BetMakers Technology Group Ltd

Well, good morning everyone. It gives me great pleasure to bring you the first half FY26 update on BetMakers Technology Group. Presenting today is myself, Executive Chair and President of the company and accompanied by Jay Kenson, Chief Executive Officer. So, the real pleasure here is to be able to deliver results from a technology driven turnaround. that has allowed us really to start compounding on the great work that the team have done over the last two years. You can see this directly in the numbers today, but we'll also talk through the products and the customer impact and our competitive positioning in the marketplace. From the numbers, you can see we delivered the first six-handle and a half-year EBITDA result with $6 million. It's quite the turnaround from the $1.3 million loss in the first half of FY25. This is driven in part by a double-digit top-line revenue growth of $46.1 million and expanding gross margins by another 10% to 66.5%, again reflecting the great work that the team have done to make this business more efficient and deliver better return on our invested capital. A lot of this is driven by the existing customers, but also by new product and new technology. There's no better example of the benefits and the market perception of that than demand by customers. And so over the last six months, we've signed up phenomenal customers such as Stake as well as Crownbet. and continuing to deliver a significantly strong pipeline of customers going forward. In addition to that, we've also closed on our acquisition of LVDC and we think that opportunity unlocks an enormous amount of additional customer benefits throughout the US market. On the back of that, we will give you some comments around our recent deals and strategic opportunities that we see in the company as we move forward. Let me hand over to Jake to walk you through the company update.

Thanks, Matt, and thank you to any shareholders going in for today's call. Betmaker's mission is to become the central interconnected platform for horse racing betting. We do this through a number of ways, firstly with our market-leading cost per bet, which has really emerged from recent technology upgrades and enabled us to structure flexible commercial solutions. We achieve this by cutting out intermediaries, owning our entire platform and streamlining operations. Core to what we do is solving complex problems for our customers and allowing them to operate lean and at scale. We drive efficiencies across trading, risk management, pool betting and generosity, leveraging our proprietary form and content for even greater engagement. We're a fully integrated racing ecosystem covering fixed odds, platform, totem data, and the only scale operator globally with this coverage. The BetMakers Technology Mode. It's not just a SaaS model, it's a hybrid variable model with deep vertical integrations and opportunities to success share with our customers. We've built a resilient and widely deployed global tech stack covering the racing wagering life cycle end to end. We're operating under a global license in all of our major markets and we work closely with rights holders and racing bodies. We're also now capturing and generating our own bespoke data. The combination of AI powered innovation and our global racing expertise is how we will build that scalable moat for future growth. covering on the Betmakers expanded global footprint. With over 300 staff and customers across six continents, we're building a truly global network, powering the market leaders in both tote and fixed odds horse racing betting. We've built out a diverse customer base across racetracks, racing authorities, wagering operators, both digital and online, and land-based, sorry, media partners, rights holders and regulators. And we're expanding our reach and penetrating into new markets with a broad product suite that is now built for global expansion and scale. Matt will now walk you through some of the key financial highlights from the half before we move on to growth.

Thanks, Jack. One of the benefits of being a technology-driven turnaround is we're not just a cost-out story. We are a product-driven business now, and that's showing up in our revenue. Double-digit top line revenue growth going from $40.5 million to $46.1 million for the first half. prepared period on period. This is driven broadly right across the business from our digital data content and total hosting. Very proud of the team to be able to do this. We think this is a sign of the power of the technology platforms and products and how they've been received in the marketplace. And we can see a very strong pipeline of additional demand coming through over the next half. Some of the metrics that we look for here, we split out the two different divisions that we run, the Global Betting Services, very strong growth here, and Global Tote, also a respectable level of growth. We are very comfortable that global vetting services will continue at this pace. It looks like we have delivered the right products into the marketplace, and not just from our customers, but their customers. We're seeing better metrics right across the board. On the Tote side, this business will benefit dramatically from our focus on LBDC, putting Las Vegas and Nevada right at the center of it, and we expect to see further benefits as we upgrade that technology. in the same fashion that we did with the GPS system. When you dig deeper into the business and look at exactly what's driving this turnaround, gross margin has been an area of focus for the team. That is a combination of the data service that we ingest, but also the content that we acquire as we build out the business. We have told the market that our long-term goal is a 70% gross margin percentage. We are well on track to deliver that, and you've seen that actual metric improve every single quarter over the last eight quarters. So we're very comfortable that we're doing the right thing there. I think there's more to go, and we should have a very, very efficient business once we're through the major product deliveries. In terms of the COGS, we've broken down from cloud content and other. You can see that there's been an improvement right across the board there. We think there's additional work to be done here, so we're not resting on our laurels. But that business, that aspect of the business is in very good shape today. In terms of the operating cost base, this chart is a fabulous chart. I think it tells a lot of the story. Again, it's not just about cost out, but this is a technology-driven turnaround. The benefits of that technology, though, is that this business is cheaper to run today than it was before, and we are driving more revenue today than ever before on the back of a lower cost base, which I think is a very powerful position to put the business in. We're continuing to see the benefits of new technology and in particular the embrace of AI driven technology production that is further lowering our costs but also allowing us to deliver high quality product faster and better with lower error rates than we had before. This is quite the story. I think the team continue to excite me every time I see product demos of what's coming through. we feel we're definitely on the right end of this curve. I expect to see this continue to come down slightly, even though we continue to grow top line in double digits. The combination of top line revenue growth, expanding gross margin and managing our OPEX so that our operating cost basis continue to come down. delivers a beautiful chart here where our EBITDA is going up and to the right. This is the first example, I think, where investors can really see the operating leverage in the business. What we think is today, we've done a great job of getting to here, but we know that this business can continue to grow at a significant rate at its top line whilst maintaining a very reasonable cost base. And so you should really see and continue to see that show up here in the EBITDA line. Quick snapshot of our P&L. We've gone through most of the line items here. D&A and finance costs are something we're looking at at the moment as well. I don't think that there's too much really to talk about here. Jake, did you have anything in particular you wanted to touch on?