The following is a summary of the PointsBet Holdings Limited (PBTHF) Q3 2024 Earnings Call Transcript:
Financial Performance:
PointsBet reported a Q3 net win of $70.6 million, up 24% YoY, primarily due to the strong performance of their Australian and Canadian businesses.
The company has a positive net cash flow of $2 million for the quarter, normalized for U.S business-related sale items.
PointsBet is on track to report their first EBITDA positive half in H2 FY '24 and expects to sustain EBITDA profits into FY '25.
Business Progress:
PointsBet completed the sale of its U.S business and announced a capital return of $127 million ($0.39 per share) to its shareholders.
In Australia, the company saw a 20% increase in the net win and an increase in the active client base to 221,000 users. They are also promoting responsible gambling and will stop credit card deposit functionality by June 2024.
The Canadian iGaming business experienced a 62% YoY increase in net win, reaching $9.9 million. They have also integrated with Strive Gaming to enhance their customer experience.
PointsBet is focused on redesigning core workflows and structures as part of a transformation in their operating model. Given the growth potential in the global sports betting and iGaming market, the company is positioning itself for future growth.
More details: POINTSBET HOLDINGS LTD IR
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