Q4 2024 Pointsbet Holdings Ltd Earnings Call Transcript
Key Points
- Successful completion of the sale of the US business to Fanatics Betting and Gaming, resulting in significant capital returns to shareholders.
- Normalized EBITDA expected to be a loss of $1.8 million, a substantial improvement from the previous guidance and FY23 results.
- Record full-year group net win of $267.1 million, up 16% on FY23.
- Strong market share growth in Australia and Canada, driven by strategic marketing investments and core technology improvements.
- Record quarterly cash flow performance with a normalized net cash flow of positive $7.1 million in Q4 FY24.
- Normalized EBITDA still reflects a loss, indicating ongoing profitability challenges.
- iGaming performance impacted by VIP negative variance and increased promotional spending.
- High operational costs, including $27.3 million in GST, point of consumption tax, and product fee payments in Australia.
- Increased competition in the market, particularly from product innovation perspectives.
- Potential regulatory changes in advertising strategies, which could impact future marketing efforts and costs.
Good morning, and thank you for joining the PointsBet Holdings Limited Q4 FY24 business update. I'm Sam Swanell and joining me on the call today is our Group CFO, Alister Lui. Please note the Safe Harbor statement. All the numbers referred to are unaudited and in Australian dollars, unless otherwise stated.
Turning to slide 3. Following the successful final completion of the sale of the US business to Fanatics Betting and Gaming in April. The second capital return of $126.9 million, representing $0.39 per share was completed on May 16, 2024. The Board is pleased to have returned a total of $442.4 million, representing $1.39 per share to shareholders across the first and second capital returns.
As previously announced, the company applied for and received a class ruling from the ATO, confirming that for Australian tax residents, no part of the first or second capital returns will be accessible as a dividend. Further details of the class ruling can be found on the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
