered into an agreement to acquire Media portfolio of Everysport Group from Everysport Group AB (publ) (NGM:EVERY) for SEK 44 million on August 15, 2023. Media portfolio valued at SEK 45 million, purchase price SEK 44 million after deductions. Paid in three installments: SEK 22.5 million upfront, SEK 10.6 million after six months, and SEK 10.6 million after twelve months. The closing of the transaction, which is subject to customary conditions, is expected to August 31, 2023.Better Collective A/S (OM:BETCO) completed the acquisition of Media portfolio of Everysport Group from Everysport Group AB (publ) (NGM:EVERY) on August 31, 2023. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: €0.15 (vs €0.13 in 2Q 2022) Second quarter 2023 results: EPS: €0.15 (up from €0.13 in 2Q 2022). Revenue: €78.1m (up 39% from 2Q 2022). Net income: €8.30m (up 17% from 2Q 2022). Profit margin: 11% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Interactive Media and Services industry in the United Kingdom. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to kr173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Interactive Media and Services industry in the United Kingdom. Total returns to shareholders of 18% over the past year. Anuncio • Aug 17
Better Collective A/S (OM:BETCO) entered into an agreement to acquire Media portfolio of Everysport Group from Everysport Group AB (publ) (NGM:EVERY) for SEK 44 million. Better Collective A/S (OM:BETCO) entered into an agreement to acquire Media portfolio of Everysport Group from Everysport Group AB (publ) (NGM:EVERY) for SEK 44 million on August 15, 2023. Media portfolio valued at SEK 45 million, purchase price SEK 44 million after deductions. Paid in three installments: SEK 22.5 million upfront, SEK 10.6 million after six months, and SEK 10.6 million after twelve months. The closing of the transaction, which is subject to customary conditions, is expected to August 31, 2023. Anuncio • Aug 09
Better Collective A/S Announces Executive Changes Better Collective A/S at the meeting, the shareholders approved the proposals from the nomination committee regarding election of Britt Boeskov and René Rechtman as new members of the board of directors. The shareholders were informed that the board member Klaus Holse wished to resign as member of the board of directors with effect as of the extraordinary general meeting. 
