Betmakers Technology Group (BET) Q4 2026 earnings summary

Executive summary

• Achieved Q4 FY26 revenue of $24.2 million, up 9.4% year-over-year, with Adjusted EBITDA rising to $4.5 million, an 89% increase, and margin expanding to 18.5%.

• Positive operating cash flow of $3.2 million and unrestricted cash increased to $15.6 million.

• Commercial momentum continued with new agreements and product launches, including Stake.com, Dafabet.com.au, and GT Vegas.

• Focused on technology-led growth, operational efficiency, and expanding global content footprint.

Financial highlights

• Gross margin reached 70% in Q4 FY26, up 1.5 percentage points quarter-on-quarter; adjusted for one-off items, gross margin would have been 69.8%.

• Operating expenses decreased despite revenue growth, with capitalised staff costs rising from $1.3M to $1.9M year-over-year.

• Operating cash flow was $3.2M, consistent with the prior period.

• Unrestricted cash balance rose by $0.8M quarter-on-quarter to $15.6M; total cash and cash equivalents were $37.9M.

• Net cash from financing activities was $2.2M, primarily from equity issuance.

Outlook and guidance

• Management targets 10% annual revenue growth, 70%+ gross margin, and 25%+ Adjusted EBITDA margin over 3–5 years.

• Positioned for continued growth in FY27, leveraging a technology-led strategy and scalable platform, with anticipated revenue contributions from recent contract wins.

• Q1 FY27 will include the annual minimum guarantee payment for New Jersey Fixed Odds.

• Board expects to provide further commentary on FY27 expectations with full year results.