BetMakers has announced its second-quarter revenue reached $22.9 million, a 14.1 per cent increase compared to the previous year. This growth was primarily fuelled by expansions in the company’s digital and content services divisions. BetMakers provides wagering technology and services to operators and is a global leader in racing data and analytics. The company aims to deliver innovative solutions for the global racing and sports industries.
Adjusted EBITDA also saw a substantial rise, reaching $2.7 million, which marks a $3 million improvement over the same period last year. This result signifies the fourth consecutive quarter of positive earnings for BetMakers. The company’s gross margin expanded to 66.4 per cent, up from 61.6 per cent in the prior year. This margin expansion reflects BetMakers’ strategic transition towards a technology-driven business model that yields higher profit margins.
The company’s management team has indicated a positive outlook for the second half of the fiscal year. They anticipate that the financial benefits from recently secured contracts will begin to positively impact the company’s overall financial performance in the coming months. BetMakers is poised to continue its trajectory of growth and profitability.
