RAS Technology Holdings (ASX:RTH) Revenue Jumps 34% as Tabcorp Signs New Four-Year Data Agreement

Sonal Goyal

27 August 2026 02:04 PM AEST

RAS Technology Holdings (ASX:RTH) Revenue Jumps 34% as Tabcorp Signs New Four-Year Data Agreement

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Key Highlights

Revenue increased 34% to $28.4 million, with growth recorded across all three Business verticals during the year.
Normalised EBITDA increased 3% to $3.0 million, while Annualised Recurring Revenue rose 8% to $23.5 million at 30 June 2026.
Tabcorp signed a new four-year agreement for RAS to provide its data and content services, alongside a full racing solution agreement signed with LeoVegas Group in the UK.
The Company recorded a normalised net loss after tax of $0.3 million, against a net profit of $1.1 million in the prior corresponding period, reflecting the scale of Investment undertaken.

RAS Technology Holdings Ltd (ASX:RTH) share price was trading at $0.64, down 2.29% or $0.015 on the day, as at 27 August 2026, 10:36am AEST, as the racing and wagering data and technology provider announced its results for the year ended 30 June 2026 (FY2026). Revenue for the year was $28.4 million, an increase of 34% on the $21.3 million reported in the prior corresponding period. All three operating verticals contributed to the increase: Enhanced Information Services grew to $14.7 million from $13.3 million, Wagering Technology rose to $7.7 million from $5.4 million, and Digital, Media, Publications and Other climbed to $6.1 million from $2.6 million, with the Asian business contributing a full 12 months for the first time.

CEO and Managing Director Stephen Crispe said FY2026 was a year in which the company invested heavily to build long-term capability, and it was pleasing to see that investment convert into growth across the business. He said the company made a deliberate decision to prioritise the build-out of its trading team, Managed Trading Service and Asian operations ahead of near-term profitability.

Earnings Reflect Scale of Investment

Normalised EBITDA rose 3% to $3.0 million for the year. Annualised Recurring Revenue was $23.5 million at year end, an 8% increase on 30 June 2025, though below the level reported at the half-year following the exit of the lower-margin Stake contract. The company said the new LeoVegas agreement, once operating at full contracted value later in 2026, is expected to exceed the net contribution of the Stake contract.

On a normalised basis, the company recorded a net loss after tax of $0.3 million, against a net profit of $1.1 million in the prior corresponding period, reflecting the scale of investment undertaken during FY2026. Cash and cash equivalents at year end were $4.2 million, down from $5.7 million a year earlier, reflecting continued spending on product development, trading capability and expansion of the Asian business. Operating Activities generated cash of $2.3 million during the year, or $2.7 million on a normalised basis.

New Trading Agreements Signed in the UK

A competitive tender process in the UK resulted in the award of a full racing solution contract with the LeoVegas Group, successfully launched in May 2026, with LeoVegas Sweden the first Brand launched on the new Managed Trading Service platform. LeoVegas UK, BetUK and BetMGM, the group's largest racing brands, were onboarded post-year end, providing what the company described as a runway for strong growth in the first half of FY2027.

FY2026 also saw the UK launch of Betbridge in Partnership with Fairplay Exchange, continued growth in the Stakemate account, and the domestic rollout of W360, described as an avenue for future growth. Additionally, the Mauritius Turf Club arrangement performed ahead of expectations, and Tabcorp signed a new four-year agreement for RAS to provide its industry-leading data and content services.

Asian Expansion and AI Investment

The Racing and Sports Asia business made progress during the year, including bringing an international simulcast offering to market ahead of schedule. Respected racing journalist Ray Thomas joined the company to lift editorial standards across its titles and online platforms, which collectively reach an audience of approximately six million unique users. Racing at the newly built Conghua Racecourse in mainland China is due to begin in October 2026, adding a further long-term opportunity in the region.

The company made artificial intelligence a strategic priority in FY2026, applying it to automate processes, improve operational efficiency, support product innovation and strengthen the company's competitive position, a focus the company said will continue into FY2027.

FY2027 Outlook

Looking ahead to FY2027, the company's priorities centre on extending its use of AI and automation to drive product development, improve scalability, reduce cost, shorten client onboarding timeframes and expand content into additional languages, built on the strength of its proprietary racing database.

The company said conditions in the wagering and racing industry remain dynamic both in Australia and overseas, and it intends to remain agile while maintaining its position as a leading provider in the global industry. Management said the capability and geographic investments made during FY2026 have broadened RAS's addressable market and are expected to support Operating Leverage and Earnings growth in future periods.

Conclusion

RAS Technology Holdings' FY2026 results reflect a year of deliberate investment ahead of near-term profitability, with revenue growth of 34% across all three business verticals accompanied by a shift to a normalised net loss as the company built out its trading team, Managed Trading Service and Asian operations. With new agreements secured with Tabcorp and the LeoVegas Group, alongside continued expansion into Asian racing markets, the company's FY2027 performance will depend on the pace at which these recently onboarded relationships and capability investments convert into improved earnings and operating leverage.

FAQs

Q: How much did RAS Technology Holdings' revenue grow in FY2026?

A: Revenue increased 34% to $28.4 million, with growth recorded across all three of the company's operating verticals: Enhanced Information Services, Wagering Technology, and Digital, Media, Publications and Other.

Q: Why did RAS Technology Holdings record a net loss in FY2026?

A: The company recorded a normalised net loss after tax of $0.3 million, reflecting deliberate investment in building out its trading team, Managed Trading Service platform and Asian operations ahead of near-term profitability.

Q: What new agreement did RAS Technology Holdings sign with Tabcorp?

A: Tabcorp signed a new four-year agreement for RAS to provide its industry-leading data and content services.

Q: What is the LeoVegas Group agreement and how significant is it?

A: RAS signed a full racing solution agreement with the LeoVegas Group in the UK, launched in May 2026, with major brands including LeoVegas UK, BetUK and BetMGM onboarded post-year end, expected to exceed the net contribution of the exited Stake contract once at full contracted value.

Q: What is RAS Technology Holdings' Annualised Recurring Revenue?

A: ARR was $23.5 million at 30 June 2026, up 8% year on year, though below the half-year level following the exit of the lower-margin Stake contract.

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