BetMakers Technology Group Reports Revenue Decline Amid Strategic Restructuring

Betmakers Technology Group Ltd. ( (TPBTF) ) has released its Q2 earnings. Here is a breakdown of the information Betmakers Technology Group Ltd. presented to its investors.

BetMakers Technology Group Ltd, an Australian company, specializes in developing software, data, and analytics products for the B2B wagering market, along with producing and distributing racing content. In its latest earnings report for the half-year ending December 31, 2024, the company reported a revenue of AUD 41.4 million, marking a 19.4% decline from the previous year. The decrease was attributed to the loss of a key customer and lower than expected turnover from platform customers. Despite a reduction in revenue, the company managed to reduce its loss before income tax by 33.8% compared to the previous year. The company has been focusing on restructuring and cost reduction initiatives, including the migration of its platform customers to the Apollo platform, which is expected to yield savings in cloud and infrastructure costs. BetMakers has also expanded its international partnerships and launched new products, such as the Advantage Racebook in collaboration with Sportradar. Looking ahead, the company aims to improve operating margins and focus on growth initiatives, with plans to deliver its GTX platform in FY25, which is expected to enhance customer experience and reduce costs.