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PointsBet Holdings Ltd. (AU:PBH)
OTHER OTC:PBH

PointsBet Holdings (PBH) AI Stock Analysis

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AU:PBH

PointsBet Holdings

(OTC:PBH)

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Neutral 43 (OpenAI - 4o)
Rating:43Neutral
Price Target:
AU$1.00
▲(11.11% Upside)
PointsBet Holdings faces significant challenges with profitability, as reflected in its financial performance and valuation. The technical analysis indicates bearish momentum, further weighing down the stock's attractiveness. The lack of earnings call data and corporate events means these factors do not influence the score.
Positive Factors
Revenue Growth
The company shows consistent revenue growth, indicating expanding market reach and increasing consumer interest in its offerings.
Cash Flow Improvement
Positive cash flow from operations suggests better financial management and potential for reinvestment in growth initiatives.
Low Leverage
Low leverage provides financial stability and flexibility, allowing the company to navigate market fluctuations and invest in growth.
Negative Factors
Profitability Challenges
Ongoing profitability issues can hinder long-term growth and shareholder value, necessitating strategic adjustments to improve margins.
Negative Returns
Negative returns on equity indicate inefficiencies in generating profits from shareholders' investments, impacting financial health.
Net Profit Margin
Negative margins highlight operational inefficiencies and the need for cost management to achieve sustainable profitability.

PointsBet Holdings (PBH) vs. iShares MSCI Australia ETF (EWA)

PointsBet Holdings Business Overview & Revenue Model

Company DescriptionPointsBet Holdings (PBH) is a global sports betting and technology company headquartered in Australia, specializing in online gambling and sports wagering. The company operates in the interactive gaming sector, offering a range of products including fixed-odds betting and its unique PointsBetting format, which allows bettors to win or lose based on the margin of victory in sporting events. PointsBet has expanded its operations internationally, particularly in the United States, where it has established partnerships to provide its services in various states as sports betting becomes increasingly legalized.
How the Company Makes MoneyPointsBet generates revenue primarily through its sports betting operations, earning money by taking a percentage of the total bets placed on its platform. The company's revenue model includes both fixed-odds betting and its proprietary PointsBetting system, which can result in higher payouts depending on the outcome of events. Key revenue streams come from customer wagers, promotional offers, and partnerships with sports leagues and media companies to enhance visibility and attract new users. Additionally, PointsBet benefits from the growing market for online sports betting, driven by regulatory changes and increasing consumer interest in legalized gambling.

PointsBet Holdings Earnings Call Summary

Earnings Call Date:Feb 25, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Mar 03, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive achievements, particularly in growth metrics and technology investments, alongside challenges such as customer-friendly outcomes affecting net wins and softness in the VIP segment. While there were notable improvements in key areas, the negative impact on revenue and market challenges in Canada present a balanced view of the company's performance.
Q2-2025 Updates
Positive Updates
Improved EBITDA Position
The company improved its H1 EBITDA position by $10 million compared to the prior corresponding period (PCP), showing a loss of $3.3 million and achieving a full-year EBITDA profit for calendar year 2024 of $8.2 million.
Record Cash Actives
The group had over 292.6k rolling 12-month cash actives at December 31, a new record, with strong growth in mass market recreational segments in Australia and Canada.
Australian Business Performance
Australia reported a net win for Q2 up 2% versus the PCP to $60.5 million, and gross profit up 16% versus the PCP to $28.9 million, both new Q2 records.
Growth in Sports Multis
Achieved a 15% growth in actives and 62% growth in net win from sports multis, with growth driven by mass-market segments.
Positive iGaming Trends in Canada
Positive shifts in the composition of the iGaming customer base with a shift towards higher-margin Slots games, and in-play turnover as a percentage of total turnover increased to 70% versus 65% in the PCP.
Technology and Content Expansion
Continued investment in technology, launched six new content providers in H1, and expanded the game slate by an additional 40%, including over 600 games live in the Ontario market.
Negative Updates
Negative Impact of Customer-Friendly Results
The NFL season was particularly customer-friendly, negatively impacting group net win by approximately $3.9 million.
VIP Segment Softness
Experienced softness in the VIP cohort in both Australia and Canada due to macroeconomic factors and increased compliance standards.
Revenue Guidance Downgrade
Updated revenue guidance to $260 million to $270 million due to negative variance and VIP softness, down from previous expectations.
Challenges in Canadian Market
Canadian results were negatively affected by customer-friendly outcomes, impacting both sports and casino, with a noted $3.9 million negative variance in net win.
Slight Delay in Casino Initiatives
The company was slightly behind in implementing casino generosity and loyalty initiatives, affecting performance in H1.
Company Guidance
In the PointsBet Holdings Limited Q2 FY '25 investor presentation call, the company reported significant progress toward profitability with several key metrics highlighted. The Group CEO, Sam Swanell, announced an improvement in H1 EBITDA by $10 million compared to the previous corresponding period (PCP), resulting in a loss of $3.3 million. The company achieved a full-year EBITDA profit of $8.2 million for the calendar year 2024. Gross profit grew by 11% in H1 versus the PCP and by 17% in calendar year '24 compared to '23. Total Q2 group net win was $69.9 million, with a noted impact of $3.9 million due to customer-friendly outcomes in Canada. The Australian trading business saw a Q2 net win increase of 2% to $60.5 million and gross profit up 16% to $28.9 million compared to the PCP. The company's guidance for FY '25 EBITDA was narrowed to a range of $11 million to $14 million, while revenue guidance was updated to $260 million to $270 million. PointsBet also highlighted a record number of over 292.6k rolling 12-month cash actives by December 31, 2024, and an ongoing focus on gross profit efficiency amidst regulatory and market dynamics.

PointsBet Holdings Financial Statement Overview

Summary
PointsBet Holdings is experiencing moderate revenue growth and improving cash flow, but profitability remains a significant challenge. The balance sheet is stable with low leverage, but the company needs to address its negative returns to enhance financial health.
Income Statement
PointsBet Holdings has shown some revenue growth, with a 3.6% increase in the latest year. However, the company is struggling with profitability, as evidenced by negative net profit margins and EBIT margins. The gross profit margin has improved slightly, but the overall profitability remains a concern.
Balance Sheet
The balance sheet shows a low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, reflecting ongoing losses. The equity ratio is relatively stable, suggesting a solid asset base, but profitability issues persist.
Cash Flow
Cash flow from operations has improved, turning positive in the latest year, which is a positive sign. Free cash flow has also grown, but the company still faces challenges in converting net income into cash flow, as indicated by the low free cash flow to net income ratio.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue261.37M261.37M245.49M210.30M195.41M194.66M
Gross Profit137.02M137.02M129.57M12.84M57.36M23.96M
EBITDA-17.81M-17.81M-3.42M-78.74M-10.68M-171.47M
Net Income-18.15M-18.15M-42.32M-369.61M-267.69M-187.73M
Balance Sheet
Total Assets73.21M73.21M81.87M606.77M961.09M624.41M
Cash, Cash Equivalents and Short-Term Investments40.20M40.20M42.18M552.99M519.60M276.16M
Total Debt1.81M1.81M2.25M3.59M17.70M11.64M
Total Liabilities67.21M67.21M62.61M105.31M224.73M176.86M
Stockholders Equity6.00M6.00M19.26M501.45M736.36M447.55M
Cash Flow
Free Cash Flow16.96M16.96M-10.48M-298.80M-286.10M-154.10M
Operating Cash Flow17.07M17.07M5.46M-248.91M-197.53M-119.14M
Investing Cash Flow-17.89M-17.89M277.29M-52.76M-93.19M-77.78M
Financing Cash Flow-948.00K-948.00K-442.61M-4.49M515.28M339.43M

PointsBet Holdings Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.90
Price Trends
50DMA
0.93
Negative
100DMA
1.06
Negative
200DMA
1.09
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
50.49
Neutral
STOCH
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PBH, the sentiment is Neutral. The current price of 0.9 is below the 20-day moving average (MA) of 0.90, below the 50-day MA of 0.93, and below the 200-day MA of 1.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.49 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:PBH.

PointsBet Holdings Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
AU$714.15M17.5734.17%4.84%-8.81%-6.84%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
61
Neutral
AU$11.53B31.53106.73%3.16%-6.28%-11.67%
55
Neutral
AU$2.24B61.252.89%2.01%8.62%
43
Neutral
AU$318.04M-16.70-142.61%6.47%60.03%
43
Neutral
AU$201.65M-6.64-25.15%-10.59%32.75%
43
Neutral
AU$198.10M-17.92-14.71%126.29%95.17%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:PBH
PointsBet Holdings
0.91
-0.12
-11.65%
AU:TAH
Tabcorp Holdings Limited
0.99
0.44
81.32%
AU:BET
Betmakers Technology Group
0.18
0.08
71.43%
AU:JIN
Jumbo Interactive Limited
11.30
-2.11
-15.75%
AU:BBT
BlueBet Holdings Ltd.
0.19
-0.11
-36.67%
AU:TLC
Lottery Corporation Limited
5.19
0.31
6.35%

PointsBet Holdings Corporate Events

PointsBet Appoints Andrew Catterall as New Group CEO
Dec 16, 2025

PointsBet Holdings Limited has announced the appointment of Andrew Catterall as the new Group Chief Executive Officer, effective February 2026, succeeding Sam Swanell. Catterall, who has led the Australian operations through significant transformation, is expected to guide PointsBet into its next phase with his extensive industry expertise and leadership skills. Swanell will remain involved in an advisory capacity and as an Executive Director, ensuring continuity and leveraging his deep experience with the company.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Aligns Financial Year with Controlling Entity
Dec 11, 2025

PointsBet Holdings Limited has announced a change in its financial year end from 30 June to 31 March to align with its controlling entity, MIXI, Inc. This adjustment will result in a nine-month transitional financial year from 1 July 2025 to 31 March 2026, after which the company will adopt a regular twelve-month financial year cycle. This change is expected to streamline financial reporting and improve operational efficiency, potentially impacting stakeholders by aligning the company’s financial calendar with its parent entity.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Appoints PwC as New Auditor
Dec 2, 2025

PointsBet Holdings Limited has announced the appointment of PricewaterhouseCoopers (PwC) as its new auditor, effective from the conclusion of its 2025 Annual General Meeting. This change follows the resignation of RSM Australia, which was conducted in compliance with regulatory requirements. The company expressed gratitude for RSM Australia’s contributions during its tenure. The appointment of PwC is expected to bring new insights and expertise, potentially impacting the company’s financial oversight and stakeholder confidence.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Announces Successful AGM Outcomes
Nov 28, 2025

PointsBet Holdings Limited announced the results of its Annual General Meeting held on November 28, 2025, where all proposed resolutions were passed with the required majority. The meeting included the re-election and election of directors, approval of the remuneration report, and a change of auditor, reflecting strong shareholder support and potentially impacting the company’s governance and strategic direction.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Welcomes MIXI as Controlling Shareholder, Eyes Sustainable Growth
Nov 27, 2025

PointsBet Holdings Limited has undergone significant strategic reshaping over the past year, marked by MIXI, Inc. becoming its controlling shareholder. This partnership is expected to enhance PointsBet’s offerings and leverage the strengths of both organizations, with new directors from MIXI joining the board. The company has focused on refining its operating model, optimizing costs, and strengthening governance, positioning itself for sustainable growth. PointsBet is entering the new financial year with renewed energy and a clear strategy, aiming to deliver value to shareholders and improve customer engagement.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Announces 2025 AGM Details
Oct 28, 2025

PointsBet Holdings Limited has announced the details of its upcoming Annual General Meeting (AGM), scheduled for 28 November 2025. The AGM notice and the company’s annual report for the fiscal year ending 30 June 2025 have been distributed to shareholders. This meeting will provide stakeholders with insights into the company’s performance and future strategies, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Appoints New Director to Strengthen Leadership
Oct 13, 2025

PointsBet Holdings Limited has announced the appointment of Kanji Kobayashi as a director, effective October 6, 2025. Kobayashi holds 103,400 restricted securities in MIXI, Inc, a related body corporate of PointsBet, and has an economic interest in additional shares through MIXI’s Officers’ Shareholding Association. This appointment is part of PointsBet’s strategic efforts to strengthen its leadership team and enhance its market positioning.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Announces Departure of Director Becky Harris
Oct 6, 2025

PointsBet Holdings Limited announced the cessation of Becky Harris as a director effective October 6, 2025. The announcement, made in compliance with ASX listing rules, indicates that Harris had no relevant interests in securities or contracts associated with the company at the time of her departure.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Board Restructured Following MIXI Australia Takeover
Oct 6, 2025

PointsBet Holdings Limited has announced a significant reconstitution of its board following the successful takeover by MIXI Australia, which now holds a 66.43% voting power in the company. The board welcomes three new non-executive directors, Mr. Sho Okuyama, Mr. Kanji Kobayashi, and Mr. Taishi Oba, all associated with MIXI Australia, while several existing directors have resigned. This change reflects MIXI Australia’s influence and strategic direction for PointsBet, potentially impacting its operations and market strategy.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

PointsBet Holdings Faces Major Takeover Shifts
Sep 30, 2025

PointsBet Holdings Limited has recently been the subject of two takeover offers. MIXI Australia Pty Ltd completed an off-market takeover, gaining a 66.43% voting power in PointsBet. Meanwhile, betr Entertainment Limited made an unsolicited all-scrip offer, securing a 27.72% voting power. These developments indicate a significant shift in the company’s shareholder structure, potentially impacting its strategic direction and market positioning.

The most recent analyst rating on (AU:PBH) stock is a Hold with a A$1.25 price target. To see the full list of analyst forecasts on PointsBet Holdings stock, see the AU:PBH Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 21, 2025