BetMakers Technology Group Reports financial turnaround amid strategic restructure
BetMakers Technology Group Ltd has reported significant improvements in its financial performance, driven by technology upgrades and restructuring efforts.
The company has focused on lowering its cost base, exiting unprofitable contracts, restructuring operations and rebuilding its core technology platform to produce annual improvements in operating expenses and adjusted EBITDA.
Key initiatives have included $5.1 million in staff cost reductions and the centralisation of corporate functions to generate operational efficiencies and improve operating leverage.
The company noted a 43% quarter-on-quarter improvement in net cash used for operating activities, reducing its adjusted EBITDA loss by approximately 69%.
This positive trajectory is expected to continue into the second half of FY25, as the impacts of restructuring and the Apollo migration take full effect, underscoring the company’s focus on accelerating growth and financial performance.