RAS Technology (RTH) H1 2026 earnings summary

Executive summary

• Achieved revenue growth of 38–38.3% year-over-year in H1 FY2026, reaching $13.9–$13.93 million, driven by expansion across all business segments, strategic investments, and the first full period of the Hong Kong acquisition.

• Secured major new contracts, including LeoVegas, Fairplay, and Stakemate, with LeoVegas expected to be a significant revenue contributor and global footprint expanded.

• Invested in technology, trading platforms, leadership, and digital assets, particularly in Asia, supporting further regional and global growth.

• Positioned for sustained growth with a robust customer base, market-leading assets, and global networks.

Financial highlights

• Revenue reached $13.9–$13.93 million, up 38–38.3% year-over-year, with growth across all functional areas and the Hong Kong acquisition.

• Normalized/adjusted EBITDA was $1.37–$1.4 million, broadly stable despite significant investments and seasonality.

• Annualized Recurring Revenue (ARR) at period end was $24.6 million, up 34–34.4% year-over-year, with an exit rate of $27.6 million including repeatable Asian B2C revenue.

• Cash at period end was $4.39–$4.4 million, slightly down due to investments and acquisitions; normalized operating cash inflow was $0.80–$0.801 million.

• Adjusted net profit after tax was $0.13 million, but reported net loss after tax was $0.39 million due to continued investment and non-recurring expenses.

Outlook and guidance

• Expect stronger H2 performance, especially in Asia, due to seasonality and new product launches.

• Cost growth to moderate in H2 as bulk of investment uplift is complete; focus shifts to efficiency, automation, and operating leverage.

• Anticipate continued global expansion, especially in Asia and the U.K., with new products, contracts, and strategic partnerships driving future growth.

• Management remains open to further strategic acquisitions, particularly in high-value Asian markets.