BetMakers Technology Group has demonstrated remarkable resilience and growth in the second quarter of FY26. Despite operating during the industry’s traditionally slowest period, the company managed to deliver impressive results, including double-digit revenue growth and a positive Adjusted EBITDA. This performance underscores the effectiveness of its strategic shift toward a high-margin, technology-driven business model, positioning it well for future expansion and stability. BetMakers Positive EBITDA
During the quarter ending December 31, 2025, BetMakers reported a 23.1% increase in gross profit, reaching $15.2 million. The gross margin also expanded significantly to 66.4%, up from 61.6% in the same period last year. These improvements reflect the company’s focus on high-margin, technology-led revenue streams, which have helped to enhance overall profitability and operational efficiency.
Revenue for the quarter stood at $22.9 million, representing a 14.1% increase compared to the same quarter in the previous year. Meanwhile, Adjusted EBITDA improved by $3.0 million to $2.7 million, marking the company’s fourth consecutive quarter of positive earnings before interest, taxes, depreciation, and amortization. These figures highlight the company’s successful execution of its strategic reset and its ability to leverage proprietary technology on a global scale.
Despite some working capital movements and investments in infrastructure, BetMakers maintained positive operating cash flow of $0.2 million for the quarter. This indicates a healthy financial position and supports the company’s ongoing operational initiatives. Executive Chair Matt Davey emphasized that these results validate the company’s strategic direction, stating, “The Q2 FY26 results underscore the consistent performance of the business in the last 12 months, delivering a $3.0 million increase in Adjusted EBITDA compared to the prior corresponding period.”
A key driver behind BetMakers’ recent success has been its ability to secure strategic partnerships that expand its global reach. During the quarter, the company signed three major agreements that strengthen its position as a leading racing technology supplier. Notably, in December, BetMakers entered into a multi-year global racing partnership with Stake, which will see its technology powering Stake’s horse racing offerings across multiple international markets.
In addition, BetMakers secured an exclusive five-year technology and services deal with CrownBet, supporting the relaunch of CrownBet.com.au with its Apollo wagering platform and related services. The company also renewed and expanded its long-term content partnership with PENN Entertainment, extending its role as the exclusive international distributor of PENN’s racing content for another three years. This extension is expected to generate approximately A$1.2 million annually in EBITDA savings through reduced costs.
Looking ahead, BetMakers approaches the second half of FY26 with increased confidence. The company expects that the recent contract wins and strategic initiatives will begin to translate into tangible financial gains. Its priorities include scaling revenue from core technology platforms, expanding further into North America following the planned LVDC acquisition, and turning its growing global sales pipeline into sustainable long-term growth.
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CEO Jake Henson expressed optimism about the company’s trajectory, highlighting the disciplined execution during the quarter. “This quarter was defined by strong commercial execution and continued operational discipline. We successfully secured three landmark agreements with Stake.com, PENN Entertainment, and the CrownBet platform agreement, all of which validate BetMakers as the preferred racing-led technology partner for wagering operators globally.”
He concluded by reaffirming the company’s commitment to growth and efficiency, stating, “We remain committed to driving scalable growth from our proprietary technology, including our Apollo platform and market-leading tote technology, while maintaining the cost efficiencies that have led to four consecutive quarters of positive Adjusted EBITDA.” The company anticipates maintaining positive operating cash flows through H2 FY26, supported by ongoing margin expansion and strict cost management. BetMakers Positive EBITDA
