PointsBet - Public Comps and Valuation Multiples

PointsBet Overview

About PointsBet

PointsBet Holdings Ltd offers a scalable cloud-based platform providing sports and racing betting and iGaming services. The business is divided into three segments: Australian Trading, serving Australian customers; Canada Trading, serving Canadian customers; and the Corporate segment. The majority of its revenue is generated from Australian Trading.

Founded

2017

HQ

Employees

302

Website

pointsbet.com.au

Sectors

Casinos & Gambling

Financials

LTM Revenue $176M

LTM EBITDA $7.3M

EV

$199M

Valuation Multiples

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PointsBet Financials

As of September 2025, PointsBet reported last 12-month revenue of $176M and EBITDA of $7.3M.

In the same period, PointsBet generated $51.5M in LTM gross profit and -$7.3M in net income.

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PointsBet P&L

In the most recent fiscal year, PointsBet reported revenue of $160M and EBITDA of -$2.2M.

PointsBet expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$176M	XXX	$160M	XXX	XXX	XXX
Gross Profit	$51.5M	XXX	$84.4M	XXX	XXX	XXX
Gross Margin	29%	XXX	53%	XXX	XXX	XXX
EBITDA	$7.3M	XXX	-$2.2M	XXX	XXX	XXX
EBITDA Margin	4%	XXX	-1%	XXX	XXX	XXX
EBIT	-$5.8M	XXX	-$20.1M	XXX	XXX	XXX
EBIT Margin	-3%	XXX	-13%	XXX	XXX	XXX
Net Profit	-$7.3M	XXX	-$27.6M	XXX	XXX	XXX
Net Margin	-4%	XXX	-17%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for PointsBet including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $176M. EBITDA for the last twelve months was $7.3M. In the most recent fiscal year, PointsBet achieved $160M in revenue and -$2.2M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$176M	Analyst estimates available to subscribers	$160M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$51.5M	Analyst estimates available to subscribers	$84.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	29.2% gross margin	Analyst estimates available to subscribers	52.8% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$7.3M	Analyst estimates available to subscribers	-$2.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	4.1% EBITDA margin	Analyst estimates available to subscribers	-1.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$5.8M	Analyst estimates available to subscribers	-$20.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-3.3% EBIT margin	Analyst estimates available to subscribers	-12.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$7.3M	Analyst estimates available to subscribers	-$27.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-4.2% net profit margin	Analyst estimates available to subscribers	-17.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for PointsBet

This financial data table provides comprehensive performance metrics for PointsBet, a company based in Australia. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

PointsBet generated $176M in revenue over the last twelve months.
The company achieved $7.3M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $51.5M.
Net income over the last twelve months reached -$7.3M.

Fiscal Year Performance

In the most recent fiscal year, PointsBet reported $160M in total revenue.
Fiscal year EBITDA was -$2.2M.
The company maintained a gross profit margin of 52.8% in the most recent fiscal year.
EBITDA margin for the fiscal year was -1.4%.
Net profit margin reached -17.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for PointsBet. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

PointsBet Stock Performance

PointsBet has current market cap of AUD 344M (or $224M), and EV of AUD 306M (or $199M).

Market Cap Evolution

PointsBet Stock Data

As of October 17, 2025, PointsBet's stock price is AUD 1 (or $1).

See PointsBet trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$199M	$224M	XXX	XXX	XXX	XXX	$-0.02

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PointsBet Valuation Multiples

PointsBet's trades at 1.3x EV/Revenue multiple, and -7.4x EV/EBITDA.

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PointsBet Financial Valuation Multiples

As of October 17, 2025, PointsBet has market cap of $224M and EV of $199M.

Equity research analysts estimate PointsBet's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

PointsBet has a P/E ratio of -30.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$224M	XXX	$224M	XXX	XXX	XXX
EV (current)	$199M	XXX	$199M	XXX	XXX	XXX
EV/Revenue	1.1x	XXX	1.3x	XXX	XXX	XXX
EV/EBITDA	27.4x	XXX	-7.4x	XXX	XXX	XXX
EV/EBIT	-34.3x	XXX	-4.4x	XXX	XXX	XXX
EV/Gross Profit	3.9x	XXX	n/a	XXX	XXX	XXX
P/E	-30.6x	XXX	-2.2x	XXX	XXX	XXX
EV/FCF	-67.9x	XXX	-2.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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PointsBet Margins & Growth Rates

PointsBet's last 12 month revenue growth is 11%

PointsBet's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.3M for the same period.

PointsBet's rule of 40 is -7% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

PointsBet's rule of X is 32% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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PointsBet Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	11%	XXX	16%	XXX	XXX	XXX
EBITDA Margin	4%	XXX	-18%	XXX	XXX	XXX
EBITDA Growth	166%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-7%	XXX	-7%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	32%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.5M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	29%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	65%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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