Betmakers Technology Group (BET) Q3 2026 TU earnings summary

Executive summary

• Achieved 12.6% year-over-year revenue growth in Q3 FY26, reaching $23.4M, with contributions from new acquisitions and customer launches.

• Adjusted EBITDA rose 186% to $3.4M, with margin expanding to 14.7% from 5.8% in Q3 FY25, reflecting strong operational leverage and cost discipline.

• Gross margin expanded to 67.0%, up from 63.9% in Q3 FY25, driven by high-margin digital revenues and technology-led efficiencies.

• Strong operating cash flow and $14.8M in unrestricted cash at quarter-end.

• LVDC acquisition completed, providing a regulatory foothold in Nevada and supporting US digital strategy.

Financial highlights

• Revenue increased 12.6% year-over-year to $23.4M, with initial contributions from LVDC and CrownBet.

• Adjusted EBITDA rose to $3.4M, a $2.2M improvement over the prior year period.

• Adjusted EBITDA margin expanded to 14.7% from 5.8% in Q3 FY25.

• Gross margin improved by 3.1 percentage points to 67.0% compared to Q3 FY25.

• Net cash from operating activities was $2.8M for the quarter, with unrestricted cash balance at $14.8M at quarter-end.

Outlook and guidance

• Entering Q4 FY26 with multiple near-term catalysts, including full Crown partnership contribution and additional new customer launches.

• Focus on executing technology roadmap, new client deployments, and LVDC asset optimisation.

• Operating leverage and technology-led model expected to drive further margin expansion as growth strategy is implemented.

• Strong financial base and defined growth opportunities for FY27.

• Focus remains on consistent free cash flow generation as the business scales.