betr Entertainmen (BBT) investor relations material

Executive summary

• Achieved strong Q1 FY2026 trading momentum with turnover up 27% year-on-year and a 10.5% net win margin, outpacing a near-flat market and indicating market share gains.

• Completed PointsBet offer, securing a 27.7% stake and executing a selective buyback, positioning for future synergies and enhancing exposure to a profitable business.

• Launched a refreshed brand and innovative products, including a global-first live tracker and Sky Racing integration, driving customer engagement and higher net win per active customer.

• Increased investment in marketing and product innovation to drive sustainable, profitable growth.

• Maintained strong business momentum post-migration, with continued organic turnover growth.

Financial highlights

• Q1 FY26 turnover reached $363 million, up 27% year-on-year from $286.6 million; gross win was $51.8 million, up 34% year-on-year.

• Net win for the quarter was $38.0 million, a 36% increase from $27.9 million in Q1 FY25.

• Net win margin for the quarter was 10.5%, within the target range above 10%.

• Cash balance at September 30, 2025, was $95.2 million, including $13.7 million in client balances.

• Net cash used from operating activities was $5.7 million, mainly due to increased marketing spend and $3 million in brand launch production costs.

Outlook and guidance

• Confident in maintaining strong turnover and activity metrics into Q2, particularly ahead of the Melbourne Cup Carnival, despite challenging racing results early in the quarter.

• Expect net win margins to revert to historical averages over the balance of the quarter.

• Well-capitalized balance sheet and strong shareholder support position the business for further inorganic growth.

• Continued investment in marketing and product innovation to drive sustainable and profitable growth.