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PointsBet (PBH) investor relations material
PointsBet H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record group net revenue of $261.4 million, up 6% year-over-year, and first-ever normalized EBITDA profitability of $11.2 million, within guidance range.
Board unanimously recommends Mixi Australia's unconditional all-cash takeover offer of $1.25 per share, representing a 50.6% premium to pre-announcement price, with payments to accepting shareholders commencing immediately.
Betar's hostile, all-scrip offer is not recommended due to lack of control, questionable synergies, inferior business fundamentals, and low liquidity of Betar shares.
Mixi Australia holds a 47.34% interest, making Betar's bid unlikely to succeed.
Financial highlights
Group revenue reached $261.4 million, up 6% year-over-year; gross profit was $137 million at a 52.4% margin.
Normalized EBITDA for FY25 was $11.2 million, a $13 million improvement year-over-year, marking the first full-year gross profitability.
Group net win rose 6% to $283.6 million; sports betting net win up 4%, iGaming net win up 39% year-over-year.
Net operating cash flows (excluding player cash) were $13.6 million, up from $6.6 million in the prior year.
Statutory loss for the year narrowed to $18.2 million from $39.6 million; basic loss per share improved to (5.5)c from (12.5)c.
Outlook and guidance
Alberta is expected to go live in Q4 FY26, providing further growth opportunities in Canada.
The regulated Canadian market is anticipated to continue delivering market growth tailwinds.
Board expects Mixi Australia to gain effective control post-offer, with share price likely to fall if no superior proposal emerges.
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