BET.ASX: 1H FY26 Results

1H FY26 Results

Stock	Betmakers Technology Group Ltd (BET.ASX)
Release Time	27 Feb 2026, 8:15 a.m.
Price Sensitive	Yes

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Betmakers Technology Group Ltd Reports Positive 1H FY26 Results

Key Points

Revenue up 13.8% to $46.1 million
Adjusted EBITDA positive at $6.0 million, a $7.3 million turnaround
Gross margin expanded to 66.5%, up from 59.7% in the prior period

Full Summary

Betmakers Technology Group Ltd (ASX:BET), a global leader in racing and wagering technology solutions, has announced its results for the six months ended 31 December 2025 (1H FY26). The company reported revenue of $46.1 million, up 13.8% compared to the prior corresponding period, excluding revenue from a legacy customer. Adjusted EBITDA was positive $6.0 million, a $7.3 million improvement from the $1.3 million loss in 1H FY25. Gross margin expanded to 66.5%, up from 59.7% in the prior period. The company has also made significant strategic progress, including a 5-year exclusive agreement to provide the full wagering stack for the launch of the CrownBet brand, a multi-year partnership with Stake.com to power their global horse racing expansion, and the acquisition of Las Vegas Dissemination Company (LVDC), which is expected to contribute $4.5 million in annualized revenue. Additionally, the company has renewed its deal with Penn Entertainment on improved terms, expected to increase EBITDA by $1.2 million per annum. The company has also seen momentum in its Apollo platform, with eight new customers going live in Q2 FY26 and a further eight contracted for deployment in 2H FY26.

Guidance

The company expects to continue driving growth and margin expansion, with a focus on monetizing new contracts, improving product mix, and further optimizing the cost base. The revised Penn deal, new contract contributions, and the integration of LVDC are each expected to drive gross margin toward the company's long-term target of 70%+ and improve EBITDA margins.

Outlook

BetMakers enters the second half of FY26 from a position of strength, with major new agreements set to go live, including the launch of CrownBet and the implementation of Stake.com's global racing solution. The company is also focused on fully integrating LVDC and advancing the roll-out of digital tote products into Nevada.