PointsBet ups guidance as revenue rises in first quarter

Finance News

PointsBet Holdings announces that, as a result of continued strong year-to-date trading in H2 FY24, and increased operational efficiency and productivity, the Company upgrades its expected Normalized EBITDA1 loss for FY24 to be in the range of $4 to $6 million, an improvement on the previous FY24 guidance of a loss in the range of $9 to $14 million.

This reflects a significant improvement compared to the FY23 Normalised EBITDA loss of $49.0 million for the continuing operations.

PointsBet Managing Director and Group CEO Sam Swanell said: “Today’s guidance upgrade is a result of the Company’s continued strong trading performance together with improved efficiency and productivity.

It is particularly notable to see that the Company has been able to continue to deliver such impressive results, whilst simultaneously undertaking a complex technical and operational migration, separation, and re-organisation, with the recent completion of the sale of the US business. We continue to invest for further growth, in particular in our core technology and product capabilities and our outsized marketing investment. This is driving our market share growth and setting the Company up for further success in FY25 and beyond”.