External broker reports(aggregated public sources), Ord Minnett

Ord Minnett

External broker reports(aggregated public sources)

Ord Minnett is a leading Australian wealth management group, incorporating full-service stockbroking, financial planning and funds management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Betmakers Technology Group  / Equity Bottom-Up

<ul><li>BET’s 3Q25 result was unambiguously positive – beating OMLe at every line.</li><li>Highlights included a return to growth (+4% QoQ), continued GP margin improvement (+230bp), and delivery of an additional ~$2.6m in annual cost savings – all of which allowed BET to deliver its strongest OCF result as a listed company (+$3.0m).</li><li>With annualised growth now running &gt;10% and +ve Cash EBITDA expected from 4Q25, BET screens as extremely cheap (1.3x EV/rev) when compared with a peer group of profitable, high-growth tech (3-6x). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BET’s 3Q25 result was unambiguously positive – beating OMLe at every line.Highlights included a return to growth (+4% QoQ), continued GP margin improvement (+230bp), and delivery of an additional ~$2.6m in annual cost savings – all of which allowed BET to deliver its strongest OCF result as a listed company (+$3.0m).With annualised growth now running &gt;10% and +ve Cash EBITDA expected from 4Q25, BET screens as extremely cheap (1.3x EV/rev) when compared with a peer group of profitable, high-growth tech (3-6x). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BetMakers Technology Group Limited - Return to Growth… Profit up Next

<ul><li>We initiate on BetMakers Technology Group  (BET) with a SPECULATIVE BUY recommendations and $0.16/sh PT.</li><li>Over the past ~2 years, BET has right-sized its cost base ( $92m to a &lt;$60m guide), while we expect revenue growth will return from 2H25.</li><li>The company is also guiding to positive OCF from 3Q24 (we model 2Q25).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We initiate on BetMakers Technology Group  (BET) with a SPECULATIVE BUY recommendations and $0.16/sh PT.Over the past ~2 years, BET has right-sized its cost base ( $92m to a &lt;$60m guide), while we expect revenue growth will return from 2H25.The company is also guiding to positive OCF from 3Q24 (we model 2Q25).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BetMakers Technology Group Limited - Cost Base Reset, Revenues Turning a Corner

Australia

Betmakers Technology Group Ltd operates as a software development company. The Company designs and develops odds comparison and intelligent betting platforms, as well as analytics and trading solutions. Betmakers Technology Group serves customers in Australia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Betmakers Technology Group (BET AU)

BetMakers Technology Group Limited - Return to Growth… Profit up Next

BET’s 3Q25 result was unambiguously positive – beating OMLe at every line. Highlights included a return to growth (+4% QoQ), continued GP margin...

Ord Minnett

BetMakers Technology Group Limited - Cost Base Reset, Revenues Turning a Corner

Over the past ~2 years, BET has right-sized its cost base ( $92m to a <$60m guide), while we expect revenue growth will return from 2H25.

Ord Minnett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)