Better Collective A/S (SE:BETCO)
:BETCO
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Better Collective A/S
(BETCO)
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Rating:66Neutral
Price Target:
kr135.00
▼(-4.39% Downside)
Action:Reiterated
Date:05/22/26
The score is driven primarily by solid financial performance (growth re-acceleration and strong free cash flow) and supportive earnings commentary with reiterated guidance and strong cash conversion. Offsetting these positives, technical signals are weak with the price below key moving averages and negative momentum, while valuation appears only moderate with a ~25.7 P/E and no dividend yield provided.
Positive Factors
Strong cash generation and capital allocation
High cash conversion and meaningful capital reserves signal durable free cash flow generation and financial flexibility. Consistent conversion into cash supports buybacks and reserve build-up, enabling cyclical resilience, disciplined capital returns and investment even if top-line cycles fluctuate.
Negative Factors
Regulatory risk in Brazil
Ongoing regulatory uncertainty in Brazil poses a structural risk to addressable market and monetization. Changes can alter legality, redirect users to unlicensed operators and depress referrals and deposits long-term, making revenue from that market volatile and harder to forecast across planning horizons.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation and capital allocation
High cash conversion and meaningful capital reserves signal durable free cash flow generation and financial flexibility. Consistent conversion into cash supports buybacks and reserve build-up, enabling cyclical resilience, disciplined capital returns and investment even if top-line cycles fluctuate.
Read all positive factors
Better Collective A/S (BETCO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr6.97B
Dividend YieldN/A
Average Volume (3M)94.34K
Price to Earnings (P/E)25.7
Beta (1Y)0.36
Revenue Growth-9.37%
EPS Growth-8.66%
CountrySE
Employees1,556
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.44
Shares Outstanding58,754,850
10 Day Avg. Volume54,708
30 Day Avg. Volume94,342
Financial Highlights & Ratios
PEG Ratio-0.89
Price to Book (P/B)1.05
Price to Sales (P/S)1.92
P/FCF Ratio12.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr135.00Price Target Upside-4.39% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.82
Revenue Forecast (FY)kr364.52M
Better Collective A/S Business Overview & Revenue Model
Company Description
Better Collective A/S, together with its subsidiaries, operates as a sports betting media company worldwide. The company primarily focuses on online sports betting and gambling platforms. It offers various community-based digital platforms, includ...
How the Company Makes Money
Better Collective primarily makes money by monetizing its online audiences and marketing capabilities for sports betting and iGaming operators. A core revenue stream is performance marketing (affiliate marketing), where Better Collective earns fee...
Better Collective A/S Earnings Call Summary
Earnings Call Date:May 20, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 20, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive tone: Better Collective returned to growth with revenue up (5% reported, 9% in constant currencies), EBITDA up 14% and multiple strengthening indicators (recurring revenue, 46% growth in North American revenue share, 15% higher deposits). Strategic initiatives (global X/Playbook partnership, prediction market positioning, talent-led media) and strong cash generation/return of capital (share buyback) are notable positives. The company also faces tangible headwinds—foreign exchange (~EUR -4m), sports win margin (~EUR -1m), and regulatory uncertainty in Brazil (~EUR -1m) that have constrained customer volumes (NDCs below all-time highs) and add geopolitical/regulatory risk. Overall, highlights and growth drivers materially outweigh the challenges in the quarter, while management kept guidance unchanged.Positive Updates
Return to Revenue Growth
Reported revenue of EUR 86 million in Q1 2026, up 5% year-over-year (9% growth in constant currencies).
Negative Updates
Regulatory Headwinds in Brazil
Regulatory changes in Brazil negatively impacted revenue by approximately EUR 1 million in Q1; company highlighted ongoing political unpredictability and the risk of further regulatory shifts (including discussion of a potential ban, which management views as unlikely but possible).
Read all updates
Q1-2026 Updates
Positive
Negative
Return to Revenue Growth
Reported revenue of EUR 86 million in Q1 2026, up 5% year-over-year (9% growth in constant currencies).
Read all positive updates
Company Guidance
Management reiterated unchanged 2026 guidance: organic revenue growth of 7–12%, EBITDA growth of 8–18%, an annual share buyback of EUR 40m and net debt/EBITDA below 3x, while keeping 2027–28 targets of positive organic growth, a 35–40% EBITDA margin, continued strong cash conversion and net debt/EBITDA <3x. They said Q1 supports this trajectory, with Q1 revenue of EUR 86m (5% reported, 9% in constant currencies), EBITDA before special items EUR 25m (+14% YoY) and a 29% EBITDA margin; recurring revenue of EUR 50m (EUR 40m from revenue share); North America revenue share up 46% to EUR 6m; 308,000 new depositing customers; value of deposits EUR 799m (+15% YoY). Cash conversion was 101% before special items, capital reserves stood at EUR 75m (EUR 20m cash, EUR 55m unused facilities), and the company executed nearly EUR 7m of buybacks in Q1 under a EUR 40m program.Better Collective A/S Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 344.86M | 342.98M | 371.49M | 326.69M | 269.30M | 177.05M |
| Gross Profit | 87.68M | 95.60M | 151.32M | 138.47M | 116.87M | 71.38M |
| EBITDA | 106.52M | 103.97M | 109.83M | 115.12M | 83.62M | 55.46M |
| Net Income | 27.56M | 24.03M | 34.01M | 39.84M | 48.08M | 17.29M |
Balance Sheet | ||||||
| Total Assets | 1.10B | 1.07B | 1.17B | 937.86M | 785.23M | 597.38M |
| Cash, Cash Equivalents and Short-Term Investments | 20.26M | 13.45M | 37.67M | 50.36M | 31.50M | 28.60M |
| Total Debt | 279.07M | 271.92M | 276.63M | 264.69M | 236.24M | 123.89M |
| Total Liabilities | 454.77M | 441.57M | 486.19M | 502.59M | 372.31M | 252.53M |
| Stockholders Equity | 642.30M | 628.81M | 685.93M | 435.27M | 412.92M | 344.85M |
Cash Flow | ||||||
| Free Cash Flow | 48.42M | 51.79M | 12.02M | 56.40M | -50.06M | 19.28M |
| Operating Cash Flow | 58.18M | 52.14M | 49.50M | 89.01M | 48.20M | 31.56M |
| Investing Cash Flow | -29.45M | -35.33M | -154.83M | -106.25M | -112.63M | -219.22M |
| Financing Cash Flow | -33.87M | -41.32M | 99.15M | 29.33M | 65.74M | 188.76M |
Better Collective A/S Technical Analysis
Negative
141.20
Price Trends
136.96
Negative
127.83
Negative
123.46
Negative
Market Momentum
-4.90
Positive
26.13
Positive
8.68
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BETCO, the sentiment is Negative. The current price of 141.2 is above the 20-day moving average (MA) of 133.60, above the 50-day MA of 136.96, and above the 200-day MA of 123.46, indicating a bearish trend. The MACD of -4.90 indicates Positive momentum. The RSI at 26.13 is Positive, neither overbought nor oversold. The STOCH value of 8.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BETCO.
Better Collective A/S Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr10.75B | 23.91 | 8.26% | 1.14% | 5.39% | 7.51% | |
68 Neutral | kr2.96B | 22.71 | 32.28% | 1.41% | 6.61% | 20.90% | |
66 Neutral | kr6.97B | 25.73 | ― | ― | -9.37% | -8.66% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | kr1.73B | 14.33 | ― | ― | -2.24% | -18.90% | |
54 Neutral | kr1.09B | 47.05 | ― | 1.92% | -40.78% | 2331.24% | |
51 Neutral | kr3.46B | -22.60 | ― | ― | 22.58% | 39.84% |
* Technology Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.