PointsBet has released its Q2 FY25 results, highlighting improvements in profitability and cash flow. The company reports growth in gross profit efficiency and an all-time high in active clients.
- EBITDA for CY24 reached AUD $8.2 million (EUR €4.9 million), a major improvement from a (AUD $16.4 million) loss in the previous year. The company attributes this to cost control and higher gross profit margins.
- Net win in Q2 FY25 was impacted by a AUD $3.9 million negative variance due to NFL and slots performance in Canada. Despite this, overall CY24 revenue rose 12% to AUD $252.3 million (EUR €151.8 million).
- Gross profit efficiency remained a focus, contributing to profitability gains. The company continues to adjust its operating expenses for better financial performance.
- The number of cash active clients hit 292.6k, marking an all-time high. Growth was driven by peak acquisition periods in Australia and Canada.
- Cash receipts from customers totaled AUD $69.9 million (EUR €42 million), with AUD $63.6 million from Sportsbook and AUD $6.3 million from iGaming. This reflects sustained customer engagement.
- Operating cash outflows included AUD $21.3 million for sales and marketing, AUD $9.7 million for staff costs, and AUD $9.2 million for corporate expenses and GST on net win.
- Net cash inflows from operations, excluding player funds, stood at AUD $2.7 million (EUR €1.6 million). The company expects positive cash flows in H2, benefiting from a seasonally stronger EBITDA performance.
- Investments in product and technology totaled AUD $4.1 million, supporting product development in Australia and Canada. The company aims to maintain a top-tier betting experience.
- Statutory corporate cash at December 31, 2024, was AUD $15.3 million (EUR €9.2 million). Management states, “We remain well-capitalized as we enter this phase of positive cash flow.”
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