RAS Technology (RTH) H1 2026 earnings summary

Executive summary

• Achieved strong revenue growth of 38–38.3% year-over-year in H1 FY2026, reaching $13.9–$13.93 million, driven by expansion across all business segments, strategic investments in technology, trading, and Asia, and the first full period of the Hong Kong acquisition.

• Expanded global footprint with major contract wins, including LeoVegas, Fairplay, and Stakemate, and continued strong performance in Asia.

• Launched new products such as BetBridge and advanced trading platforms, enhancing market position as a tier one global provider.

• Positioned for sustained growth with a robust customer base, market-leading assets, and global networks.

• Invested in leadership and digital assets in Asia, strengthening relationships and regional growth.

Financial highlights

• Revenue reached $13.9–$13.93 million, up 38–38.3% year-over-year, marking the fifth consecutive year of 30%+ revenue growth.

• Normalized/adjusted EBITDA was $1.37–$1.4 million, stable year-over-year after adjusting for non-recurring items and seasonality.

• Annualized Recurring Revenue (ARR) at period end was $24.6 million, up 34–34.4% year-over-year, with an exit rate of $27.6 million including repeatable B2C revenue.

• Cash at period end was $4.39–$4.4 million, slightly down due to growth investments and acquisitions; normalized operating cash inflow was $0.80–$0.801 million.

• Adjusted net profit after tax was $0.13 million, but reported net loss after tax was $0.39 million due to continued investment.

Outlook and guidance

• Expect stronger H2 performance, especially in Asia, due to seasonality and new product launches.

• Cost growth to moderate in H2 as major investment phase concludes; focus shifts to efficiency, automation, and operating leverage.

• Continued global expansion with strong commercial momentum, especially in U.K. and Asia, leveraging core data and technology assets.

• Anticipate further growth from new contracts (e.g., LeoVegas) and full-year impact of new products.

• Plans to pursue further strategic partnerships and acquisitions to support growth.