PointsBet Holdings has reported a 17 per cent increase in FY24 revenue of $245.5m.

Marketing Expense decreased to $45.2m, an improvement of 26% compared to the PCP, with Net Win from First Time Bettors growing 17% vs the PCP. Gross profit was up 141% due to improved gross profit margins of 52.3% vs 40.4% in PCP as business continues to scale.

FY24 operating expenses of A$60.4 million, down 6% on the PCP, due to certain cost productivity initiatives realised as part of the re-organisation of the business post US business sale.

Gross profit margin of 52.8%, up on the PCP, driven by increased global efficiency, revenue contribution mix in Australia, and increasing contribution from Canada, which has more favourable unit economics than in Australia.