• Revenue increased by 33.1% to $10.07m
• Profit after tax up 204.3% to $0.40m
• Net assets increased by $1.81m to $14.41m

During the half-year period from July to December 2024, RAS Technology Holdings Limited (RTH) reported revenue of $10.07 million, up 33.1% compared to the previous corresponding period. The company recorded a before tax profit of $0.47 million, compared to a loss of $0.18 million for the previous corresponding period. The increase in revenue and profitability was driven by continued growth in the company's data and enhanced content services, as well as its wagering technology products. Net assets of the company increased by $1.81 million to $14.41 million, which resulted from the profit and a strategic capital raising with Waterhouse VC during the half-year period. The company's cash balance increased by $0.44 million to $8.79 million. Looking ahead, RTH will continue to execute on its key growth initiatives, including UK expansion, launching its proprietary full racing solution, international expansion, increasing penetration of its racing data and content, and expanding its wagering technology and services. The company has also announced the acquisition of a Hong Kong-based business that owns six racing publications and a racing data service, subject to regulatory approval.

In FY25, the company expects to continue its robust growth momentum, with revenue and Annualised Recurring Revenue (ARR) expected to increase. ARR as at 31 December 2024 was $18.3 million, up 22% from the prior corresponding period.

The company will continue to execute on its key growth initiatives, including UK expansion, launching its proprietary full racing solution, international expansion, increasing penetration of its racing data and content, and expanding its wagering technology and services. The company has also announced the acquisition of a Hong Kong-based business, which is expected to provide a significant presence in the important Hong Kong wagering market.