Sportradar reports strong growth in 2022 Q4 and year overall

Sportradar informed the results for the fourth quarter and full year 2022 with following highlights:

• Full Year 2022 revenue growth of 30% exceeds annual 2022 outlook
• Fourth quarter ROW Betting segment revenue grew 29% with Adjusted EBITDA margin of 44%
• Fourth quarter U.S. segment revenue grew 77%; positive Adjusted EBITDA for second consecutive quarter
• 2023 annual outlook with growth of 24% to 26% for revenue and 25% to 33% for Adjusted EBITDA

Carsten Koerl, Chief Executive Officer of Sportradar, commented: “I am very pleased with our strong results driven by exceptional execution this past year. We saw excellent performance across all of our key performance metrics despite challenging macroeconomic conditions including a second consecutive quarter of positive Adjusted EBITDA in the U.S.”

“Our continued long-term partnerships with leading global sports bodies, and innovation across new technologies such as artificial intelligence and computer vision and as important, a team passionate about delivering solutions to our clients, make us very excited about our growth in 2023 and beyond.”

Ulrich Harmuth, Interim Chief Financial Officer, added: “Our fourth quarter financial results illustrate the momentum we’ve built throughout 2022. We demonstrated operational leverage in our business model, despite making significant investments in our products and technology, streamlined our organization to be more customer-centric, and strengthened our balance sheet by repaying our debt. Our 2023 guidance of revenue growth and margin expansion reflects the investments we have made to date and the growing global sports market opportunity.”

Source: GMB