betr Entertainmen (BBT) investor relations material

Executive summary

• Q3 FY26 saw strong customer activity, improved acquisition and retention, and a net win margin returning to target range, supported by brand relaunch, product innovation, and strategic marketing investments.

• Operational efficiency initiatives and data-driven promotional targeting led to a 10.7% reduction in promotion costs year-over-year.

• Streamlined operating model and cost actions are expected to deliver AUD 6 million (~$6m) in annualized run rate savings from Q4 onwards.

• Focus on higher-quality, recreational customers increased first-time depositors by 35% and customer stickiness by 22% year-over-year.

Financial highlights

• Q3 FY26 turnover reached AUD 383 million ($383.0m), up 2% year-over-year; YTD turnover rose 16.6% to $1,190.4m.

• Net Win for Q3 was AUD 38.2 million ($38.2m), up 1.2% year-over-year; YTD Net Win increased 8.8% to $114.2m.

• Gross Win for Q3 was $50.3m, down 2.7% year-over-year; Gross Win Margin for Q3 was 13.1%, down 0.6pp year-over-year.

• Active customers grew to 157,264 by quarter-end, with a higher share of activity from high-quality customers.

• Cash balance at March 31, 2026, was AUD 28.7 million ($28.7m), including AUD 12.7 million ($12.7m) of client balances; net cash outflow from operating activities was AUD 8.9 million ($8.9m), impacted by non-recurring items.

Outlook and guidance

• Reaffirmed normalized EBITDA guidance: AUD 5–8 million ($5m–$8m) for H2 FY26 and AUD 13–19 million ($13m–$19m) for FY27.

• FY27 top-line growth expected in the mid to high single digits, with net win margins targeted at or above 10%.

• April trading in Q4 is in line with assumptions, with Net Win margin above 10%, supporting guidance.

• Business expected to be cash flow neutral to positive in Q4, assuming net win margins remain above 10%.

• Ongoing on-market buyback of up to 10% of issued share capital and advancing discussions for inorganic growth and consolidation opportunities.