@SimpleJim - g'day, and welcome to the BET boards
In answer to your query, BET's revenues have been approximately:
21/22: $91m
22/23: $95m
23/24: Management have guided to low double digit growth - so they are maybe expecting revenue to be around $106m for 23/24.
This is far lower than the approximately $137.5m in revenue for 23/24 that is shown on "your graph".
Others on these boards may disagree, but revenue growth this year should come from their existing contracts (eg BETR etc), global tote (Caesars, Penn Entertainment etc), some new platform agreements, and hopefully some more fixed odd wins in the US (although this is probably more likely in 24/25 IMO).
So a minimum say 10% - 12.5% revenue growth in 23/24 sounds plausible enough to me.
I can't see them reaching the $137.5m revenue figure (23/24) or the $187.5m revenue figure (24/25) that is shown in "your graph" - unless they sign 1 or 2 further major agreements fairly soon.
In 24/25 & 25/26 & 26/27 & going forward from there, there is zero reason for BET's revenues to drop down massively to around $50m - so not sure where those numbers in the graph came from?
If US fixed odds betting follows the success it has achieved in Australia, and if BET remains a trusted supplier of fixed odds in the US, then I would expect BET's revenues to increase by higher % figures after the 23/24 financial year.
But there is clearly a couple of "big ifs" in that statement
On other points, management are guiding to reaching operations cash flow break even ASAP this year, they had approximately $31m in unrestricted cash at 30 June 2023, there is no debt in the business, and they are also guiding at this unrestricted cash level not dropping below $20m anytime this year (23/24) - even allowing for any further negative cash flows from investing or financing activities.
Hope that helps!!
