betr Entertainmen (BBT) Q4 2026 earnings summary

Executive summary

• Achieved positive operating cash flow of $2.6m in Q4 FY26, the first positive quarter since 2021 and a $3.6m improvement versus the prior corresponding period.

• Brand relaunch and differentiated product strategy led to improved customer engagement and economics.

• Transitioned to a Tasmanian Gaming Licence from July 2026, supporting long-term strategic and governance priorities.

• Strategic investments and industry consolidation provide multiple avenues for shareholder value creation.

• Entering FY 2027 with record momentum and the strongest position to date.

Financial highlights

• Q4 FY26 turnover was $404.3m, up 1.2% year-over-year; YTD turnover reached $1,594.7m, up 12.3%.

• Q4 net win was $43.9m, up 9.3% year-over-year; net win margin improved to 10.9%, up 0.8pp year-over-year.

• Q4 gross win was $57.1m (+7.5% vs PCP), with a gross win margin of 14.1% (+0.8pp).

• Operating cash flow was positive at $2.6m, the first positive quarter since 2021.

• Closing cash balance at 30 June 2026 was $27.8m, including $11.0m in client balances.

Outlook and guidance

• FY27 EBITDA target set between $13m and $19m, following H2 FY26 delivery of $5m–$8m.

• Priorities include launching first-to-market SGM and Racing products, leveraging data/AI for customer monetisation, and selective capital deployment for growth.

• July 2026 turnover up over 15% (excluding World Cup), indicating strong momentum into FY27.

• Continued emphasis on data-led decision-making and personalized customer experiences to drive engagement and monetization.

• Ongoing assessment of organic and inorganic growth opportunities to strengthen competitive position.