BetMakers logs profitability with $2.7M quarterly EBITDA

Betting technology provider BetMakers Technology Group (ASX:BET) has reported a robust second-quarter performance, headlined by an adjusted EBITDA of $2.7 million.

The result represents a substantial $3 million turnaround compared to the previous corresponding period and marks a full year of consistent quarterly profitability for the company.

The group’s revenue climbed 14.1% year-on-year to $22.9 million, a surge largely attributed to its expanding digital and content services divisions.

A pivot toward a high-margin, technology-driven business model has also paid dividends, with gross margins widening from 61.6% to 66.4%.

Management noted that the company is "well-positioned" for the remainder of the fiscal year.

At the time of reporting, BetMakers' share price was $0.20.