In today’s briefing:
- Pointerra Ltd – Back in the black, H1 FY25 forecasts beat
- PointsBet (PBH AU) Rebuffs BlueBet And Enters Offer With Mixi (2121 JP)
Pointerra Ltd – Back in the black, H1 FY25 forecasts beat
- RaaS has published an update on 3D spatial data solutions group Pointerra (ASX:3DP) following the release of its H1 FY25 results in which the company returned to profitability, reporting underlying NPAT of $1.07m, a $4.76m turnaround on the previous corresponding period (pcp) and 45% ahead of our forecast for underlying NPAT of $0.74m.
- The result was struck on better-than-forecast revenue of $6.99m, the second-best half-year revenue result reported by the company in its history and an increase of 185% on the pcp.
- Operating cash flow for the half increased 194% to $1.8m, the company’s best-ever half-year operating cash-flow result.
PointsBet (PBH AU) Rebuffs BlueBet And Enters Offer With Mixi (2121 JP)
- PointsBet Holdings (PBH AU), an Australian/Canadian online wagering platform, has entered into a Scheme Implementation Deed with Mixi Inc (2121 JP).
- Mixi is offering A$1.06/share, a 27.7% premium to last close and an implied EV/EBITDA of 25.2x-32.1x for FY25E. Apart from PointsBet’s shareholder approval, the Offer requires FIRB signing off.
- Separately, Pointsbet’s key rival BlueBet Holdings (BBT AU) has tabled, what appears to be, a higher non-binding cash/scrip offer by way of Scheme, which PointsBet has allegedly ignored.
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