PointsBet Shares slip following June quarterly report
- PointsBet (PBH) posts $60.8 million in net cash outflows over the June quarter of 2022, though it ended the quarter with $519.6 million in available funds
- The company says it recorded a 32 per cent increase in group turnover for the June quarter to $1.3 billion, with its US segment driving the bigger portion of the growth
- The company spent over $53 million on advertising and marketing over the quarter — its largest operational cost
- Nevertheless, The company grew its cash active customer base by 22 per cent in Australia to 239,121 and by 67 per cent in the US to 266,882, compared to the same time last year
- Shares in the company are down 8.4 per cent and trading at $3.27 at 1:47 pm AEST
