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PointsBet Holdings
(Sydney:PBH)
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Rating:45Neutral
Price Target:
AU$0.93
▲(0.65% Upside)
Action:Reiterated
Date:07/03/26
The score is held down primarily by weak financial performance—ongoing losses, a sharp FY2026 margin drop, renewed cash burn, and negative equity that reduces flexibility. Technicals are neutral-to-soft with negative MACD and price below key short-term averages. Valuation offers limited support due to the negative P/E and lack of dividend yield data.
Positive Factors
Low absolute debt
Low absolute debt reduces interest and refinancing pressure, giving PointsBet more flexibility to fund operations or restructure. This is a durable balance-sheet advantage, although it is partly offset by negative equity and declining total assets.
Negative Factors
Negative shareholder equity
Negative equity weakens financial resilience and can restrict access to funding, supplier confidence, and strategic investment. Combined with declining total assets, it indicates a materially smaller capital base and less flexibility to absorb further losses.
Read all positive and negative factors
Positive Factors
Negative Factors
Low absolute debt
Low absolute debt reduces interest and refinancing pressure, giving PointsBet more flexibility to fund operations or restructure. This is a durable balance-sheet advantage, although it is partly offset by negative equity and declining total assets.
Read all positive factors
PointsBet Holdings (PBH) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$312.83M
Dividend Yield272.55%
Average Volume (3M)14.57K
Price to Earnings (P/E)―
Beta (1Y)-0.17
Revenue Growth5.56%
EPS Growth8.45%
CountryAU
Employees301
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-0.10
Shares Outstanding347,586,580
10 Day Avg. Volume11,514
30 Day Avg. Volume14,572
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)-15.84
Price to Sales (P/S)1.12
P/FCF Ratio-42.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$292.10M
PointsBet Holdings Business Overview & Revenue Model
Company Description
PointsBet Holdings Limited supplies a diverse array of sports, racing, and iGaming wagering solutions, all powered by its proprietary cloud-based technology platform. The company's operations are divided into specific segments: Australian Trading,...
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:Mar 01, 2027
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
34
Negative
Balance Sheet
28
Negative
Cash Flow
31
Negative
| Breakdown | Mar 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 248.79M | 261.37M | 245.49M | 210.30M | 195.41M |
| Gross Profit | 61.27M | 137.02M | 129.57M | 12.84M | 57.36M |
| EBITDA | -2.88M | -17.81M | -3.42M | -78.74M | -10.68M |
| Net Income | -35.51M | -18.15M | -42.32M | -369.61M | -267.69M |
Balance Sheet | |||||
| Total Assets | 55.16M | 73.21M | 81.87M | 606.77M | 961.09M |
| Cash, Cash Equivalents and Short-Term Investments | 22.99M | 40.20M | 42.18M | 552.99M | 519.60M |
| Total Debt | 4.79M | 1.81M | 2.25M | 3.59M | 17.70M |
| Total Liabilities | 72.71M | 67.21M | 62.61M | 105.31M | 224.73M |
| Stockholders Equity | -17.55M | 6.00M | 19.26M | 501.45M | 736.36M |
Cash Flow | |||||
| Free Cash Flow | -6.59M | 16.96M | -10.48M | -298.80M | -286.10M |
| Operating Cash Flow | -6.49M | 17.07M | 5.46M | -248.91M | -197.53M |
| Investing Cash Flow | -12.79M | -17.89M | 277.29M | -52.76M | -93.19M |
| Financing Cash Flow | 2.24M | -948.00K | -442.61M | -4.49M | 515.28M |
PointsBet Holdings Technical Analysis
Negative
0.92
Price Trends
0.91
Negative
0.96
Negative
0.93
Negative
Market Momentum
>-0.01
Negative
41.95
Neutral
35.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PBH, the sentiment is Negative. The current price of 0.92 is above the 20-day moving average (MA) of 0.89, above the 50-day MA of 0.91, and below the 200-day MA of 0.93, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 41.95 is Neutral, neither overbought nor oversold. The STOCH value of 35.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | AU$229.66M | -45.00 | -5.57% | ― | 8.79% | 83.03% | |
61 Neutral | AU$9.46B | 17.81 | 113.60% | ― | 0.17% | -21.07% | |
57 Neutral | AU$2.10B | 45.64 | 3.66% | 3.30% | 0.13% | 26.25% | |
48 Neutral | AU$962.11M | -2.22 | -64.40% | 5.00% | -9.32% | 59.25% | |
45 Neutral | AU$312.83M | -8.80 | 231.91% | 272.55% | 5.56% | 8.45% | |
45 Neutral | AU$188.90M | -4.45 | -29.69% | ― | 8.87% | -260.38% |
* Consumer Cyclical Sector Average
AU:PBH
PointsBet Holdings
0.88
-0.34
-27.57%
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AU:LNW
Light & Wonder, Inc. Shs Chess Depository Interests Repr 1 Sh
122.98
-11.52
-8.57%
PointsBet Holdings Corporate Events
PointsBet Sets Online 2026 AGM, Emphasizes Shareholder Engagement
Jul 23, 2026
PointsBet Holdings Limited, a digital sports betting and gaming operator, provides online wagering services and real-time betting experiences to customers across regulated markets. The company seeks to grow shareholder value through technology-led...
PointsBet Aligns Financial Year with Majority Shareholder MIXI
Jun 23, 2026
PointsBet Holdings has released its 2026 Annual Report, covering a shortened nine‑month financial period from 1 July 2025 to 31 March 2026. The change reflects a shift in the company’s financial year end from 30 June to 31 March to ali...
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.