RAS Technology (RTH) H1 2026 earnings summary

Executive summary

• Achieved revenue of $13.93 million for H1 FY26, up 38% year-over-year, driven by growth across all business segments, successful integration of the Hong Kong acquisition, and strategic investments in technology, trading, and Asian leadership.

• Secured major new contracts, including a milestone agreement with LeoVegas Group, and expanded global footprint with new clients such as Fairplay, Stakemate, and Bestodds.

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

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

• Strategic investments expanded addressable market and long-term growth pathways, especially in Asia.

Financial highlights

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

• Annualised Recurring Revenue (ARR) increased 34% year-over-year to $24.6 million, with an exit rate of $27.6 million including repeatable B2C revenue.

• Normalised EBITDA was $1.4 million, stable year-over-year despite increased investment and seasonality.

• Cash at period end was $4.4 million, slightly down due to growth investments and acquisitions; positive operating cash flow of $0.5 million ($0.8 million adjusted).

• Maintained positive net asset position of $14.3 million and net current assets of $3.2 million.

Outlook and guidance

• Expect stronger H2 performance, especially in Asia and the UK, due to seasonality, new product launches, and full-year impact of new contracts.

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

• Continued global expansion with strong commercial momentum and further strategic partnerships and acquisitions planned.

• Ongoing investment in technology and partnerships to drive additional growth opportunities.