BetMakers Reports $85.1M Revenue with 31.7% Lower Loss and Positive Cash Flow

Revenue Decline Amid Strategic Reset

BetMakers Technology Group Ltd has reported a 10.6% decline in revenue for the fiscal year ended 30 June 2025, with total revenues falling to $85.1 million from $95.2 million the previous year. This decrease was primarily driven by the loss of a key customer contributing $7.1 million in FY24, alongside lower variable revenue and subdued turnover in its wagering platforms.

Despite the revenue contraction, the company has made significant strides in reducing its losses, with a net loss after tax of $26.4 million, down 31.7% from $38.7 million in FY24. This improvement reflects a disciplined cost reduction program and operational efficiencies.

Positive EBITDA and Cash Flow Milestones

For the first time, BetMakers delivered positive adjusted EBITDA of $4.6 million and positive operating cash flow, marking a pivotal financial inflection point. The turnaround was underpinned by a leaner cost base and expanding margins, signaling the company’s transition towards sustainable profitability.

The company ended FY25 debt-free with $18.8 million in unrestricted cash, bolstered by a successful $11.5 million capital raise in June 2025. This strengthened balance sheet provides financial flexibility to support growth initiatives and working capital needs.

Technology Platforms Driving Growth

Central to BetMakers’ transformation has been the rollout of its proprietary wagering platforms, Apollo and GTX. Apollo, the next-generation wagering platform, has delivered operational efficiencies and enhanced customer experiences across multiple jurisdictions. Meanwhile, GTX, the new cloud-native tote and digital wagering platform, promises superior scalability and flexibility for partners, positioning BetMakers at the forefront of wagering technology innovation.

These platforms have facilitated deeper international expansion, including renewed and extended partnerships with major operators such as the UK Tote Group and Sportsbet in Australia, as well as new agreements in South Africa, Malaysia, Cyprus, and Chile. The company is also advancing its U.S. presence through the pending acquisition of the Las Vegas Dissemination Company, expected to close post-year-end.

Strategic Outlook and Risks

Entering FY26, BetMakers aims to leverage its lean operating model and technology leadership to accelerate revenue growth and margin expansion. Key priorities include broadening adoption of Apollo and GTX platforms, completing the LVDC acquisition, and expanding B2B distribution into new markets.

However, the company acknowledges ongoing risks such as potential operating losses, customer credit risk, regulatory compliance challenges, and reliance on technology infrastructure and data feeds. These factors will require vigilant management as BetMakers pursues its growth ambitions.

Governance and Remuneration

BetMakers maintains a strong governance framework with a board comprising experienced directors in gaming technology and wagering sectors. Executive remuneration is closely linked to performance, with share-based incentives aligned to long-term shareholder value creation.

The company’s financial statements received an unqualified audit opinion, underscoring the robustness of its reporting and controls.