Pointsbet Holdings reports first-half revenue rise

Finance News

PointsBet Holdings Limited today reported earnings results for first half 2024, the company reported revenue of $101.7m, up 7% vs PCP, a record half and a gross profit of $50.1m, up 12%.

Sportsbook in-play handle grew to 66%, up from 62% in the PCP, on the back of PointsBet’s outstanding live betting product. On path to achieve or be close to EBITDA breakeven in FY25 with segment Statutory EBITDA3 loss reducing to $12.0m vs $19.4m.

Initial completion of US business took place on the 31st August 2023, with Fanatics paying the US$175.0 million first instalment. Product and technology expense decreased 47% due to reduction of cloud hosting and support costs as a result of the sale of the US business. Certain costs will normalise higher post final completion. H1 FY24 normalised operating expenses of A$29.4, down 12%