BetMakers Hits First LTIP Target, Issues 5 Million Shares
BetMakers Technology Group has met the initial performance hurdle of its Long-Term Incentive Plan, triggering the conversion of 5 million performance rights into shares and signaling strong operational momentum.
- Achieved Tranche 1 LTIP milestone with $10.8m EBITDA annual run-rate
- $6.4m operating cash-flow generated in six months to June 2025
- 5 million performance rights converted into fully paid ordinary shares
- Future LTIP hurdles tied to EBITDA growth and share price targets through 2027
- Board emphasizes alignment of management incentives with shareholder value creation
Strong Financial Performance Drives LTIP Milestone
BetMakers Technology Group Ltd (ASX, BET) has announced a significant achievement in its Long-Term Incentive Plan (LTIP), successfully meeting the performance hurdle for Tranche 1. The company reported an EBITDA annual run-rate of $10.8 million alongside $6.4 million in operating cash-flow for the six months ending 30 June 2025, comfortably surpassing the targets set for this milestone.
This accomplishment reflects BetMakers’ ongoing commitment to executing its strategic objectives in the competitive B2B wagering technology sector. Executive Chair Matt Davey highlighted the milestone as a testament to the team’s focused efforts and the Board’s strategy to closely align key management incentives with shareholder interests.
Share Issuance and Incentive Alignment
Following the achievement of the Tranche 1 hurdle, BetMakers converted 5 million performance rights into fully paid ordinary shares, a move that underscores the company’s confidence in its growth trajectory. This share issuance was completed without the need for additional investor disclosure under the Corporations Act, with all regulatory requirements duly met.
The LTIP is structured to reward management for sustained financial performance and share price appreciation, with subsequent tranches requiring higher EBITDA run-rates and volume weighted average price (VWAP) targets through to mid-2027. These escalating hurdles aim to maintain momentum and incentivize long-term value creation.
Looking Ahead, Ambitious Growth Targets
BetMakers’ roadmap includes achieving a $20 million EBITDA annual run-rate by the end of 2026 and $30 million by mid-2027, alongside share price milestones of $0.33 and $0.40 respectively. These targets reflect the company’s ambition to expand its global footprint and solidify its position as a world-class wagering technology provider.
While the company’s forward-looking statements acknowledge inherent risks and market uncertainties, the successful delivery of the first LTIP hurdle provides a tangible signal of operational strength and strategic execution.
Bottom Line?
BetMakers’ LTIP progress signals growing confidence but investors will watch closely as future hurdles demand even stronger performance.
Questions in the middle?
- Can BetMakers sustain EBITDA growth to meet the more demanding LTIP tranches?
- How will the share issuance impact overall shareholder dilution and market perception?
- What strategic initiatives will drive the company’s global expansion and revenue growth?
