Slide 1: 1H25 Results Presentation
Jumbo Interactive Limited 1H25 Results Presentation For the half-year ending 31 December 2024 21 February 2025
Slide 2: Disclaimer
Disclaimer This presentation contains summary information about the activities of Jumbo Interactive Limited ABN 66 009 189 128 (Jumbo) and its controlled subsidiaries (Group) current as at the date of this presentation. It should be read in conjunction with Jumbo’s other periodic and continuous disc
Slide 3: Business Update
Business Update Mike Veverka Managing Director, CEO and Founder
Slide 4: 1H25 Overview
1H25 Overview Business Update By Segment Financials Conclusion | Outlook Resilient Lottery Positive Retailing Performance SaaS Momentum Robust player health metrics amid a relatively subdued Underlying charity TTV +20%; combination of partnership jackpot environment; successful launch of Daily Winne
Slide 5: Key Metrics 1H25 impacted by subdued jackpots
Key Metrics 1H25 impacted by subdued jackpots Business Update By Segment Financials Conclusion | Outlook Total Transaction Value ($m) Group Revenue ($m) Underlying EBITDA1 ($m) 453.4 66.1 30.6 1H24: 484.5 (-6.4%) 1H24: 73.9 (-10.5%) 1H24: 35.1 (-12.9%) Lottery Retailing 208 (1H24: 246) Revenue
Slide 6: Lottery Retailing Below trend jackpot outcomes
Lottery Retailing Below trend jackpot outcomes Business Update By Segment Financials Conclusion | Outlook Powerball | Oz Lotto Division 1 large jackpots (≥$15m) Rolling 12-month TTV1 Resilient at lower jackpots FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 30 38 44 42 31 36 51 34 80 80 120 160 100 100 200
Slide 7: Lottery Retailing 1H25 impacted by subdued jackpots
Lottery Retailing 1H25 impacted by subdued jackpots Business Update By Segment Financials Conclusion | Outlook Digital Penetration1 (%) New Players (‘000s) Includes record $200M Powerball Cost Per Lead ($ / lead) 39.6 42.0 40.4 255.8 29.49 38.4 38.4 198.8 167.7 17.85 17.86 18.87 16.70 101.4 81.2 1HY
Slide 8: Software-as-a-Service Positive momentum
Software-as-a-Service Positive momentum Business Update By Segment Financials Conclusion | Outlook TTV ($M) Underlying growth Active Players (million) Our Partners +15.0%1 Existing 124 124 Underlying growth Charity | Government -6.1% +21.3%1 1082 Government Growth 1.74 1.73 97 99 20.4%1 Underlying 1
Slide 9: Managed Services Progress on track
Managed Services Progress on track Business Update By Segment Financials Conclusion | Outlook ✓ 13 new client lottery launches (Gatherwell) ✓ Record Christmas Superdraw (StarVale) United ✓ 98% client CSAT score and +72 NPS score (Gatherwell) Kingdom ✓ Insights/learnings from Jumbo Win proof of conce
Slide 10: Financial Update
Financial Update Jatin Khosla CFO
Slide 11: Underlying EBITDA
Underlying EBITDA Business Update By Segment Financials Conclusion | Outlook Lower revenue partially offset by disciplined cost management Underlying EBITDA Margin Underlying EBITDA bridge – 1H24 vs 1H25 ($M) Australia2 51.9% Managed -12.9% Services3 21.7% 35.2 35.1 (0.1) 1.4 30.6 0.6 31.2 1.9 (0.1)
Slide 12: Cost Management Ability to flex cost base
Cost Management Ability to flex cost base Business Update By Segment Financials Conclusion | Outlook Underlying operating expense bridge – 1H24 vs 1H25 ($’000) -5.4% 26,186 73 26,259 541 1,051 41 24,848 512 25,360 (1,084) (1,960) 4.4% 28.7% n/a 2.1% 11.2% 0.9% Total marketing costs 1HY24 O
Slide 13: Lottery Retailing Improved revenue margins
Lottery Retailing Improved revenue margins Business Update By Segment Financials Conclusion | Outlook TTV ($M) ($M) Revenue ($M) ($M) EBITDA ($M) EBITDA ($M) Underlying -15.3% 298.1 Revenue Margin EBITDA Margin 22.7% 23.4% 36.7% 35.4%1 253.3 245.8 208.3 195.8 -12.7% 67.5 55.9 50.1 48.8 -15.7% 41.2 2
Slide 14: SaaS Consistent TTV growth
SaaS Consistent TTV growth Business Update By Segment Financials Conclusion | Outlook TTV1($M) ($M) Underlying growth Revenue ($M) ($M) EBITDA ($M) ($M) External +15.0%1 Revenue Margin 124.4 4.4% 4.1% EBITDA Margin 119.7 60.5% 65.3% 108.21 97.2 98.9 27.40 23.25 23.14 22.30 -5.3% 20.46 18.91 18.37 18
Slide 15: Australia Optimising margin in a subdued jackpot period
Australia Optimising margin in a subdued jackpot period Business Update By Segment Financials Conclusion | Outlook 1H25 1H24 Variance A$’000 LR SaaS Corporate Australia LR SaaS Corporate Australia % TTV 208,258 124,439 - 332,697 245,752 112,730 - 358,482 7.2% Revenue 48,773 20,458 (15,417)1 53,814
Slide 16: Managed Services In line with expectations
Managed Services In line with expectations Business Update By Segment Financials Conclusion | Outlook 1H25 1H244 Variance A$’0001 UK2 Canada Total UK Canada Total % TTV 89,621 31,082 120,703 79,962 45,472 125,434 3.8% Revenue 8,878 3,438 12,316 8,706 4,246 12,952 4.9% Cost of Sales (698) (1,224)
Slide 17: Capital Management Balance sheet strength
Capital Management Balance sheet strength Business Update By Segment Financials Conclusion | Outlook • Strong balance sheet with available funds1 of $52.7m (FY24: $60.9m) Available Funds ($m) 1H25 FY24 Cash and cash equivalents 65.4 69.0 • FY25 interim ordinary dividend of 24.0 cps (1H24: 27.0 cps)
Slide 18: Cash Generation Strong organic capital generation
Cash Generation Strong organic capital generation Business Update By Segment Financials Conclusion | Outlook Cash Flow Reconciliation ($M) Pro forma adjustments 64.7% (1H24: 157.3%) 50.0 87.7 15.6 Cash Conversion Ratio1,2 (3.4) (0.6) (3.5) 69.0 2.2 10.8 65.4 (17.3) 52.7 (4.6) (0.4) $11.6m (1H24: $31
Slide 19: Conclusions & FY25 Outlook
Conclusions & FY25 Outlook Mike Veverka CEO and Founder
Slide 20: Portfolio updates
Portfolio updates Business Update By Segment Financials Conclusion | Outlook Our Loyalty Program Proposed game changes1 The Lottery Corporation (TLC) has 1H25 Mix Premium Tier advised the following updates: • Launched Aug-24 Saturday Lotto • 30,000 members (as at 31-Jan-25) Powerball • $15 per month
Slide 21: Lottery Retailing Trading update (First 6 weeks of 2H25)
Lottery Retailing Trading update (First 6 weeks of 2H25) Business Update By Segment Financials Conclusion | Outlook TTV per week ($m) Powerball | OzLotto FY24 FY25 (Div. 1 jackpots ≥ $15m) 1H 2H1 YTD 1H 2H1 YTD +45.4% Number of jackpots 28 5 33 24 9 33 11.7 Aggregate value ($m) 1,000 530 1,530 810 4
Slide 22: 1H25 Report Card | FY25 Outlook Reaffirmed
1H25 Report Card | FY25 Outlook Reaffirmed Business Update By Segment Financials Conclusion | Outlook Australia (Lottery Retailing + SaaS + Corporate) Managed Services (UK2 | Canada) Group 51% - 53% 21% - 23% 46% - 48% Underlying EBITDA Margin ✓ 51.9% 1H25 On track Underlying EBITDA Margin ✓ 21.7% 1
Slide 23: Questions
Questions
Slide 24: Supplementary Information
Supplementary Information
Slide 25: Jumbo is a digital lottery specialist
Jumbo is a digital lottery specialist We provide our proprietary lottery software platform and lottery management expertise to the charity and government lottery sectors. Business mix (based on FY24 revenue) 1H25 Results Presentation – 21 February 2025 24
Slide 26: Our three operating segments
Our three operating segments 1 2 3 Lottery Retailing Software-as-a-Service Managed Services We provide our lottery platform and lottery management services to charities and causes that are looking to We license our ‘Powered by Jumbo’ establish a lottery program or enhance Jumbo is an authorised rese
Slide 27: Active players provide the foundation for future growth
Active players provide the foundation for future growth Active players who made a purchase in the 12-month period (million) Canada 4.6 4.5 United Kingdom Australia 4.0 2.9 1.8 1.0 0.8 0.3 0.4 0.4 0.4 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1HY25 1H25 Results Presentation – 21 February 2025
Slide 28: Consistent and resilient growth over the long term
Consistent and resilient growth over the long term Australian lotteries sales over time ($bn) Recession Recession GFC COVID-19 8.5 7.9 7.8 7.2 6.5 6.6 3.9% 3.8%p.a. FY1990 to FY2024 CAGR 5.2 5.3 5.2 4.8 4.8 4.9 5.0 4.7 4.5 4.4 4.3 4.1 3.7 3.8 3.9 4.0 3.4 3.5 3.1 3.2 3.2 3.0 2.9 2.6 2.7 2.7 2.8 2.9 2
Slide 29: Growth in online penetration
Growth in online penetration Australian lottery sales through the online channel (%) % Retail Online 100 94 93 92 91 90 80 87 86 83 77 72 60 67 62 62 59 60 41 38 40 38 40 33 28 24 20 17 13 14 9 10 7 8 6 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 1HY25 Source: Tabcorp | TLC
Slide 30: Significant growth potential from online penetration
Significant growth potential from online penetration 20221 total internet revenues as a % of total lottery sales 69% 70% >50%5 62% $90M OzLotto (26 Dec 2023) 57% 55% 52% 53% 50% 47%5 45% 45% 46% $200M Powerball 40% 43% (1 Feb 2024) 40% 28% 28% 23% 24% 12% 12% 10% 10% 5% 3% North OLG2 North Austria I
Slide 31: Proven track record of growing earnings and cash
Proven track record of growing earnings and cash Revenue ($M) EBITDA ($M) Operating Cash Flow ($M) 159 +20% p.a. +13% p.a. +9% p.a. 5-year CAGR (FY19 to FY24) 5-year CAGR (FY19 to FY24) 5-year CAGR (FY19 to FY24) 119 54.5 104 44.5 42.5 43.0 35.5 36.5 83 75 61 Interim 71 55 24.0 65 66 58 54 44 47 39
Slide 32: Growth Drivers
Growth Drivers 1 2 3 Underlying Lotteries Growth Digital Penetration Growth in Active Players TBU 4 5 6 International Expansion | M&A New Revenue Opportunities Product Development and Innovation (including AI) 1H25 Results Presentation – 21 February 2025 31
Slide 33: Growth and Diversification over time
Growth and Diversification over time Revenue by Segment ($M) • Australian Centric • One customer • Government Lottery $159M Lottery Retailing Managed Services SaaS FY24 Revenue $40M FY18 Revenue 4x Six years later • Global Footprint • Diversify outside of TLC agreement • Focus on Government and Char
Slide 34: Artificial Intelligence
Artificial Intelligence Business Update By Segment Financials Conclusion | Outlook Established Initiatives Developing Initiatives Staff Empowerment AI-focused team We’ve established a dedicated team Provide training and tool to enhance focused on AI. Their task is to assess its coding, provide fast
Slide 35: Group 1H25 Reconciliation to 1H25 reported earnings
Group 1H25 Reconciliation to 1H25 reported earnings Statutory Underlying Add/(deduct) significant one-off items $’000 1H25 1H24 #039;000 1H25 1H24 Variance 1H25 1H24 Variance EBITDA 31,182 35,221 (11.5%) 30,609 35,148 (12.9%) Merger & Acquisition activity costs2 389 410 EBIT 24,705 29,068 (15.0%) 24,13
Slide 36: Group 1H25 Consolidated Results
Group 1H25 Consolidated Results #039;000 1H25 1H24 Variance Variance % TTV 453,400 484,482 (31,082) (6.4%) Revenue 66,130 73,884 (7,754) (10.5%) Cost of sales (10,781) (12,682) 1,901 15.0% Gross profit 55,349 61,202 (5,853) (9.6%) Other revenue 1,193 205 988 482.0% Expenses (excl. SBP) (24,934) (25,690
Slide 37: Group 1H25 Segment Results
Group 1H25 Segment Results Lottery Managed Corporate3 | Australia #039;000 SaaS Total Retailing Services Eliminations (LR + SaaS + Corp) TTV - Company 208,258 - - - 208,258 208,258 TTV - Third-party - 124,439 120,703 - 245,142 124,439 Total TTV 208,258 124,439 120,703 - 453,400 332,697 Revenue – Extern
Slide 38: Group 1H25 Lottery Retailing
Group 1H25 Lottery Retailing Financials 1H25 1H24 Variance % Lotteries TTV $’000 201,652 239,971 (16.0%) TTV by Product (%) Charity TTV $’000 6,606 5,781 14.3% 3% 8% Total TTV $’000 208,258 245,752 (15.3%) Revenue $’000 48,773 55,868 (12.7%) 17% 1 Cost of sales $’000 (24,120) (29,163) (17.3%) 51% Gr
Slide 39: Average TTV per draw remains robust
Average TTV per draw remains robust 8.0 Powerball (≤$50 million) 3.5 OzLotto (≤$50 million) 7.0 3.0 6.0 2.5 5.0 2.0 4.0 1.5 3.0 1.0 2.0 1.0 0.5 - - FY18 FY19 FY20 FY21 FY22 FY23 FY24 YTD FY18 FY19 FY20 FY21 FY22 FY23 FY24 YTD 6-Feb-25 6-Feb-25 <$20 million $20 million ≥$40 to $50 million ≤$5 million
Slide 40: Group 1H25 Managed Services Results (Local Currency)
Group 1H25 Managed Services Results (Local Currency) UK1 (£’000) Stride (C#039;000) 1H25 1H24 Var % 1H25 1H24 Var % TTV 45,917 41,620 10.3% 28,388 40,130 (29.3%) Revenue 4,548 4,531 0.4% 3,140 3,748 (16.2%) Cost of sales (357) (119) (200.0%) (1,118) (1,310) 14.7% Gross profit 4,191 4,412 (5.0%) 2,022 2
Slide 41: Group 1H25 Adjusted Cash Conversion Ratio
Group 1H25 Adjusted Cash Conversion Ratio 31.70 Impact from subdued jackpot environment (7.45) 1.27 18.15 2.65 1.21 1.47 11.55 (12.29) (0.40) 157% 65% $6.6m of total adjustments 102% Cash Cash Cash Conversion Conversion Conversion 1H24 Free Receipts from Payment to Other 1H25 Free Insurance FY24 Cus
Slide 42: Capital Management Framework
Capital Management Framework Focused on executing our growth strategy while maximising shareholder value Capital dynamics and dividend policy (Illustrative) Uses Objective Description Invest in Product development Debt Repayment 1 Growth the Core and innovation Dividends to ~100% Cash shareholders E
Slide 43: Financial Framework and P&L Drivers
Financial Framework and P&L Drivers Lottery Managed Corporate | SaaS Retailing Services Eliminations • % of External TTV • % of TTV • Removal of SaaS Revenue • Revenue Margin % x TTV • Intersegment Fee: % of LR • Fee for Service4 Intersegment Fee2 TTV2 • TLC Service Fee: % of Cost EBITDA5 subscripti