BetMakers Technology Group (ASX:BET) has reported a financial turnaround for the first half of FY26, transitioning from a transformation phase into a period of accelerated growth.
The company announced a revenue of $46.1 million, representing a 13.8% increase compared to the $40.5 million recorded in H1 FY25, when excluding legacy customer revenue.
The growth was complemented by a substantial improvement in profitability, with the company achieving a positive adjusted EBITDA of $6 million, a sharp $7.3 million recovery from the $1.3 million loss reported in the prior corresponding period.
The financial results underscore a more efficient operating model, with gross margins expanding from 59.7% to 66.5%.
The margin expansion, coupled with a disciplined reduction in annualised operating costs to $54.3 million, reflects the company's strategic shift toward high-margin, technology-led revenue streams.
BetMakers maintains a robust balance sheet with $15.2 million in unrestricted cash and remains debt-free.
The company secured an exclusive five-year agreement to provide the full wagering stack for the upcoming CrownBet launch in Q1.
A multi-year global partnership with Stake.com will see BetMakers power their international horse racing expansion via the RaceOdds+ product, scheduled for go-live in H2 FY26.
Executive Chairman Matt Davey noted that the "successful reset" into a lean, profitable platform provides a strong foundation for continued expansion and compounding returns in future periods.