Betmakers Technology Group (BET) H2 2026 earnings summary

Executive summary

• Adjusted EBITDA increased over 205% to $14.1 million, reflecting strong operational leverage and cost discipline.

• Revenue grew 8.8% year-over-year to $92.6 million, driven by digital product expansion and new customer launches.

• Gross margin improved to 66.9%, up from 64.1% in the prior year, aided by digital revenue mix and contract restructuring.

• Operating expenses decreased by $3.1 million to $49.4 million, demonstrating cost optimization and operating leverage.

• The company entered a binding agreement to be acquired by Tabcorp, offering shareholders cash or scrip consideration.

Financial highlights

• Adjusted EBITDA improved by $9.5 million to $14.1 million, up from $4.6 million in FY25 (205% increase).

• Revenue reached $92.6 million, up 8.8% year-over-year or 11.2% on a constant currency basis.

• Adjusted EBITDA margin rose to 15.2% from 5.5% in the prior year.

• Net loss after tax improved to $(5.2) million from $(25.3) million year-over-year.

• Operating cash flow turned positive at $5.0 million, a $14.7 million improvement over FY24.

Outlook and guidance

• FY27 priorities include technology-led digital revenue growth, further cost base optimization, and EBITDA margin expansion.

• Management expects continued Adjusted EBITDA growth, gross profit margin expansion, and increasing free cash flow.

• Strong start to FY27 expected, with upgraded technology and expanded product suite supporting growth.