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BETR Entertainment Limited (ASX:BBT)

ALERT: Price-sensitive ASX Announcement for BBT
Current share price for BBT : $0.120 -0.075 (-38.46%)+
Announcement
Release
27 Aug 2026 10:01AM
Price at Release
$0.195
Full Release
download
Summary
betr Entertainment Limited’s FY26 Results Investor Presentation dated 27 August 2026 highlights a sharp second-half turnaround in earnings and cash flow, with normalised EBITDA improving by $19.3 million from a loss of $13.2 million in H1 FY26 to a positive $6.1 million in H2 FY26, and Q4 operating cash flow turning positive at $2.6 million, despite a full-year normalised EBITDA loss of $7.1 million and statutory loss after tax of $40.1 million; for the Australian financial year ended 30 June 2026, turnover rose 12.3% to $1,594.7 million, gross win increased 10.1% to $215.7 million, net win rose 7.0% to $158.1 million, and the business reported 156,479 cash active customers, while margin pressure reflected customer-friendly H1 sporting results, increased brand relaunch marketing, Sky Racing vision rollout and integration costs; the presentation emphasises improving customer economics and market share, including FY26 ARPU growth of 60%, H2 net win per user growth of 7%, and strong early FY27 trading with turnover up more than 20%, new customers up 97%, SGM turnover up 30%, CPA down 31% and generosity cost down 9%, supported by proprietary product innovation such as Wildcards, $8.6 million of capitalised platform development, and readiness for regulatory reform through established compliance and data-led controls; based on this momentum, betr guides to FY27 normalised EBITDA of $13 million to $19 million and positive operating cash flow, with customer investment weighted to H1 and earnings and cash flow expected to be weighted to H2.
Key Points
  • FY26 Results Investor Presentation was released on 27 August 2026.
  • betr reported a decisive H2 FY26 turnaround, with normalised EBITDA improving by $19.3 million from H1 to H2.
  • H2 FY26 normalised EBITDA was $6.1 million, meeting guidance.
  • Q4 FY26 operating cash flow was positive at $2.6 million.
  • FY26 turnover increased 12.3% to $1,594.7 million.
  • FY26 gross win increased 10.1% to $215.7 million.
  • FY26 net win increased 7.0% to $158.1 million despite customer-friendly H1 results.
  • Net win margin was 9.9% in FY26, down from 10.4% in FY25.
  • Normalised wagering revenue rose to $145.4 million in FY26.
  • Full-year normalised EBITDA was a loss of $7.1 million compared with a $7.2 million profit in FY25.
  • Statutory loss after tax for FY26 was $40.1 million.
  • Advertising and marketing expense rose 45% to $28.2 million due to brand relaunch and customer acquisition investment.
  • The business ended FY26 with 156,479 cash active customers.
  • FY26 ARPU growth was 60% versus FY25.
  • H2 FY26 net win per user grew 7% versus H1 FY26.
  • Early FY27 trading showed turnover growth of more than 20% and new customer growth of 97% versus the prior corresponding period.
  • Early FY27 SGM turnover increased 30% and bet frequency increased 5%.
  • Early FY27 CPA declined 31% and generosity cost declined 9%.
  • betr highlighted Wildcards as a world-first SGM product innovation to support engagement and share growth.
  • FY26 platform development capitalised was $8.6 million.
  • The company said it is ready for gambling reform through established controls, data-led compliance and a product-driven strategy.
  • FY27 guidance is for normalised EBITDA of $13 million to $19 million and positive operating cash flow, weighted to H2.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.