Wagering technology group BetMakers has reported strong growth across its 2024/25 financial year, delivering improvements in revenue, margins and profitability as it transitions into what management described as “a pivotal year of transformation.”
The ASX-listed company, which supplies technology solutions to the global wagering industry, announced revenue of $85.1 million, up from last year, while gross margin rose to 64.0 per cent from 60.3 per cent. Adjusted EBITDA came in at $4.6 million, compared with a $7.2 million loss in the previous financial year. Operating cash flow also swung into positive territory at $2.7 million, reversing last year’s $9.7 million deficit.
Much of the turnaround was underpinned by BetMakers’ ongoing technology roadmap, including the rollout of its Apollo platform and advancements with GTX, its next-generation digital tote system.
“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,” CEO Jake Henson 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.”
Shares in BetMakers closed at 15 cents on Thursday, equalling their highest level this year, giving the company a market capitalisation of $176 million.
