PointsBet (PBH) Q1 2025 TU earnings summary

Executive summary

• Group net win rose 12% year-over-year to AUD 65.3 million, with gross profit up 15%, driven by improved sports betting margins and iGaming growth.

• Cash active clients increased 5% sequentially to 287,400, reflecting strong customer engagement.

• Responsible gambling and compliance remain central, with significant investment in consumer protection initiatives.

• Continued innovation with three new first-to-market products launched, supporting brand differentiation and customer engagement.

• Net cash outflow from operating activities was $2.66M for the quarter ended 30 September 2024.

Financial highlights

• Group net win increased by AUD 7.1 million (12%) to AUD 65.3 million compared to the prior corresponding period.

• iGaming net win rose 50% to AUD 4.6 million year-over-year.

• Group gross profit for the quarter increased 15% versus PCP, outpacing net win growth.

• Australia net win improved 7% year-over-year; cash-active clients grew 5% sequentially to 238,400.

• Canadian net win reached AUD 8.7 million, up 62% year-over-year, with Ontario outpacing the market.

Outlook and guidance

• FY 2025 revenue guidance reaffirmed at AUD 280–290 million; EBITDA expected between AUD 11–16 million.

• Company expects to be cash flow break-even for FY 2025, finishing the year with circa AUD 28 million in corporate cash.

• Canada expected to reach run-rate profitability by end of FY 2025, with full-year break-even targeted for FY 2026.

• With 12.62 quarters of funding available, the entity is well-positioned to meet its business objectives and continue operations.