FY26 Results Investor Presentation
Released
Released
Announcement PDF
© 2026 BetMakers Technology Group Limited. FY26 | 1
BetMakers Technology Group Ltd
ABN 21 164 521 395
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FY26 RESULTS
A Global Market Leader for Racing Technology Solutions
AUGUST 2026
www.betmakers.com
© 2026 BetMakers Technology Group Limited. FY26 | 2
DISCLAIMER
______
The material contained in this document is a presentation of general information about the activities of BetMakers Technology Group Limited (the Company
or BET) as at the date the document is released on ASX. All monetary figures quoted within this document are in Australian dollars ($AUD) unless otherwise
specified. All quarterly figures are unaudited unless otherwise specified.
The document is not a prospectus, product disclosure statement or other offer document under Australian law or any other law. The information is provided
in summary and does not purport to be complete. You should not rely upon it as advice for investment purposes, as it does not take into account your
investment objectives, financial position or needs and does not include all information which an investor may require to assess the performance, risks,
prospects or financial position of the Company. These factors should be considered, with or without professional advice, when deciding if an investment is
appropriate. To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or
refraining from acting as a result of this material is accepted by the Company, including any of its related bodies corporate.
This update contains “forward-looking statements”. These can often be identified by the use of certain words such as “may”, “should”, ”anticipate”, “believe”,
“intend”, “estimate” and “expect”. However, any statements which are not based on historic or current facts may be forward-looking statements. Forward-
looking statements are based on assumptions regarding the Company’s financial position, business strategies, plans and objectives of management for
future operations and development and the environment in which the Company will operate; and current views, expectations and beliefs as at the date they
are expressed, and which are subject to various risks and uncertainties. The forward-looking statements contained within the update are not guarantees or
assurances of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the
Company, which may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by the
forward-looking statements. For example, the factors that are likely to affect the results of the Company include: general economic conditions in Australia
and globally; exchange rates; competition in the markets in which the Company does, and will, operate; conduct of contracted counter parties; weather and
climate conditions; and the inherent regulatory risks in the businesses of the Company. The forward-looking statements contained in this announcement
should not be taken as implying that the assumptions on which the projections have been prepared are correct or exhaustive.
The Company disclaims any responsibility for the accuracy or completeness of the information contained in this update, including any forward-looking
statement. The Company disclaims any responsibility to update or revise any information in this update, including forward-looking statements to reflect any
change in the Company’s financial condition, status or affairs or any change in the events, conditions or circumstances on which a statement is based,
except as required by law. The data projections or forecasts included in this presentation have not been audited, examined or otherwise reviewed by the
independent auditors of the Company. You must not place undue reliance on these forward-looking statements.
© 2026 BetMakers Technology Group Limited. FY26 | 3
HIGHLIGHTS
FY26 RESULTS
Positive Adjusted EBITDA of $14.1M, up 205% ($4.6M PCP)1
1
Revenue of $92.6M, 8.8% growth vs PCP (11.2% CC2).
2
Adjusted Gross Margin improved to 66.9% (64.1% PCP) and Adjusted
EBITDA Margin improved to 15.2% (5.5% PCP).
3
Commercial momentum continues - new deployments expected in 1H
FY27 and opportunities to continue to expand content network.
4
1. Adjusted EBITDA is a non-IFRS/non-GAAP financial measure calculated as earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted by adding back, to the extent included in EBITDA various items including, share-
based payment expenses, restructuring and integration costs (including employee severance costs), transaction costs, inventory write-offs, asset impairments, and bad and doubtful-debt expenses. The non-IFRS financial information in
this announcement has not been audited or reviewed in accordance with Australian Auditing Standards.
2. CC is a reference to comparison on a constant currency basis. Refer to the FY26 results ASX release for further information in relation to the FX rates used.
Established a solid foundation heading into FY27, focused on again
delivering technology-led revenue growth and operating leverage.
5
DRIVING GROWTH AND EFFICIENCY
THROUGH TECHNOLOGY
© 2026 BetMakers Technology Group Limited. FY26 | 4
MARKET-LEADING COST PER BET
EFFICIENT MARGIN REALISATION
BetMakers aims to achieve superior cost efficiency by streamlining operations and
eliminating intermediaries, creating a more profitable, scalable and sustainable model
for our wagering operator partners.
Our platform seeks to deliver seamless global trading, risk management and pool
connectivity. Driving growth, great customer experience via market leading integrated
content and necessary efficiency on promotion and generosity strategies.
COMPLETE. CONNECTED.
THE WORLD’S RACING ECOSYSTEM
BetMakers operates a fully integrated racing ecosystem across Fixed Odds, Tote,
and Data. This complete model delivers the full wagering value chain and positions
BetMakers to operate in key global markets.
MISSION
OUR GOAL IS TO BECOME THE CENTRAL,
INTERCONNECTED PLATFORM FOR HORSE RACING BETTING
© 2026 BetMakers Technology Group Limited. FY26 | 5
OUR TECHNOLOGY STACK DRIVES OUR COMPETITIVE ADVANTAGE
HYBRID / VARIABLE
REVENUE MODEL
Success based revenue model not reliant on
“per-seat” SaaS revenue.
A CORE SYSTEM OF RECORD
WITH VERTICAL FOCUS
A resilient tech stack that handles the end
to end life cycle of wagering on racing.
REGULATED & LICENSED
Licensed in key regulated markets
globally. Directly integrated with racing
governing bodies and rights holders.
ORCHESTRATION PLATFORM
A deep network of established relationships,
integrations, and bespoke data and content
specifically tailored for racing.
TECHNOLOGY DRIVEN
EFFICIENCY
Track-record of improving operator
margins through technology.
AI-POWERED INNOVATION
Years of innovation & racing specific know-how
now being accelerated by AI tools and models with
access to bespoke data and connections.
THE PLATFORM IS SCALABLE AND DESIGNED TO SUPPORT FUTURE GROWTH ACROSS THE INDUSTRY
© 2026 BetMakers Technology Group Limited. FY26 | 6
FY26
FINANCIAL
RESULTS
______
© 2026 BetMakers Technology Group Limited. FY26 | 7
FINANCIAL RESULTS
TECHNOLOGY-LED REVENUE GROWTH OF 8.8% VS PCP (11.2% CC)
➞ Revenue was up 8.8% vs pcp, 11.2% on a constant currency basis.
➞ Additional new customers launched in 2H FY26 provide a foundation
for growth in FY27.
➞ Tote Products continue to provide strong recurring base of
international revenues and exposure to major wagering markets.
➞ Digital contribution growing as products expand market share
domestically and are deployed more broadly internationally.
➞ Opportunity for network effects from digital customer base to
support growth in content revenues.
© 2026 BetMakers Technology Group Limited. FY26 | 8
➞ Key driver of growth - expanding digital customer base:
○ Domestic customers key contributors to FY26.
○ Expanding set of international opportunities emerging.
➞ Content distribution also contributing to growth:
○ Opportunities to expand international product suite.
FINANCIAL UPDATE
DIGITAL CUSTOMERS DRIVING GROWTH TRAJECTORY
➞ Steady performance across core tote hosting and managed
services supported by a near term pipeline. This was partially
offset by some customer churn experienced during FY26.
➞ Some impact from FX - on a constant currency basis1, Global
Tote FY26 Revenue was up 1.1% vs pcp.
20.3%
1. On a constant currency basis, Global Tote FY25 revenue was $48.8m.
© 2026 BetMakers Technology Group Limited. FY26 | 9
FINANCIAL RESULTS
GROSS MARGIN CONTINUES TO IMPROVE TOWARDS LONG TERM GOAL1
OF 70.0%
➞ Digital revenues continue to deliver strong incremental gross margin.
➞ Restructured Penn contract2 improved gross margin profile in 2H
FY26.
➞ FY26 includes an adjustment for a $1.3m inventory write off.
Unadjusted Gross Margin was 65.5%.
➞ Q4 FY26 Gross Margin was 68.5%, demonstrating trajectory towards
long term goal of 70%.
1. For further information regarding the Company’s long-term goals, refer to ASX Announcement dated 28 August 2025.
2. Refer to ASX Announcement dated 3 December 2025.
© 2026 BetMakers Technology Group Limited. FY26 | 10
FINANCIAL RESULTS
ADJUSTED EBITDA OF $14.1M, IMPROVED BY 205% vs PCP
➞ Adjusted EBITDA of $14.1m for FY26, improved by 205% vs pcp.
➞ Adjusted EBITDA margin up from 5.5% pcp to 15.2% in FY26,
driven by the combination of revenue growth (8.8% YoY), gross
margin improvement (2.8 pts YoY on an adjusted basis1), and a
material reduction ($3.1m) in operating expenses vs pcp.
➞ Operating expenses were down ($49.4m vs $52.5m) despite
8.8% growth in revenue vs pcp. Capitalised staff costs were
$6.7m in FY25 vs $7.3m in FY26.
➞ Operating expenses for FY26 include LVDC operating costs
since February 2026 (not in the prior period).
8.8% revenue growth
1. See slide 9
© 2026 BetMakers Technology Group Limited. FY26 | 11
➞ Strong operating cash-flow of $5.0m1, +$2.2m on the prior
period and +$14.7m vs FY24.
➞ The Company continues to work towards consistent free-cash
flow generation as the business scales.
FINANCIAL RESULTS
CONTINUED IMPROVEMENT IN OPERATING CASH-FLOW GENERATION
➞ Unrestricted cash balance decreased by $2.2m vs FY25, but this
included c$1.2m of costs associated with the acquisition of
LVDC.
1. Based on operating cash-flow as described in the Company’s four Appendix 4C Quarterly Reports released with respect to the 12 months to 30 June 2026. The 4C operating cash-flow includes lease payments but excludes
movements in customer funds held.
© 2026 BetMakers Technology Group Limited. FY26 | 12
FINANCIAL RESULTS
OUR FOCUSED GROWTH STRATEGY AND OPERATING DISCIPLINE CONTINUES TO DELIVER
● Adjusted EBITDA has improved by $46m since
FY231 and continues to have an upward
trajectory.
● FY26 delivered Adjusted EBITDA Margin of
15.2% (Q4 FY26 higher at 18.2%).
● Well positioned for FY27 as the Company
continues to execute on its technology-led
growth strategy.
1. Based on comparison of FY23 to annual run-rate at Q4 FY26. The annual run-rate is calculated as Q4 FY26 multiplied by four and does not take into account seasonality, changes in FX or other factors that could impact the
business on a yearly basis. The figures for FY23, FY24, FY25 and FY26 are based on the financial results disclosed in the Company’s financial statements for those periods. Accordingly, the FX rates used for FY23-FY25 are
different to the rates used for FY26 and the annualised Adjusted EBITDA figure for Q4 FY26.
© 2026 BetMakers Technology Group Limited. FY26 | 13
➞ FY26 Statutory revenue includes a $0.9m non-recurring catch
up relating to the finalisation of an FY25 performance obligation.
➞ FY26 revenue was up 11.2% vs PCP on a constant currency basis.
➞ FY26 COGS includes an inventory write off of $1.3m. After
adjusting for this, Gross Margin was 66.9%.
➞ FY26 Operating Expense is after $7.3m of capitalised staff costs
relating to the development of new products and features, (up
from $6.7m in FY25).
➞ FY26 Amortisation includes $3.2m related to the acquisition of
Sportech, which has now been fully amortised at 30 June 2026.
FY26 vs FY25 ($m) FY26 FY25 Var ($) Var (%)
Revenue 92.6 85.1 7.5 8.8%
Gross Profit 60.7 54.5 6.2 11.4%
Gross Margin % 65.5% 64.1% 1.4% —
Operating Expense (49.4) (52.5) 3.1 6.0%
Adjusted EBITDA 14.1 4.6 9.5 205.1%
Total Adjustments (5.0) (2.8) — —
EBITDA 9.1 1.8 7.3 405.6%
D&A (15.5) (15.4) (0.1) (0.6%)
Finance Costs/Interest (0.3) (0.5) 0.2 40.3%
Income Tax benefit/(expense) 1.5 (11.2) 12.7 113.4%
NLAT (5.2) (25.3) 20.3 79.9%
FINANCIAL UPDATE
PROFIT & LOSS
© 2026 BetMakers Technology Group Limited. FY26 | 14
FY26
GROWTH
STRATEGY
______
© 2026 BetMakers Technology Group Limited. FY26 | 15
GLOBAL FOOTPRINT
OUR NETWORK EXTENDS ALL OVER THE WORLD, POWERING
MARKET LEADERS IN BOTH TOTE AND FIXED ODDS.
RACETRACKS
TECHNOLOGY &
MEDIA PARTNERS
WAGERING
OPERATORS
RIGHTS HOLDERS
& REGULATORS
BetMakers continues to broaden its
customer reach and new market
penetration.
OUR CLIENTS ARE THE GLOBAL LEADERS IN
WAGERING AND OUR NETWORK IS EXPANDING.
© 2026 BetMakers Technology Group Limited. FY26 | 16
Betting Platforms
_________
Embedded Racebook
_________
Race Day Control
_________
Betting Terminal Software
__________________
Fixed Odds Pricing & Managed
Trading Services
_________
Data, Form & Content
_________
Racing Vision
_________
Reporting & Analysis
_________
Rights Partnerships
_________
Official Price & Integrity
________________________________________________________________
CUSTOMERS
FORM AND DATA FOR FIXED ODDS
WAGERING
PRODUCTS FOR
FIXED ODDS AND
TOTE __________________
Quantum Tote Engine
_________
Tote Hosting
_________
International Tote Pooling
_________
Interface Management
_________
Venue Services
_____________________________________________________________________
CUSTOMERS
TOTE ENGINE, HOSTING, POOLING AND
INTERFACING
A full suite of Tote and Fixed Odds products to enhance the
wagering experience on racing globally.
Emerging opportunities to leverage our international tote network across our expanding digital customer base
© 2026 BetMakers Technology Group Limited. FY26 | 17
BetMakers continues to embed AI-led ways of working into its core operations,
driving efficiencies and productivity
AI-Driven Workflows
Transforming the core
of the business by
embedding AI as a
foundational
capability.
01
Internal Tooling: AI-assisted development, automated testing, and
automated localisation & translation.
02
Wagering Intelligence: Predictive pricing models, real-time market
movement, and automated decisioning.
03
Content & Experiences: AI-enriched form and data, natural language
search across the content network, and automated vision production.
04
Autonomous Operations: Agentic AI for operational support, self-healing
incident triage, and AI-assisted trading and risk management.
05
Leveraging Partnerships - Driving AI adoption via partnerships with key
vendors and select use of tools to support operational workflows.
© 2026 BetMakers Technology Group Limited. FY26 | 18
Delivering Adjusted EBITDA growth and expansion of Adjusted
EBITDA margin.
Further growth in digital revenues both domestically and
internationally. Expansion of distribution capabilities and growth
in content revenues and partnerships.
FY26 RESULTS
OUTLOOK
During FY27 our strategic priorities are:
The business has established a solid foundation heading into FY27 and will again
focus on delivering operational discipline and technology innovation and execution
Ongoing cost base optimisation from technology efficiencies,
driving further operating leverage.
03
02
01
Note: The forward-looking statements on this slide and in this presentation are based on the Company’s internal projections, current business plan and the environment in which the Company operates as at the date of this presentation. They
include assumptions regarding the impact of the Company’s technology roadmap, recent restructuring measures as well as the impact of recent and future contract wins and customer launches. Further information regarding forward looking
statements is contained on Slide 2.
© 2026 BetMakers Technology Group Limited. FY26 | 19
Appendix
______
© 2026 BetMakers Technology Group Limited. FY26 | 20
Item Amount ($M) Description
Statutory EBITDA $9.1 Audited result including all recognised items.
Less: Revenue adjustment ($0.9) Non-recurring timing adjustment relating to FY25 performance obligations.
Add: Impairment of receivables $0.9 Non-cash charge recognising expected credit losses on trade or other receivables.
Add: Inventory Write off $1.3
Write-down of obsolete, damaged, or slow-moving inventory. Added back as a
non-recurring, non-cash adjustment not reflective of ongoing trading.
Add: Deal costs $0.8
FY26 costs related to the acquisition of LVDC and Scheme of arrangement with
Tabcorp.
Add: Restructuring Costs $0.9
One-off restructuring costs related to entity shut downs and employee related
restructuring.
Add: Share based payments expense $1.3
Accounting expense for equity-settled or cash-settled employee incentive plans.
Added back as a non-cash remuneration item.
Add: Other Adjustments $0.7 Prior period reclassification and rounding.
Adjusted EBITDA $14.1 Adjusted EBITDA
Note: Statutory EBITDA for FY26 is after capitalised staff costs of $7.3m.
FY26
STATUTORY TO ADJUSTED EBITDA RECONCILIATION
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