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PointsBet shared its Q2 FY25 results, reporting steady total net win at $69.9 million, unchanged from the same period last year but reflecting a 7% increase from Q1 FY25.
Sports betting revenue saw a minor uptick to $63.6 million from $63.5 million in Q2 FY24, while iGaming revenue slipped slightly to $6.3 million from $6.4 million.
After leaving the U.S. sports betting market in 2024, PointsBet shifted its North American focus to Canada. However, higher customer winnings in online slots and NFL betting led to a $3.9 million negative impact on earnings.
“Q2 group net win was negatively impacted by circa $3.9 million, due to customer-friendly results in Canada across NFL and slots,” CEO Sam Swanell said during the earnings call. “This NFL season has been the most customer-friendly since the launch of regulated online sports betting. We have seen the highest rates of favorites winning in nearly 20 years.”
The company saw positive trends in the first half of FY25. Total H1 FY25 revenue increased 6% to $124.4 million, while EBITDA loss decreased by 75% year-on-year, dropping from $13.3 million to $3.3 million, resulting in an $8.2 million EBITDA profit.
“These results have been delivered on the back of revenue growth and improvements in our gross profit efficiency. Our focus is not just delivering revenue, but ensuring it is earned efficiently,” Swanell said.
In the casino segment, PointsBet expanded its offerings by adding three new content providers in Q2, increasing its game catalog by 40%. Customers now have access to over 600 games.
Looking ahead, PointsBet plans to enhance promotions and improve loyalty programs in Q3 and Q4 FY25 to attract and retain customers.