PointsBet Holdings Ltd. (AU:PBH)
ASX:PBH
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PointsBet Holdings
(Sydney:PBH)
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Rating:43Neutral
Price Target:
AU$1.00
▲(11.11% Upside)
Action:Reiterated
Date:11/21/25
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
Conservative balance sheet
Low debt-to-equity and a stable equity ratio provide durable financial flexibility. Conservative leverage reduces refinancing and interest rate risk, allowing the company to fund product improvements or market entry without immediate external capital, supporting resilience over the next 2–6 months.
Negative Factors
Negative profitability
Persistently negative net and EBIT margins indicate the core business is not yet generating surplus returns after operating costs. This structural shortfall constrains reinvestment, hinders ability to build retained earnings, and must improve for durable shareholder value creation.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low debt-to-equity and a stable equity ratio provide durable financial flexibility. Conservative leverage reduces refinancing and interest rate risk, allowing the company to fund product improvements or market entry without immediate external capital, supporting resilience over the next 2–6 months.
Read all positive factors
PointsBet Holdings (PBH) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$361.49M
Dividend YieldN/A
Average Volume (3M)51.97K
Price to Earnings (P/E)―
Beta (1Y)-0.04
Revenue Growth5.56%
EPS Growth8.45%
CountryAU
Employees296
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-0.06
Shares Outstanding347,586,580
10 Day Avg. Volume29,855
30 Day Avg. Volume51,972
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)65.70
Price to Sales (P/S)1.51
P/FCF Ratio23.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.05Price Target Upside16.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.02
Revenue Forecast (FY)AU$270.60M
PointsBet Holdings Business Overview & Revenue Model
Company Description
PointsBet Holdings Limited provides sports, racing, and iGaming betting products and services through its cloud-based technology platform in Australia and New Jersey. The company operates through Australian Trading, Canada Trading, Technology, and...
How the Company Makes Money
PointsBet primarily makes money by operating regulated online wagering platforms and earning net gaming revenue (NGR) from customer betting activity. The core revenue stream is sports betting: the company sets odds (or uses trading/risk management...
PointsBet Holdings Earnings Call Summary
Earnings Call Date:Feb 25, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 27, 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.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.
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.
Read all updates
Q2-2025 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 266.27M | 261.37M | 245.49M | 210.30M | 195.41M | 194.66M |
| Gross Profit | 100.83M | 137.02M | 129.57M | 12.84M | 57.36M | 23.96M |
| EBITDA | -22.91M | -17.81M | -3.42M | -78.74M | -10.68M | -171.47M |
| Net Income | -23.11M | -18.15M | -42.32M | -369.61M | -267.69M | -187.73M |
Balance Sheet | ||||||
| Total Assets | 61.96M | 73.21M | 81.87M | 606.77M | 961.09M | 624.41M |
| Cash, Cash Equivalents and Short-Term Investments | 26.10M | 40.20M | 42.18M | 552.99M | 519.60M | 276.16M |
| Total Debt | 3.39M | 1.81M | 2.25M | 3.59M | 17.70M | 11.64M |
| Total Liabilities | 75.04M | 67.21M | 62.61M | 105.31M | 224.73M | 176.86M |
| Stockholders Equity | -13.08M | 6.00M | 19.26M | 501.45M | 736.36M | 447.55M |
Cash Flow | ||||||
| Free Cash Flow | 12.04M | 16.96M | -10.48M | -298.80M | -286.10M | -154.10M |
| Operating Cash Flow | 12.16M | 17.07M | 5.46M | -248.91M | -197.53M | -119.14M |
| Investing Cash Flow | -17.31M | -17.89M | 277.29M | -52.76M | -93.19M | -77.78M |
| Financing Cash Flow | -943.00K | -948.00K | -442.61M | -4.49M | 515.28M | 339.43M |
PointsBet Holdings Technical Analysis
Positive
0.90
Price Trends
0.95
Positive
0.93
Positive
1.00
Positive
Market Momentum
0.03
Positive
55.96
Neutral
44.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PBH, the sentiment is Positive. The current price of 0.9 is below the 20-day moving average (MA) of 1.03, below the 50-day MA of 0.95, and below the 200-day MA of 1.00, indicating a bullish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 55.96 is Neutral, neither overbought nor oversold. The STOCH value of 44.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PBH.
PointsBet Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$1.56B | 26.11 | 2.62% | 2.01% | 5.46% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | AU$8.96B | -140.20 | 48.21% | ― | 2.53% | -23.09% | |
45 Neutral | AU$207.25M | -14.86 | -13.44% | ― | 5.38% | 71.46% | |
45 Neutral | AU$176.97M | -1.63 | -22.97% | ― | 51.36% | 76.07% | |
43 Neutral | AU$361.49M | -3.53 | 653.24% | ― | 5.56% | 8.45% | |
40 Underperform | AU$663.52M | -1.45 | -57.00% | ― | -26.19% | 89.24% |
* Consumer Cyclical Sector Average
AU:PBH
PointsBet Holdings
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-7.14%
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PointsBet Holdings Corporate Events
PointsBet Names CFO Alister Lui as New Company Secretary
Mar 31, 2026
PointsBet Holdings has appointed its Group Chief Financial Officer, Alister Lui, as Company Secretary effective 1 April 2026, subject to standard gaming licensing and regulatory approvals. He will assume responsibility for communications with the ...
PointsBet outlines conditions and limitations in H1 FY26 results release
Feb 26, 2026
PointsBet Holdings released its half-year fiscal 2026 results presentation in February 2026, outlining financial and operational information prepared in good faith but not audited under Australian Auditing Standards. The company emphasised that th...
PointsBet Half-Year Loss Widens Despite Modest Revenue Growth
Feb 26, 2026
PointsBet Holdings, a corporate bookmaker active in Australia and Canada with a cloud-based platform for sports, racing and iGaming products, continues to target growth in regulated online wagering markets. Its technology-led model aims to support...
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.