BetMakers showcased impressive financial performance in the first quarter of fiscal year 2027, reporting a 16.3% increase in revenue, reaching approximately AU$24.7 million (£13 million). The company's adjusted EBITDA surged to AU$5.9 million (£3.1 million), marking a significant year-on-year rise of 176.1%. This growth is attributed to advancements in its digital offerings and enhanced gross margins.
As BetMakers prepares for a proposed acquisition by Tabcorp, an Australian gambling operator, its results reflect robust activity on the Apollo and Global Tote platforms. Notably, Apollo recorded record activity levels, which continued into the post-quarter period during major horse racing events such as the Caulfield Cup and The Everest.
The company's gross margin improved to 69.1%, a rise from 63.9% in the same quarter last year, nearing its long-term target of at least 70%. Additionally, net cash strengthened to AU$2.8 million, a significant increase from AU$1.2 million in the first quarter of FY2026.
Jake Henson, CEO of BetMakers, highlighted that the achievement of AU$24.7 million in quarterly revenue, alongside operating cash flow of AU$2.8 million and AU$5.9 million in adjusted EBITDA, reflects strong commercial adoption of their products and operational discipline from the global team. He emphasized the agile, technology-driven business model that provides operating leverage as the company scales, noting a healthy pipeline of new opportunities to support this growth.
Regarding the acquisition by Tabcorp, which was announced in August, the deal values BetMakers at AU$283 million (£148 million), with an enterprise value of AU$267 million (£140 million) at that time. BetMakers' share price has seen a steady rise over the past six months, stabilizing around AU$0.24 per share. The acquisition is set to be executed in the third quarter of FY2027, subject to necessary approvals and completion measures. In September, BetMakers also recorded a remarkable 205% year-on-year increase in EBITDA for FY2026, further showcasing its strong financial trajectory.
