Half Year 2025 Pointsbet Holdings Ltd Earnings Call Transcript

Feb 25, 2025 / 10:30PM GMT

Release Date Price: A$0.83 (-6.21%)

Transcript

Key Points

Positve

PointsBet Holdings Ltd (PBTHF) entered a Scheme Implementation Deed with MIXI, offering shareholders a significant premium of 27.7% to the closing price.
The company improved its H1 EBITDA position by $10 million compared to the previous corresponding period (PCP), resulting in a loss of $3.3 million.
H1 gross profit grew by 11% to $65 million, driven by revenue growth and improved gross profit efficiency.
The Australian trading business achieved a record H1 statutory segment EBITDA of $10.7 million, a 376% increase on the PCP.
The Canadian trading business saw a 49% increase in 12-month rolling cash active clients, indicating strong customer growth.

Negative

The Canadian segment experienced a negative variance of approximately $3.9 million in net win due to customer-friendly results.
The company recorded an EBITDA loss of $3.3 million, despite improvements, indicating ongoing financial challenges.
PointsBet Holdings Ltd (PBTHF) faced higher-than-expected customer payouts on slot games, impacting casino results.
Net cash inflows from operating activities were only $0.5 million, reflecting limited cash generation.
The Canadian segment's H1 statutory segment EBITDA was negative $12.2 million, showing continued losses in this market.

Operator

Thank you for standing by, and welcome to the PointsBet Holdings Limited H1 FY25 financial results. (Operator Instructions)

I would now like to hand the conference over to Mr. Sam Swanell, Group CEO. Please go ahead.

Sam Swanell

Pointsbet Holdings Ltd - Group Chief Executive Officer, Co-Founder, Managing Director, Executive Director

Good morning. I'd like to thank you for joining this call to present the PointsBet Holdings Limited half-year 2025 results. This is Sam Swanell, Group CEO; and I'm joined today by our Group CFO, Alister Lui.

Today, we will talk to our investor presentation, which was launched with the ASX this morning together with our half-year financial report. We will also touch upon the announcement this morning regarding PointsBet entering a Scheme Implementation Deed with MIXI. Please note the Safe Harbor statement in the presentation and that all figures are in Australian dollars unless otherwise stated.

Turning to slide 4. PointsBet has entered a Scheme Implementation Deed with MIXI and MIXI Australia for the

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