Wagering technology company BetMakers jumped into growth mode in the 2024/25 financial year with lifts in revenue, gross margin and an adjusted EBITDA of $4.6 million.
The publicly listed company, a key technology solutions provider for the global wagering industry, released its annual results on Thursday, delivering a strengthened balance sheet and executing what it called 'a pivotal year of transformation'.
Revenue grew to $85.1 million, gross margin was 64.0 per cent (FY24 60.3 per cent) and the adjusted EBITDA figure of $4.6 million compared to a $7.2 million loss last year. The operating cash flow of the technology business was $2.7 million, while it was minus $9.7 million this time last year.
“With a more efficient, technology-led cost base and growing scale across international markets, BetMakers is now positioned not just to sustain its financial performance, but to deliver substantial growth in the years ahead. We are committed to delivering long-term value for our shareholders,” BetMakers Executive chairman Matt Davey said.
The positive returns are built around BetMakers’ technology roadmap, with the rollout of the Apollo platform and continued progress on GTX, the company’s next-generation digital tote.
“With the heavy lifting phase of transformation behind us, the business is now operating on a lean, scalable footing. Our focus is firmly on execution: expanding our partner network, accelerating adoption of Apollo and GTX globally, and capturing margin growth as transaction volumes scale,” Jake Henson, BetMakers CEO, said.
“With a strengthened balance sheet and no debt, we believe BetMakers is positioned to deliver sustainable growth and pursue strategic initiatives to drive positive financial performance for shareholders.”
BetMakers shares closed at 15 cents, the equal highest they have been this year. It has a market cap of $176 million.
