Slides
Page 1
INVESTOR PRESENTATION FY2026 RESULTS AUGUST 2026
Page 2
This presentation has been prepared by RAS Technology Holdings Limited ACN 650 066 158 (the Company or Racing and Sports) and has been authorised for issue by the Board of the Company. This presentation contains summary information about the Company and its subsidiaries (the Group) and the business conducted by the Group as at the date of this presentation. The information in this presentation is general information and in summary form and does not purport to be complete or comprehensive. This presentation should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange. This presentation is not and should not be considered, and does not contain or purport to contain, an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities in the Company (Securities) nor does it constitute a financial product or investment advice (nor taxation or legal advice) nor take into account your investment objectives, taxation situation, financial situation or needs. This presentation does not constitute an advertisement for an offer or proposed offer of Securities. Neither this presentation nor anything contained in it shall form the basis of any contract or commitment and it is not intended to induce or solicit any person to engage in, or refrain from engaging in, any transaction nor is it intended to be used as the basis for making an investment decision. Investors should make their own enquiries and investigations in relation to all information in this presentation and before making any investment decision, should consider the appropriateness of the information having regard to their specific investment objectives, financial situation or particular needs and should seek independent professional advice appropriate to their jurisdiction. The material contained in this presentation may include information, data, estimates and projections derived from publicly available sources or other third-party sources that have not been independently verified by the Company. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Estimates and projections involve risks and uncertainties and are subject to change based on various factors. To the fullest extent permitted by law, no representation or warranty (expressed or implied) is given or made by any person (including the Company) in relation to the accuracy or completeness of all or any part of this presentation and no responsibility for any loss arising in any way (including by negligence) from anyone acting or refraining from acting as a result of the material contained in this presentation is accepted by the Company. A number of figures, amounts, percentages, estimates and calculations of value in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. All dollar values are in Australian dollars (A$), unless otherwise stated. The operating and historical financial information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of the Company's views on the Group's future performance or condition. You should note that past performance of the Group cannot be relied upon as an indicator of (and provides no guidance as to) future Group performance. This presentation may contain forward-looking statements with respect to the operations and business of the Group. The assumptions underlying these forward- looking statements involve circumstances and events that have not yet ta ken place, and which are subject to uncertainty and contingencies outside the Company’s control. Readers are cautioned not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to publicly release the result of any revisions to forward-looking statements in this presentation or to otherwise update forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of this presentation, except as required by law. Important Notice and Disclaimer 2
Page 3
DATA ELEMENTS The world's largest racing database. Unrivalled depth across all codes globally. 5.5B+ YEARS LEADER Deep racing DNA. Founded by experts, built for the wagering industry. 20+ 30+ COUNTRIES SERVED Global operations. 7+ LANGUAGES Full localisation. 1,500+ 24/7 content. DAILY EVENTS TRUSTED BY THE WORLD’S LEADING INDUSTRY BRANDSThe world's largest racing database. 3
Page 4
COMPLETE RACING SOLUTION Full racing solution capability built out across data, content, pricing and trading, supported by a geographically diverse trading team and Managed Trading Service. UK COMMERCIAL WINS Secured a full racing solution agreement with the LeoVegas Group, launched Betbridge, and grew the Stakemate and Fairplay relationships. AI AND AUTOMATION FOCUS AI embedded as a core strategic priority to drive competitive advantage, enable and enhance automation and product innovation that drives market differentiation RAS ASIA: ONE YEAR ON Hong Kong business marked its first anniversary under RAS ownership having reached new audiences and delivering a new international simulcast product ahead of schedule. EDITORIAL AND CONTENT STRENGTHENED RAS's global publishing and digital assets reached circulation of 6 million unique users. FY2026 Overview Broadening the platform, building momentum for FY2027 SIGNIFICANT INVESTMENT Materially expanded addressable market by investing heavily in trading solutions and RAS Asia which will help to grow earnings in the years ahead. 4
Page 5
$28.4 $23.5 $4.2 $2.7$3.0 1 +34% vs PCP Underpinned by strong growth across all key business units. +3% vs PCP EBITDA continuing to grow despite the major focus on investment in FY2026. +8% vs PCP Reflects YOY growth with majority of LeoVegas revenue not yet included. Decrease on previous year due to continued investment in product and service capability and Asian expansion. vs $3.6m in PCP Reflects strong investment in capability and key growth areas. GROUP REVENUE MILLION MILLION NORMALISED EBITDA ARR CASH NORMALISED CASH FLOW FROM OPERATIONS MILLION MILLIONMILLION FY2026 Financial Highlights 5 1 ¹ EBITDA and Cash Flow from Operations normalised to exclude non-recurring share-based payment expense adjustment and redundancy costs.
Page 6
FSFS SUSTAINED REVENUE GROWTH • Continued strong growth momentum, with ongoing development and promotion of expanded trading services and first full year of RAS Asia operations. • Fifth straight year of 30%+ revenue growth. • Revenue from Digital, Media, Publications and Other increased to $6.1 million (2025: $2.6 million) following the Hong Kong acquisition. • In addition to ARR, RAS now has over $3 million in B2C repeatable revenue annually from Asian publications. STABLE EBITDA DESPITE INVESTMENT • Normalised EBITDA grew despite significant investment in future growth of the business. • BAU business delivered a normalised net profit before tax for FY2026. • Changed accounting treatment of R&D incentive grants adversely impacted profit in FY2025 and FY2026 relative to prior years by the grants moving from direct income be an after tax offset. • Operating leverage and net results expected to improve from FY2027 onwards. ANNUAL RECURRING REVENUE BY YEARREVENUE BY YEAR NET PROFIT BEFORE TAXEBITDA ¹ FY2025 adjustment relates to transaction costs for acquisition. ² FY2026 adjustment relates to non-recurring share-based payment expense adjustment and redundancy costs. Prior to FY2025, all years received direct revenue from new R&D grants. Financial Performance 6 $0m $5m $10m $15m $20m $25m $30m FY22 FY23 FY24 FY25 FY26 $0m $5m $10m $15m $20m $25m FY22 FY23 FY24 FY25 FY26 -$3.0m -$2.0m -$1.0m $0.0m $1.0m $2.0m $3.0m $4.0m FY22 FY23 FY24 FY25 FY26 EBITDA EBITDA Normalised 2 -$3.5m -$3.0m -$2.5m -$2.0m -$1.5m -$1.0m -$.5m - $.5m $1.0m FY22 FY23 FY24 FY25 FY26 NPBT NPBT Normalised 1 21
Page 7
ARR BY JURISDICTION 30 JUN 2025 ARR BY JURISDICTION 30 JUN 2026 MAJOR GROWTH MARKETS • Digital, Publications, Media and Other grew strongly with Asian operation building momentum and the Mauritius contract starting to mature. • All business units reported YOY growth in ARR despite the conclusion of the Stake contract and LeoVegas still being in its very early stages. • UK and Australia continued to achieve strong growth in ARR. DIGITAL, PUBLICATIONS, MEDIA AND OTHER ($m) WAGERING TECHNOLOGY ($m) ENHANCED INFORMATION SERVICES ($m) FY2026 ARR Trends 7 11.7 13.9 14.9 FY24 FY25 FY26 5.9 6.0 6.3 FY24 FY25 FY26 1.2 1.9 2.4 FY24 FY25 FY26 45% 34% 4% 7% 10% Australia UK US Asia Other 45% 38% 4% 7% 6% Australia UK US Asia Other
Page 8
• Product and trading technology • Scalable platform architecture • Growth capability in Asia • Global trading capability • Core technology investment From Investment to Operating Leverage OUR RECENT INVESTMENT Building the platform and capability for growth 2 4 5 • Accelerated entry into new markets • Reducing cost to serve • Growth without equivalent increase in cost base • Deliver more value to customers faster 2. ENHANCED BY AI Enhancing what RAS has built and unlocking the next phase of value 8 1. BUILT Strengthened the platform and capabilities to support scalable growth • Development efficiency and automation • Product innovation at speed • Faster deployment for customers • Corporate operations • Risk governance and compliance Growth with operating leverage 3. DELIVERING MORE Clients demand more races, markets and languages, delivered reliably and at speed. AI enables the Company to meet that demand at scale, supporting growth and operating efficiency Technology investment and AI enables RAS to serve more races, markets and clients while reducing the incremental cost of growth.
Page 9
• Tabcorp signs new agreement for RAS to provide its industry leading data and content services for a four-year term, reinforcing the strength of the long-standing partnership between the two businesses. • Extended the Playbook Engineering agreement to December 2028, and a strong roadmap of brands to go live in Q2 FY2027. • Signed 5-year extension to TABtouch’s existing racing data and content contract. Expansion of services to be provided. • Secured contracts with multiple MTS and Trading clients across the globe including Stakemate, Altenar and Fairplay. 9 Business Update The global leader in fully integrated services that power horse racing betting • RAS Asia has signed multiple new commercial agreements reflecting strong momentum. • RAS’s Wagering 360 Platform launched its first external brand with Australian bookmaker Laserbet. MARKET LEADING COST-EFFECTIVE TRADING PLATFORMS TRUSTED BY TIER 1 SPORTSBOOKS TO DELIVER MARKET-LEADING TRADING RESULTS SERVICE PROVIDER OF CHOICE TO POWER NEXT-GEN SPORTSBOOKS Fully Integrated Racing Solution Digital/Media Advanced Trading Platform Enhanced Data and Information Increased margins
Page 10
KEY ACTIVITIES IN FY2026 • Onboarded LeoVegas Group brands (LeoVegas Sweden) to the new MTS platform in May 2026; LeoVegas UK, Bet UK and BetMGM onboarded post-year end. • Extended Playbook Engineering agreement to December 2028, coinciding with an additional brand launch post-year end; further brands expected in Q2 FY2027. • Launched 7bet in the UK, the third brand on the Altenar platform. • Expanded RAS premium content distribution agreements globally via international partners. • Trading and analytics technology investment delivered operators a competitive edge, driving client retention and expansion. • Continued month-on-month revenue growth from existing MTS clients. 3.4 4.5 5.7 7.4 8.5 9.0 1H FY24 2H FY24 1H FY25 2H FY25 1H FY26 2H FY26 UK ARR ($m) KEY DRIVERS GOING FORWARD • LeoVegas expected to be significant growth driver in H1 FY2027 following successful May 2026 launch. • Multi-platform reach, with every new partner integration making the next brand launch faster, cheaper and lower-risk, creating scalable revenue and operating leverage across a diversified base. UK Market: New partnerships driving platform growth 10
Page 11
FY2026 PROGRESS • Hong Kong operations providing stable recurring revenue (FY2026 revenue of $4.5 million) and distribution, one-year post-acquisition. • Improved operating efficiency through automation (gross margin increased from 35% to 40%) and strengthened local leadership, while deepening ties with the Hong Kong Jockey Club and regional industry bodies. • Expanded international simulcast partnerships, broadening regional racing coverage. • Expanded digital reach via HKDNForm.com and the launch of RacingAndSportsAsia.com, extending RASA's content and coverage across the region. • Strengthened editorial capability and social media reach with the appointment of a renowned international racing editor, Ray Thomas. OUTLOOK • Racing at Conghua Racecourse (mainland China) scheduled to commence in October 2026. • Continued expansion of RASA's commercial presence across Southeast Asia via data, content, digital activation and media partnerships. • Further growth in international simulcast coverage and digital reach as new products and partnerships launch across the region. Racing and Sports Asia: Stable base to support strong growth Extending RAS’s integrated racing platform across Asia 11
Page 12
AI and automation remain central priorities – driving innovation, scalability, efficiency and faster deployment. Core technology investment supports continued build-out of the proprietary full racing solution, backed by a strong trading and support team. Continued leverage of quality products and networks in the UK, including the LeoVegas Group agreement, alongside existing and new wagering platform. Progressing cost initiatives - automation, supplier optimisation, staff restructuring and managing discretionary expenses – to reduce delivery costs and increase margins. Expanded product suite, broader geographic footprint and increased addressable market Outlook 12 RASA leadership team in place to capitalise on Hong Kong acquisition; new digital assets, simulcast products and trading investment expanding addressable market.
Page 13
APPENDICES
Page 14
FOR THE YEARENDED 30 JUNE 2026 COMMENTS • Strong revenue growth of 34% was underpinned by expansion across all business segments. • Expenses grew materially over FY2026. This was partly in line with revenue growth but also reflects the significant investments made to support key growth strategies of trading, technology and Asia. • FY2026 result included the first full year of results from the RAS Asia business. • The Federal Government’s exclusion of gambling activities from R&D eligibility adversely impacted net tax position in FY2026. • RAS delivered a normalised before-tax profit in FY2026 of $86k, following adjustments totalling $735k for non-recurring share- based payment expenses and redundancy costs. Jun 2026 $'000 Jun 2025 $'000 Revenue Revenue from contracts with customers 28,438 21,269 Other income 498 775 Expenses Employee benefits expenses (13,266) (9,582) Production, delivery and sales expense (4,207) (2,124) Data and processing expenses (2,572) (1,945) Outsourced services (2,536) (2,227) Technology expenses (760) (470) Occupancy expenses (170) (118) Acquisition costs - (541) Administration expenses (3,177) (2,685) Finance costs (21) (39) Depreciation and amortisation expense (2,876) (2,100) (Loss)/Profit before income tax (expense)/benefit (649) 213 Income tax (expense)/benefit (308) 313 (Loss)/Profit after income tax for the year attributable to the owners of RAS Technology Holdings Limited (957) 526 Profit and Loss Statement 14
Page 15
FOR THE YEARENDED 30 JUNE 2026 COMMENTS • RAS continues to invest in product and service capability, evidenced in the balance sheet and statement of cash flows through an increase in intangible assets. • RAS continues to maintain positive net asset and net current asset positions of $13.6 million and $2.6 million, respectively. Jun 2026 $'000 Jun 2025 $'000 Current assets Cash and cash equivalents 4,187 5,674 Trade and other receivables 3,354 2,641 Contract assets 744 226 Other assets 733 768 Total current assets 9,018 9,309 Non-current assets Intangibles 10,966 10,271 Right-of-use assets 74 369 Property, plant and equipment 241 286 Deferred tax 752 1,583 Total non-current assets 12,033 12,509 Total assets 21,051 21,818 Current liabilities Trade and other payables 3,793 3,154 Contract liabilities 562 263 Deferred grant revenue 274 374 Current tax liabilities 21 19 Employee benefits 1,518 1,228 Lease liabilities 94 360 Provisions 132 - Total current liabilities 6,394 5,398 Non-current liabilities Deferred grant revenue 223 498 Deferred tax 519 1,079 Employee benefits 297 187 Lease liabilities - 94 Provisions - 129 Total non-current liabilities 1,039 1,987 Total liabilities 7,433 7,385 Net assets 13,618 14,433 Equity Issued capital 15,464 14,851 Reserves (34) 437 Accumulated losses (1,812) (855) Total equity 13,618 14,433 Statement of Financial Position 15
Page 16
FOR THE YEARENDED 30 JUNE 2026 COMMENTS • Cash from operating activities in FY2026 was $2.3 million, or $2.7 million when normalised for abnormal non-recurring items. • Investing activities have seen a further $3.3 million spent on intangibles to improve capability and drive product innovation. • Cash balance at the end of FY2026 was $4.2 million, with cash burn slowing significantly in H2. Jun 2026 $'000 Jun 2025 $'000 Cash flows from operating activities Receipts from customers (inclusive of GST) 29,136 21,461 Payments to suppliers (inclusive of GST) (26,933) (20,111) Receipts from government grants – R&D - 1,390 Interest received 123 324 Income tax (paid)/received (18) 13 Finance costs (32) (37) Net cash from operating activities 2,276 3,040 Cash flows from investing activities Payments for intangible assets (3,300) (2,743) Payments for property, plant and equipment (140) (95) Proceeds from disposal of property, plant and equipment 1 - Payments for acquisition - (4,099) Net cash used in investing activities (3,439) (6,937) Cash flows from financing activities Proceeds from issue of shares and options - 1,356 Principal repayment of lease liabilities (360) (331) Net cash (used in)/from financing activities (360) 1,025 Net decrease in cash and cash equivalents (1,523) (2,872) Cash and cash equivalents at the beginning of the half-year 5,674 8,348 Effects of exchange rate changes on cash and cash equivalents 36 198 Cash and cash equivalents at the end of the year 4,187 5,674 Cash Flow Statement 16
Page 17
THANK YOU investor@racingandsports.com.au racingandsports.company