Better Collective has confirmed that more than 300 employees, representing 15% of its workforce, were let go following a challenging Q3. This restructuring is part of a larger €50m cost reduction program aimed at realigning the affiliate business with current market dynamics, particularly in the US and Brazil.
For Q3 2024, Better Collective reported revenue of €81m [$85m], marking an 8% increase overall but reflecting a 6% drop in organic growth.
Recurring revenue, however, rose 14% to €53m [$56m], and EBITDA before special items reached €22m, up 14% year-on-year.
Despite these gains, Better Collective downgraded its 2024 guidance in October, lowering revenue forecasts to between €355m and €375m, down from the previously anticipated €395m-€425m range.
