Technology-led repositioning helps company deliver another quarter of revenue growth, while improving profitability
BetMakers Technology Group has reported a 12.6 per cent increase in revenue to A$23.4 million for its fiscal third quarter ended March 31, including the first results from newly acquired Las Vegas Dissemination Company (LVDC).
The company said that its Q3 results were achieved during a period of further commercial momentum, as the Crown partnership commenced operations in February.
Additionally, the third quarter included the first partial contribution from the LVDC business following the completion of the acquisition on February 1.
Adjusted EBITDA for the period rose to $3.4 million, compared to a negative adjusted EBITDA of $1.2 million in Q3 FY25, with a significantly improved adjusted EBITDA margin of 14.7 per cent.
“This quarter reflects a clear inflection point for the business,” said BetMakers executive chair Matt Davey. “With the cost base reset, we are now seeing operating leverage translate directly into EBITDA growth, even before the full contribution from recent contract wins.
“The company’s results this quarter are a direct outcome of our focus on technology-led growth and ongoing rigorous cost management. We believe the increase in EBITDA demonstrates the scalability of our model and we remain committed to the disciplined execution of our pipeline and the strategic development of our North American footprint through the LVDC acquisition generating positive adjusted EBITDA of A$3.4 million.”
During the quarter, cost of goods sold increased by 3.1 per cent to A$7.7 million, while total expenses climbed 1.2 per cent to A$12.2 million, including staff costs of A$9.1 million (+2 per cent) and overheads of A$3.1 million (-1 per cent).
BetMakers CEO Jake Henson commented: “We are pleased to announce this result as it reinforces that the business has moved beyond stabilisation and into a phase of scalable growth. Delivering $3.4 million in adjusted EBITDA – ahead of full contributions from recent contract wins – provides a strong foundation as we enter a catalyst-rich Q4.
“Our immediate focus is execution: launching contracted customers, expanding our digital product suite and footprint, and unlocking the commercial value of LVDC as a gateway into the US market.”
Shares in Betmakers Technology Group Ltd (ASX:BET) closed unchanged at A$0.18 per share in Sydney Thursday.