• Executed agreement with Sportradar to expand international partnership channel
• Adjusted EBITDA loss reduced to $1.3 million, EBITDA and operating cash-flow trajectory expected to improve in 2H FY25
• Revenue growth expected in FY26 with early financial impact in 4Q FY25

BetMakers Technology Group Ltd (ASX:BET) announced its financial results for the six months ended 31 December 2024 (1H FY25). Key highlights include delivering operational goals such as technology upgrades, new platform launches, and reduced operating costs. The company's growth opportunities are accelerating, with a continued focus on international markets and high-margin scalable products. BetMakers executed an agreement with leading global player Sportradar to form a strategic partnership, expanding its international partnership channel. The adjusted EBITDA loss was reduced to $1.3 million for 1H FY25, and the company expects EBITDA and operating cash-flow trajectory to continue improving in 2H FY25. The company's revenue was softer in 1H FY25 ($41.4 million) compared to 2H FY24 ($43.8 million), but after excluding the revenue impact from a legacy customer, the business grew revenue modestly half-on-half (up by 2.0% from $39.7 million to $40.5 million). Based on current market trends and internal projections, BetMakers expects to see the impact of its improved growth outlook in late H2 FY25, with further improvements in revenue growth anticipated into FY26. The company's key growth initiatives are designed to expand the reach of its network, increase the turnover generated by its products, and improve BetMakers' margin.

BetMakers expects revenue growth in FY26, with early financial impact of the growth initiatives expected in 4Q FY25. The company is targeting a run-rate of cash operating expenses of $55 million before the end of this financial year.

BetMakers remains focused on delivering its long-term goal of being a Rule of 40 company. The company expects its EBITDA and operating cash-flow trajectory to improve throughout 2H FY25 as the impacts of the restructuring and the Apollo migration take full effect. The company's pipeline is continuing to expand, with an increase in potential growth opportunities.